U.S. stock markets plummeted on Monday following China’s move to devalue its currency, Beijing’s latest step in a tense faceoff on trade with President Trump.
The Dow Jones Industrial Average was down more than 900 points, or 3.5 percent, in its worst one-day drop in 2019. The S&P 500 had fallen 107 points late in the trading session, or 3.7 percent.
If the Dow closes at that level, it would rank as the third-largest, single-day point drop in its history. The current top four all took place in 2018. In percentage terms, however, the plunge would not break the top 20.
View the complete August 5 article by Niv Elis on The Hill website here.