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Dow Drops Almost 800 Points Amid Doubts About China Trade Deal

The stock market took a turn for the worse on Tuesday, dropping almost 800 points in the biggest decline since October. CNBC reports that the Dow Jones Industrial Average dropped 799.36 points, or 3.1 percent, at Tuesday’s close—its worst day since October 10. The S&P 500 declined 3.2 percent at the close, and the Nasdaq also dropped 3.8 percent. According to CNBC, “doubt” about a recent trade deal between the U.S. and China made over the weekend “crept into investors’ minds” after the Dow surged 300 points yesterday. Both countries agreed to hold off on imposing tariffs on one another over the weekend, but “discrepancies” over the agreement has led to confusion. On Twitter, President Trump confirmed that trade talks with China were occurring but threatened tariffs if a deal does not come through. “President Xi and I want this deal to happen, and it probably will. But if not remember,......I am a Tariff Man,” Trump tweeted Monday morning.