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U.S. Stocks Slide Amid Renewed U.S.-China Chip Tensions
U.S. Stocks Slide Amid Renewed U.S.-China Chip Tensions
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Wall Street opened lower as trade tensions between the U.S. and China resurfaced, with semiconductor restrictions at the center of the dispute. The Dow Jones Industrial Average fell 300 points at the open, while the S&P 500 and Nasdaq Composite slipped 0.53% and 0.57% respectively.
Investor sentiment soured as the S&P 500 snapped its six-day winning streak. The market had previously rallied on hopes of a trade truce between the world’s two largest economies, but fresh concerns over technology export controls have reignited volatility.
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