Stocks closed broadly lower on Wall Street Tuesday as tensions between the U.S. and China flared ahead of negotiations aimed at resolving the costly trade war between the world's two biggest economies. Technology companies, banks and health care stocks bore the brunt of the selling, which stretched the market's losses further into a fourth week. Envoys from the U.S. and China are scheduled to meet in Washington on Thursday for another round of trade talks. The Nasdaq, which is heavily weighted with technology companies, dropped 132.52 points, or 1.7%, to 7,823.78. The Trump administration's moves to blacklist select Chinese companies and restrict visas on certain officials dampened investors' hopes that the negotiations this week will yield progress.

Source: ABC News October 08, 2019 14:15 UTC