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Updated Nov 19, 2018 4:08 pm EST
Technology stocks led to a fall on Wall Street, with Apple and Facebook falling behind leading indices. The Dow briefly sank 500 points, but recovered the worst of its losses to close at 395 points, to 25.017.
The S & P 500 index fell 1.6%, closing at 2,690. The Nasdaq composite lost more than 3%, falling to 7,028.
Apple lost nearly 4% and Facebook dropped 5.2%. The chip maker Nvidia has again dropped 12% to 144.70 USD after declaring last week that it owned a large number of unsold chips because of a sharp decline in the exploitation of cryptomonnaies.
Nissan shares in the United States fell more than 5 percent after the arrest of automaker president Carlos Ghosn after allegedly under-reporting his income.
The parent company of California-based Pacific Gas & Electric fell again after revealing a power line failure at the start of a deadly fire on the morning of the fire. San Jose's Mercury News reported Saturday that the company had said in a statement that it was down at 8:45 am on Nov. 8 at Concow. The authorities claim that 76 people were confirmed dead in the camp fire.
PG & E shares fell 4.5% to $ 23.29. The title has lost half of its value since November 8, despite a major rally Friday.
The clashes between China and the United States at the Pacific summit this weekend have left investors pessimistic about the prospects for an agreement that would put an end to trade tensions between the two largest economies of the world. world.
The United States has imposed a tariff of 10% on the $ 200 billion worth of Chinese goods and this tariff will increase to 25% on January 1st. An additional $ 50 billion of Chinese goods is already subject to 25% duty. Beijing responded by imposing $ 110 billion worth of US products.
Discussions are ongoing ahead of a meeting between Chinese President Xi Jinping and President Donald Trump scheduled for the G-20 summit later this month.
The price of bonds has not moved much. The yield on the 10-year Treasury Note remained stable at 3.07%.
© 2018 CBS Interactive Inc. All rights reserved. This material may not be published, disseminated, rewritten or redistributed. Associated Press contributed to this report.
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