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Market Extra: Here’s why the stock market took the China tariffs so hard

The stock market plunged Thursday in a broad selloff that analysts pinned largely on President Donald Trump’s announcement that he would impose tariffs on billions of dollars of Chinese imports.

For investors, it might inspire déjà vu after the administration’s decision in early March to impose tariffs on steel and aluminum imports provoked a steep selloff, only to see most of the decline reclaimed in subsequent weeks.

See:Worried about a trade war? Stock-market investors should think small

The decline Thursday accelerated into the close. At the finish, the Dow DJIA, -2.93% was down 724.42 points, or 2.9%, while the S&P 500 SPX, -2.52% dropped 2.5% — marking the biggest one-day percentage drop for both since early February.

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