Stocks Opened Lower after U.S., China Instituted New Tariffs

U.S. stocks opened firmly lower on Tuesday after the U.S. and China both raised tariffs on goods imported from the other. The Dow Jones Industrial Average lately retreated 221.17 points, or 0.84%, to 26,182.11. The S&P 500 fell 13.25 points, or 0.45%, to 2,913.21. The Nasdaq Composite slipped 24.44 points, or 0.31%, to 7,938.44.

U.S. oil futures headed nearly 2% lower Tuesday as an increase in tariffs heightened fears about a global recession. , with duties levied by Beijing also hitting some U.S. crude. West Texas Intermediate crude for the October delivery was down $1, or 1.8%, to reach $54.10 a barrel. November Brent crude lost 79 cents, or 1.4%, to $57.84 a barrel.

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