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September 01, 2020 1:37pm
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Markets plunge over trade war concerns

Concerns about an imminent trade war sent the markets tumbling to a sharply lower open with the Dow plummeting 214 points to 24,394. Nasdaq plunged 81 points to 7099.


On the upside


The Gap (NYSE: GPS) reported better than expected earnings and revenue for the fourth quarter.


Microsemi (Nasdaq: MSCC) will be acquired by Microchip Technology (Nasdaq: MCHP) in a deal valued at approximately $10.15 billion.


Nektar Therapeutics (Nasdaq: NKTR) narrowed losses for the fourth quarter as revenue surged.

On the downside


Foot Locker (NYSE: FL) fell to a loss for the fourth quarter.


JD.com (Nasdaq: JD) reported a loss for the fourth quarter.


Pure Storage (NYSE: PSTG) reported fourth quarter loss.


In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 dropped 19 points to 2,658. Bitcoin tumbled $137 to $10,835.


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