Stocks Plunge as China-U.S. Trade Fight Heats Up

The Dow Jones Industrial Average sank about 500 points, shortly after markets opened yesterday, as China’s retaliatory tariffs on American goods pummeled stocks around the world.

Beijing’s tariffs would place 25% duties on major American exports to China including airplanes, autos and soybeans, covering 106 categories of products and affecting $50 billion of goods.