👓 U.S. Stocks Battered by Trade, Yield Concerns: Markets Wrap | Bloomberg

Read U.S. Stocks Battered by Trade, Yield Concerns: Markets Wrap by Sarah Ponczek , Vildana Hajric , and Luke Kawa (Bloomberg)

U.S. stocks plunged, with the Dow Jones Industrial Average tumbling almost 800 points, as a litany of concerns wiped out the rally in risk assets.

Trade-sensitive shares sank as angst mounted that the U.S. and China made no meaningful progress on the trade front this weekend. Financial shares got hammered as the yield curve continued to flatten, with the latest nudge from a hawkish comment by a Federal Reserve official.