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Dow Jones plunges again, down nearly 600 points in early trading

Dow Jones Big Board
Dow Jones Big Board on Dec. 8, 2018.

NEW YORK (AP) – Stocks are plunging again as the arrest of a senior Chinese technology executive threatened to worsen trade tensions between Beijing and Washington.

A steep drop in Boeing, which would suffer in an extended trade battle, helped drag the Dow Jones Industrial Average nearly 600 points Thursday.

Traders shoveled money into bonds, a signal they see weakness in the economy ahead.

The price of oil fell 3.8 percent as OPEC leaders gathered to discuss production cuts, which traders suspect may not reverse a plunge in crude.

As of 9:45 a.m. Mountain time, the Dow fell 638 points, or 2.5 percent, to 24,392.

The S&P 500 index lost 61 points, or 2.3 percent, to 2,638. The Nasdaq dropped 117 points, or 1.7 percent, to 7,040.

The yield on the 10-year Treasury fell to 2.84 percent.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Associated Press

Associated Press

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