Wall Street tumbles, Dow erases 2018 gains as trade worries worsen

Wall Street tumbles, Dow erases 2018 gains as trade worries worsenU.S. stocks slumped and the Dow Jones Industrial Average erased its gains for the year on Tuesday, as a sharp escalation in U.S.-China trade dispute jolted the markets and triggered a rush to safer assets. President Donald Trump, in an unexpectedly swift and sharp move, threatened to impose a 10 percent tariff on $200 billion of Chinese goods and Beijing warned it would retaliate. Trump said his move followed China’s decision to raise tariffs on $50 billion in U.S. goods, which came after U.S. announced similar tariffs on Chinese goods on Friday.


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