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US stocks plunge as details of Donald Trump-Xi Jinping meeting fail to assuage investors on trade war

2018-12-05 10:13:31       source:South China Morning Post

December 5, 2018

US stock markets plummeted on Tuesday as results of a weekend meeting between President Donald Trump and Chinese President Xi Jinping failed to convince investors that the trade war ceasefire was a true reprieve and as a key recession indicator kicked in.

The losses on Wall Street accelerated after investors dissected the nuances of the talks on Saturday in Buenos Aires announced by the Trump administration and China, reflecting worries that the initial read on a potential trade deal was overly optimistic.

The Dow Jones Industrial Average plummeted nearly 800 points, or 3.1 per cent, to 25,027.

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