U.S. stocks nosedive as trade jitters return

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Stocks took a nosedive on Wall Street on Tuesday as investors worried that a U.S.-China trade truce reached over the weekend wasn't all it was cracked up to be.

The Dow Jones industrial average sank almost 800 points.

The Standard & Poor's 500 lost 90 points, or 3.2 percent, to 2,700.

The Dow dropped 799 points, or 3.1 percent, to 25,027. The NASDAQ composite fell 283 points, or 3.8 percent, to 7,158.

Boeing and Caterpillar, two major exporters thatwould have much to lose if trade tensions don't ease, weighed the most on the Dow.

Bond prices soared sharply, sending yields lower, as traders shoved money into lower-risk investments.

The sharp drop in yields hurt bank stocks because lower yields make it harder to earn money from lending. JPMorgan Chase shares sank 4.5 percent.
 

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