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Dow Slumps on Trump Trade War Escalation

TheStreet Staff

Leading decliners Wednesday on the blue-chip Dow were Caterpillar Inc. fell after the drugmaker said Tuesday it would defer price hikes following talks with Donald Trump and said Wednesday that it plans to reorganize into three business units. Stocks on Wall Street closed sharply lower and global stocks tumbled on Wednesday, July 11, following the latest escalation in trade war rhetoric from the White House, which published a list of $200 billion worth of China-made goods it said will be hit with fresh tariffs.