Stocks tumbled as tensions between the United States and China continued to weigh on global markets on Thursday. Investors appeared to be reacting to a growing sense that the trade war between Washington and Beijing would continue indefinitely, and indeed was worsening. The Trump administration has blacklisted the Chinese telecommunications giant Huawei over security concerns, prompting Google and mobile carriers to limit their work with Huawei. The Trump administration is preparing to announce a substantial aid package for farmers as early as Thursday, in an effort to cushion the blow as the trade war drags on. ■ The S&P 500 was down about 1 percent in early trading, with trade-sensitive stocks falling further.

Source: New York Times May 23, 2019 11:03 UTC