Dow falls 1% as China-US trade spat intensifies — At midday

Dow falls 1% as China-US trade spat intensifies — At midday

But investors seemed to reconsider, and White House officials cautioned that Wall Street shouldn't overreact to fears of a trade war. "When you see China retaliate stronger than the U.S. that's a very strong signal that they mean business".

As reported by IBD, Apple is in position to potentially make dramatic increases in dividends and share buybacks.

Most traders said the initial slide - the Dow Industrials had fallen as much as 2.12 percent, the S&P 1.56 percent and the Nasdaq 1.86 percent - was an over-reaction. The S&P 500 fell 58 points, or 2.2 per cent, to 2,581, slightly above its low for the year reached February 8.

The Dow Jones Industrial Average (DJI - 24,505.22) rallied 240.9 points, or nearly 1%, as 25 of its 30 components closed higher. Not only have his own advisers begged to differ, but China's unexpectedly severe response to his steel and aluminum tariffs, combined with a series of additional Trumpian antics have sunk the equities market to levels not seen since 1929.

OVERSEAS: Britain's FTSE 100 surged 1.3 percent and Germany's DAX jumped 1.9 percent.

Microsoft rose 1 percent and Amazon climbed 1.3 percent.

The Shanghai Composite slipped 0.2 percent while Hong Kong's Hang Seng slumped 2.2 percent, with the decline accelerating in the final minutes of trading after Beijing announced specifics of its tariff hikes.

Japan's Nikkei added 1.5% and Korea's Kospi increased 1.2%.

Shares of Boeing, the single largest US exporter to China, tumbled 4 percent.

Facebook Chief Executive Mark Zuckerberg said the company had not seen "any meaningful impact" on usage or ad sales since the data privacy scandal.

Thus, in the absence of a major rotation, action in these key tech stocks may be critical to the market's next major move.

Wall Street shares plunged to their lowest level in weeks on Monday in a wide sell-off led by technology firms. Australia's S&P/ASX 200 edged 0.1 percent lower to 5,745.60. Some of those markers could be found in the charts favored by technical analysts - although they suggest investors still face considerable risk. The contract gained 50 cents to settle at $63.51 on Tuesday. If things persist then we have another higher low on the S&P500 which points to more solid rising trend support.

Former Fed President Janet Yellen gave her first paid speech since stepping down from her four-year stint as head of the central bank. "This is the president who is going to get us out of it".

In New York, Tesla Inc (NASDAQ:TSLA) added 7.25% to US$286.92, rebounding from recent losses.

Wholesale gasoline and heating oil both remained at $1.98 a gallon. The euro fell to $1.2264 from $1.2280. Silver gained 10 cents to $16.36 an ounce.

Smucker declined 39 cents to $123.31.

The dollar rose to 107.12 yen from 106.74 yen The euro fell to $1.2256 from $1.2280.

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