The United States of America’s stocks plunged on Monday amid escalating trade tensions after China allowed the yuan to fall to its lowest level in a decade and asked state-owned companies to suspend agricultural imports from the US. The moves follow Trump’s threat last week to impose a 10% tariff on $300 billion of Chinese imports. The Dow Jones slid 473 points, or 1.8%, to 26,012; the S&P 500 lost 55 points, or 1.9%, to 2,877; and the Nasdaq slumped 197 points, or 2.5%, to 7,808 around 15 minutes after the opening bell. Historically, the Dow Jones Industrial Average reached an all time high of 27398.68 in July of 2019 and a record low of 28.48 in August of 1896.
The Dow Jones Industrial Average is one of the most closely watched U.S. benchmark indices. It is a price-weighted index which tracks the performance of 30 large and well-known U.S. companies that are listed mostly on the New York Stock Exchange. The Dow Jones Industrial Average has a base value of 40.94 as of May 26, 1896
