Dow ends nearly 770 points lower as intensifying trade tensions trigger stock rout

Stocks suffered their biggest one-day decline of 2019 on Monday as China allowed its currency to fall to a more-than-10-year low versus the dollar after President Donald Trump rattled markets by announcing additional tariffs on Chinese goods late last week.

Stocks ended off of session lows, which had seen the Dow Jones Industrial AverageDJIA, -2.90%  drop by more than 900 points, but still suffered sharp losses. The Dow ended the day down 767.27 points, or 2.9%, at 25,717.74 , while the S&P 500 SPX, -2.98% declined 87.31 points, or 3%, to close at 2,844.74. The Nasdaq Composite COMP, -3.47% shed 278.03 points to finish at 7,726.04, a decline of 3.5%, as China-sensitive tech stocks came under pressure.

The rout marked the biggest one-day selloff, in percentage terms, for the Dow since Dec. 24 and the biggest drop for the S&P 500 and Nasdaq since Dec. 4. The drop marked the lowest close for the S&P 500 and Nasdaq since June 6 and the lowest finish for the Dow since June 5. It left the S&P 500 off 6% from its record close set on July 26, while the Nasdaq is off 7.3% from its all-time closing high set the same day and the Dow has pulled back 6% from its July 15 record finish.

The steep selloff came just one trading day after the S&P 500 and Nasdaq had their biggest weekly declines of 2019. - Read More

Dow ends nearly 770 points lower as intensifying trade tensions ...