Dow Stocks Plunge 600 Points As US-China Trade War Deepens

U.S. stocks continued their decline on Monday, with the Dow falling 600 points, as Trump slams China for “currency manipulation” following the weakening of the yuan by the country.

China allowed its yuan to sink to an 11-year low, fueling concern Beijing might use its currency as a weapon in the tariff war after Trump ratcheted things up last week with a surprise announcement of 10 percent tariffs on $300 billion of Chinese imports, effective Sept. 1.

Last week, China threatened to retaliate if President Trump’s planned tariff hikes go ahead.

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{Matzav.com}