Dow posts triple-digit drop as trade war fears persist

By , StocksFOXBusiness

US stocks fall amid trade worries with China

FBN’s Charles Payne on how the stock market reacted to China’s retaliatory tariffs against the U.S.

U.S. stocks fell to start the week after the Trump administration moved forward with plans to impose tariffs on $50 billion dollars of Chinese goods.

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The Dow Jones Industrial Average dropped 103.01 points to 24,987.47. The S&P 500 ticked 5.79 points lower to 2,773.87. The Nasdaq Composite posted a slight gain, rising 0.65 points to 7,747.02.

As expected, China retaliated to the U.S.'s tariff plan with a matching amount of levies on U.S. goods, and now concerns are percolating that the back and forth will lead to an all-out trade war.

SP500S&P 5002888.68+41.08+1.44%
I:DJIDOW JONES AVERAGES25886.01+306.62+1.20%
I:COMPNASDAQ COMPOSITE INDEX7895.993811+129.38+1.67%

Economic data out on Monday included the National Association of Homebuilder’s housing market index for June, which fell by 2 points to 68. The gauge of future sales conditions fell to a seven-month low of 76 as builders are starting to fret about input costs.

Meanwhile, incoming New York Fed President John Williams spoke at a conference focused on reforming behavior in financial services.

In company news, Chinese e-commerce retailer Inc.'s U.S.-listed shares were moving higher after Google announced that it had invested $550 million in the company.

U.S. oil futures climbed 1.3% to $65.69 a barrel.

FOX Business’ Ken Martin contributed to this article.

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