US stocks fall as trade concerns spark growth fears
Updated : May 30, 2019 06:24 AM IST
Trade tensions between the two largest economies in the world showed little signs of relaxing as Chinese newspapers warned that Beijing could use rare earth elements to strike back after President Donald Trump remarked on Monday that he was "not yet ready" to make a deal with China over trade.
Adding to worries, China's Huawei Technologies Co Ltd filed a lawsuit against the US government late on Tuesday in its latest bid to fight sanctions from Washington.
The Dow Jones Industrial Average fell 221.36 points, or 0.87 percent, to 25,126.41, the S&P 500 lost 19.37 points, or 0.69 percent, to 2,783.02 and the Nasdaq Composite dropped 60.04 points, or 0.79 percent, to 7,547.31.
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