- The S&P 500 index fell 3% on Monday as the stock market turned in its worst day of 2019.
- The losses came after China retaliated against the US for hitting the country with new tariffs.
- China’s central bank allowed its currency to fall below a key threshold against the US dollar, which compounded trade-war fears among investors.
- Here are the eight biggest losers in the S&P 500 on Monday.
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The escalating trade war between the US and China sent the stock market on a downward spiral to its worst day of 2019 on Monday.
The sharp sell-off came after China let the value of its currency slip below a key level on Monday in response to President Trump imposing a 10% tariff on an additional $300 billion worth of Chinese products.
The drop follows the worst week of the year for the S&P 500 index, which fell 3.1% for the five-day period ending last Friday after Trump announced his plan to hit China with more tariffs.
Below are the biggest losers within the S&P 500, as of Monday.
Stock decline: -6.03%
7. Diamondback Energy
Stock decline: -6.20%
Industry: Financial services
Intra-day move: -6.25%
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