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Wall Street Markets Continue Declines Into Afternoon

Wall Street Markets Continue Declines Into Afternoon
According to Reuters, the markets on Wall Street extended their morning declines into the afternoon.On May 23rd, the top three markets on the New York Stock Exchange dropped almost 2-percent each.The Nasdaq Composite led declines, falling 2.1-percent for 162-points of losses.The Dow Jones Industrial Average and the S&P 500 lost 1.7-percent each.The Dow Jones plummeted 441-points, bringing the top market down to 25,335.The S&P fell almost 50-points, bringing the benchmark index down to 2,807.Stocks began to drop after the Federal Reserve Bank of New York issued a report that estimated another round of tariffs against Chinese imports would cost the American household $831 annually.