The market is seeing red again. On the first trading day of the second quarter, the Dow slipped by more than 400 points, and the tech-heavy Nasdaq ended the day nearly three percent lower. “We saw overnight China announced a tariff of up to 25 percent on about...130 U.S. products,” explained Matthew Battipaglia, Portfolio Manager at Washington Crossing Advisors. China’s new tariffs hit a myriad of American goods, including fruits and pork, imports of which amount to around $3 billion. The announcement comes merely weeks after President Trump slapped taxes on aluminum and steel imports from China and announced plans to tax $50 billion more worth of Chinese goods. These trade war warning shots from two of the world’s largest economies worried investors Monday. They also added pressure to a market that was already heading downwards on negative news from the tech world. Reports of Apple potentially ditching Intel and using its own chips for Mac computers drove Intel’s shares down by as much as nine percent. [Tesla, Facebook, and Amazon](https://cheddar.com/videos/facebooks-data-policies-are-like-cigarette-labels) also resumed their downward spirals to start the quarter.

Share:
More In Business
Disney content has gone dark on YouTube TV: What you need to know
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
Load More