A Day of Sound and Fury

Stock prices opened sharply lower yesterday after President Trump tweeted a vow Sunday to raise tariffs from 10 percent to 25 percent on $200 billion worth of imported Chinese goods. The stocks of companies that trade heavily with China were especially hard hit.

Boeing, the single largest U.S. exporter to China, fell 1.3 percent. Apple, which has also been sensitive to signs of weakness in China, declined 1.5 percent. The Philadelphia chip index slid 1.7 percent, since silicon chipmakers get a sizable portion of their revenue from China.

But before the day was over, the markets came bouncing back. The Dow Jones industrial index was down as much as 471 points, while the S&P 500 traded down 1.2 percent at its lows. The Dow came back to finish the day down just 67 points, while the S&P lost just 0.4 percent.