Stocks sink as trade conflicts escalate

Stocks closed broadly lower Tuesday after President Donald Trump indicated he was in no hurry to make a trade deal with China. (MGN/file)
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NEW YORK (AP) Stocks closed broadly lower Tuesday after President Donald Trump indicated he was in no hurry to make a trade deal with China.

Technology companies, which do a lot of business with China, stocks led the declines. Intel lost 2.8%.

Trump said he had "no deadline" for making a deal, suggesting there may not be an agreement this year, as previously hoped.

Investors were also disappointed that the U.S. proposed tariffs on French goods, a day after announcing taxes on steel and aluminum imports from Chile and Argentina.

The S&P 500 fell 20 points, or 0.6% to 3,093.

The Dow Jones Industrial Average dropped 280 points, or 1%, to 27,502.

The Nasdaq lost 47 points, or 0.6%, to 8,520.

Bond prices rose.

The yield on the 10-year Treasury fell to 1.72%.