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Stocks suffer over trade tensions; Dow drops more than 500 points

Posted: 2:28 PM, Dec 07, 2018
Updated: 2018-12-07 19:31:10Z

Major indexes are sinking again as traders continue to unload stocks, extending dismal streak for the stock market.

Friday's sell-off erased more than 500 points from the Dow Jones Industrial Average, bringing its weekly drop to more than 1,000.

Technology and health care stocks led the way lower. Microsoft fell 3.4 percent.

Traders have been dumping stocks this week as doubts emerged about how much progress had been made on defusing trade tensions between the U.S. and China.

News that a prominent Chinese tech executive had been arrested at Washington's request suggested those tensions could get worse.

The Dow dropped 561 points, or 2.2 percent, to 24,394.

The S&P 500 fell 59 points, or 2.2 percent, to 2,636. The Nasdaq fell 190 points, or 2.7 percent, to 6,999.