A board above the floor of the New York Stock Exchange shows the falling Dow Jones Industrial Average on Monday. Photo: AP

US stocks plummet as China announces trade war retaliation involving currency value and farm purchases

  • Dow, Nasdaq and S&P plunge as Beijing allows the yuan to weaken below 7 to the US dollar and says it will stop buying US agricultural goods
  • Technology stocks are among the hardest hit, as the sector stands to suffer more than others if the trade war keeps escalating
Topic |   Currency war

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A board above the floor of the New York Stock Exchange shows the falling Dow Jones Industrial Average on Monday. Photo: AP
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Jodi Xu Klein

Jodi Xu Klein

Jodi Xu Klein is an award-winning business journalist with 20 years of experience. She joined the Post in 2017, after a decade based in the US reporting for The Wall Street Journal and Bloomberg. She was part of the Time Magazine team that won the Henry R. Luce Award, breaking the China SARS story.

Daniel Bases

Daniel Bases

Daniel joined the Post as US correspondent in 2019 to cover the evolving US-China relationship. He’s an award-winning print and broadcast correspondent and editor who analyses and reports on financial markets, foreign policy and general news. He started his journalism career at CNN then spent 22 years with Reuters on assignments in Europe, Asia and Latin America.