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US: Wall St tumbles at open after China plans tariff retaliation
[NEW YORK] US stocks fell sharply at the open on Monday after Beijing announced plans to retaliate with tariffs on US goods, raising fears that another round of tit-for-tat measures could push the US economy toward recession.
The Dow Jones Industrial Average fell 374.31 points, or 1.44 per cent, at the open to 25,568.06. The S&P 500 opened lower by 41.21 points, or 1.43 per cent, at 2,840.19. The Nasdaq Composite dropped 196.87 points, or 2.49 per cent, to 7,720.07 at the opening bell.