From 6m
ago
15.42 EDT
Wall
Street slumps as hopes wane for tariff delays
The US
stock market is careening through a second straight day of stunning swings with
Wall Street’s main indexes flitting between red and green, as investors’ hopes
ebbed for US delays or concessions on tariffs ahead of a midnight deadline.
The
S&P 500 lost an early gain of 4.1%, which had it on track for its best day
in years, and slumped 1.7% with about an hour left in trading.
The Dow
Jones Industrial Average lost 403 points, or 1%, after giving up its earlier
surge of 1,460 points, while the Nasdaq composite was 2.4% lower, as of 3.13pm
Eastern time.
Stocks
globally had rallied much more earlier in the day, with indexes up 6% in Tokyo,
2.5% in Paris and 1.6% in Shanghai.
But even
after those jumps, analysts had been warning to expect more swings up and down
for financial markets not just in the days ahead but also the hours.
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