US stock markets drop as tech companies lead losses

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China trade war fears rattle investors and downfall of Carlos Ghosn hits Nissan and Renault shares

US stock markets dropped sharply on Monday as big technology companies led losses, and fears over an escalating trade war with China rattled investors. The Dow Jones Industrial Average briefly fell 500 points, ending the day down 396 points (1.56%).

Apple, Microsoft and Amazon, the most valuable companies on the market, sustained some of the worst losses. Apple dropped close to 4% on renewed worries that iPhone sales could slow and Amazon lost 5%. Facebook dropped 5.7% as the company continued to struggle with issues related to its reaction to the discovery of manipulation of its platform.

Related: Why are markets plunging and which stocks are worst hit?

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Source: china
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