NEW YORK (AP) – Stocks are ending lower on Wall Street as tensions ratchet up again between the U.S. and China just before the two sides are set to meet again to discuss trade.
Technology companies and banks took the worst of the losses Tuesday.
Qualcomm, a chipmaker which relies heavily on sales to China, fell 4.6%. Bank of America gave back 2.4%.
Safe-play sectors like utilities held up better.
The losses came after the U.S. blacklisted certain Chinese tech companies, saying they are helping Beijing repress Muslim minority groups there.
The S&P 500 fell 45 points, or 1.6%, to 2,893.
The Dow Jones Industrial Average lost 313 points, or 1.2%, to 26,164. The Nasdaq lost 132 points, or 1.7%, to 7,823.
Bond prices rose. The yield on the 10-year Treasury fell to 1.53%.