Dow Jones Industrial Average falls 450 points at the open of trade Monday

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May 13, 2019 10:50am INDEXDJX:.DJI NYSE:DIA

From William L. Watts: U.S. stocks fell sharply at the opening bell Monday after China retaliated for the Trump administration’s decision last week to raise tariffs on Chinese imports. Beijing said it would move to raise tariffs as high as 25% on $60 billion of U.S. goods. President Donald Trump over the weekend and Monday insisted via Twitter that the U.S. has the upper hand in trade negotiations, while Chinese state media said Beijing would not bow to U.S. pressure. The potential for an impasse appeared to sour sentiment, contributing to a global equity selloff. The Dow Jones Industrial Average DJIA, -2.02% dropped 463 points, or 1.8%, to 25,480, while the S&P 500 SPX, -2.11% declined 51 points, or 1.8%, to 2,831. The Nasdaq Composite COMP, -2.86% shed 181 points, or 2.3%, to 7,736. All 30 Dow components traded lower, with shares of Apple Inc. AAPL, -5.08% down more than 4% as it and other China-sensitive companies led decliners; shares of Caterpillar Inc. CAT, -4.13% and Boeing Co. BA, -3.00% were each down more than 3%.



The SPDR Dow Jones Industrial Average ETF (DIA) was trading at $254.49 per share on Monday morning, down $5.43 (-2.09%). Year-to-date, DIA has gained 3.73%, versus a 6.06% rise in the benchmark S&P 500 index during the same period.

DIA currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #4 of 83 ETFs in the Large Cap Value ETFs category.


This article is brought to you courtesy of MarketWatch.


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