Dow dives more than 500 points on trade tensions

Wall Street cuts losses as Kudlow promises China trade talks

Stocks dive as US proposes more tariffs on China

"As a sector, technology has the most to lose from a world in which global trade is restricted and of course, some of the subjects of the tariffs, will also be hit", said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.

"It's a reaction to concerns about the administration's approach to trade". Retailers say rising prices for imports would hurt vulnerable consumers, while major US industrial and agricultural exporters fear losing crucial business in China.

This time, he did not appear to convince investors.

"If the market is down it often tends to accelerate on Friday". China said it would "counterattack with great strength" if that happens.

At the start of the week, the USA announced plans to put tariffs on $50 billion in goods imported from China, and the Chinese government responded with measures of equal size.

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The Dow average, which contains numerous multinational companies including industrial powerhouses Boeing and Caterpillar, has swung dramatically this week, with about 1,300 points separating its lowest point Monday afternoon from its high late Thursday.

The Dow Jones and S&P 500 each made all-time highs earlier this year of 26,616.71 and 2,872.87, respectively. So, I'm not saying there won't be a little pain, but the market's gone up 40 percent, 42 percent - so we might lose a little bit of it - but we're going to have a much stronger country when we're finished.

The S&P 500 Index plunged more than 2 per cent and all 30 members of the Dow Jones Industrial Average retreated as President Donald Trump ordered a review of additional tariffs that prompted an aggressive response from China.

Suddenly the trade "not a war" was back in the headlines, and stocks were back in the red. Trump's top economic adviser Larry Kudlow said in various interviews that he learned of the new tariffs on Thursday night, but also said there are ongoing talks on trade between the United States and China.

The stock futures implied the S&P 500 would not only open below its 200-day moving average, a key support level watched by technical analysts, but also challenge its 2018 low from February 9.

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We also have a strategy to protect yourself as stock market uncertainty spikes... While annual growth in average hourly earnings rose to 2.7 percent, it stayed below the 3 percent that economists estimate is needed to lift inflation toward the Federal Reserve's 2-percent target.

The return of market volatility, fears of a trade war and the recent underperformance of some of the major indices' largest components have been a drag on stocks overall. The S&P 500 fell 0.31 percent to 2,654.7 and the Nasdaq Composite declined 0.26 percent to 7,058.23.

Facebook share were down 1.3 percent. The S&P closed below that level for the first time since June 2016 on Monday, but it subsequently rebounded above it. "The number of advancing stocks on the NYSE are outnumbering decliners 2,347 to 486, or by an 5-to-1 margin".

Drilling into the technicals for S&P 500 ETF Vanguard (VOO), we have noticed that the Relative Momentum Indicator, or RMI, has been trending higher over the past week.

About 7.2 billion shares changed hands on United States exchanges.

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