Dow ends 400 points lower Tuesday after historic Taiwan visit defies China

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U.S. stocks closed lower for a second straight day on Tuesday, after U.S. House Speaker Nancy Pelosi defied China with a historic visit to Taiwan. The blue chip Dow Jones Industrial Average [djia] shed about 401 points, or 1.2%, ending near 32,396, while the S&P 500 index SPX, -0.67% closed 0.7% lower and the Nasdaq Composite Index COMP, -0.16% shed 0.2%. Stocks tumbled into the close, ended near the session’s worst levels after Pelosi became the highest ranking elected U.S. official to visit the island in 25 years. Although, diplomatic tensions between the U.S. and China weren’t the only focus for investors. Two top Federal Reserve officials also warned on Tuesday that expectations for the central bank to soon retreat from its aggressive rate-hiking stance, designed to curb high inflation, may be misguided, at least until U.S. costs of living start to retreat.

This article was originally published by Marketwatch.com. Read the original article here.

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