As U.S. investors are plagued by doubts surrounding slowing global economic growth and ongoing trade tensions with China,... U.S. stocks closed sharply lower on Tuesday,... wiping out all of this year's gains.
Kim Hyo-sun tells us more.
The U.S. stock market's gains for 2018 were erased on Tuesday,... with continued declines on the New York Stock Exchange,... due largely to a sell-off of tech firm shares.
The Dow Jones Industrial Average fell 551-point-8 points, or 2-point-2 percent,... and even tumbled by as much as 650 points during the session.
The S&P 500 was down 1-point-8 percent,... while the tech-heavy Nasdaq was off by 1-point-7 percent.
The Dow and Nasdaq fell below the 25-thousand and 7-thousand marks, respectively.
The dip continued following signs of a global economic slowdown as well as no sign of improvement in the trade tensions between Washington and Beijing.
The Federal Reserve's continued policy of rate hikes is also being seen as a burden on U.S. investors.
A survey by CNBC on the Global CFO Council shows more than half of the respondents think the Dow will fall 2-thousand points from the current level before it rebounds.
Kim Hyo-sun, Arirang News.