Wall Street sinks as U.S.-China trade tensions boil

 Wall Street sinks as U.S.-China trade tensions boil

NEW YORK (Reuters) - Wall Street tumbled on Friday after the U.S.-China trade war escalated in dramatic fashion, with President Donald Trump demanding that American companies seek alternatives to doing business with China after Beijing announced its own slate of retaliatory measures.

The Dow Jones Industrial Average <.DJI> fell 622.19 points, or 2.37%, to 25,630.05, the S&P 500 <.SPX> lost 75.7 points, or 2.59%, to 2,847.25 and the Nasdaq Composite <.IXIC> dropped 239.62 points, or 3%, to 7,751.77.

(Reporting by Stephen Culp; editing by Jonathan Oatis)

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Updated Date: Aug 24, 2019 02:07:46 IST