Dow slides over 400 pts on Trump’s China remarks

Stock markets in the United States plunged deeper on Thursday as market participants reacted to the latest announcement from US President Donald Trump,

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who “ordered” American companies via Twitter to “immediately” start looking for alternatives to China and advised them to have their products made in the US, pledging to put an end to China’s longstanding practice of stealing “intellectual property at a rate of hundreds of billions of dollars a year.”

The Dow Jones Industrial Average plummeted 430 points, or 1.66% at 11:47 am ET as Apple lost 3.98%. The tech-heavy Nasdaq 100 dropped 2.20% at the same time as Hasbro dived 7.41%. Meanwhile, the S&P 500 lost 1.72%, also thanks to Hasbro.

The euro advanced 0.50% against t he US dollar, to go for 1.11359 at 11:50 am ET.