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Dow drops 400 points, extending losses after weak manufacturing sector report

https://www.cnbc.com/2019/09/03/stock-market-wall-street-monitors-latest-us-china-trade-tariffs.html

The U.S. imposed 15% tariffs on a variety of Chinese goods on Sunday, while China imposed new charges on U.S. products from Sept. 1. It marked the latest escalation in their long-running trade war.

Chipmakers such as Nvidia and Skyworks Solutions fell 1.8% and 1.6%, respectively. Boeing and Caterpillar both declined more than 2% while Apple lost 1.8%. Boeing was also under pressure after a report said the 737 Max jet could remain grounded through the holiday season.