Stocks slump after US expands trade war to Mexico
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May 31, 2019
NEW YORK (AP) — U.S. stocks tumbled on Wall Street Friday after the U.S. announced plans to expand its trade war to Mexico.
The slump all but guarantees that May will be the first monthly loss for the market in 2019.
The new front in the trade war is hitting automakers particularly hard. Many of them import vehicles into the U.S. From Mexico.
Technology stocks led the decliners. They have been hurt the most over escalating rhetoric and tariffs in the U.S. trade war with China. Cisco fell 2.2 % and Apple fell 1.2%.
Banks were among the sharpest decliners as higher bond prices pushed yields lowe...
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