US stocks plunge following Huawei arrest, trade fears

NEW YORK (AP) — Stocks are plunging again as the arrest of a senior Chinese technology executive threatened to worsen trade tensions between Beijing and Washington.A steep drop in Boeing, which would suffer in an extended trade battle, helped drag the Dow Jones Industrial Average down more than 600 points Thursday.

Traders shoveled money into bonds, a signal they see weakness in the economy ahead.

The price of oil fell 3.8 percent as OPEC leaders gathered to discuss production cuts, which traders suspect may not reverse a plunge in crude.

The Dow fell 638 points, or 2.5 percent, to 24,392.

The S&P 500 index lost 61 points, or 2.3 percent, to 2,638. The Nasdaq dropped 117 points, or 1.7 percent, to 7,040.

The yield on the 10-year Treasury fell to 2.84 percent.

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