8/23/2019, 5:06 PM (Source: TeleTrader)
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Dow drops 300 points after Trump tweets on Fed, China

Stocks in the United States were back in negative territory on Friday with the Dow Jones dropping over 300 points after US President Donald Trump slammed the Federal Reserve and ordered American companies to "immediately start looking for an alternative to China" and consider bringing manufacturing back to the US. Trump's remarks come after China announced it will impose retaliatory tariffs on $75 billion worth of American imports on September 1.

The Dow Jones slid 1.23% or 322 points at 11:08 am ET. Caterpillar and 3M led the losses as their shares lost 2.40% and 2.32%, respectively, at 11:06 am ET.

The Nasdaq 100 dived 1.90% at 11:10 am ET with Hasbro, down 7.16%, leading the losses. The S&P 500 fell 1.44% at 11:11 am ET.

The euro rose 0.44% against the dollar to sell for 1.1129 at 11:14 am ET.

Breaking the News / NP