Stocks take it on the chin for a second day, with tech hit especially hard

The Dow Jones Industrial Average notched a third day of hefty losses as investors continued to weigh the implications of an escalating trade war with China. The Dow closed at 26,461, down about 98 points or 0.4%. The Dow was down as much as 300 points midday. The S&P 500 finished the day at 2,932, down 22 points or 0.7%. The Nasdaq lost 108 points – 1.3% – and closed at 8,004. The losses in the stock market came even as the Labor Department announced a solid pace of hiring in July. Dow component Exxon Mobil Corp. weighed on that index, as shares fell 1% after the company missed Wall Street expectations.

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