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Wynn Shares Plunge Again, This Time After China Boosts Tariffs

M. Corey Goldman

hit yet another downdraft on Monday following China's announcement of retaliatory tariffs against the U.S., solidifying an all-out trade war between the two countries that investors feel will negatively impact Wynn's sizeable operations in Macau. Shares of Wynn were down more than 6%, or $8.30, to $121.59 on the New York Stock Exchange after China announced it would increase tariffs on as much as $60 billion worth of U.S. imports to as high as 25% following last week's collapse of trade talks between the world's two largest economies. China said the tariff increase on around 5,000 product groups would take effect on June 1.