Wall Street slumps as visa restrictions stoke US-China worries

NEW YORK: U.S. stocks ended down sharply on Tuesday as news that the United States was imposing visa restrictions on Chinese officials overshadowed comments by Federal Reserve Chairman Jerome Powell that pointed to openness to further rate cuts.

The Dow Jones Industrial Average fell 314.59 points, or 1.19per cent, to 26,163.43, the S&P 500 lost 45.8 points, or 1.56per cent, to 2,892.99 and the Nasdaq Composite dropped 132.52 points, or 1.67per cent, to 7,823.78.

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