This Tuesday, U.S. stocks underwent a plunge after sectors such as industrials, technology and basic materials experienced losses. What drove this decline was the dissatisfied sentiment of market participants after the tariffs that U.S. and China had imposed on each others goods became effective during the weekend. Sunday the United States inflicted a 15% tariff on $110 billion worth of goods from China. Meanwhile, Beijing responded by imposing  5% to 10% levies on $75 billion worth of goods from the U.S. As a result, the S&P 500 dropped 0.69%, breaking its three-day winning streak.

Some stocks that performed well in the S&P 500 were DaVita HealthCare Partners Inc., which experienced a 3.85% increase to 58.54, American Tower Corp. which surged 3.32% to conclude at 237.84 and Everest Re Group Ltd which experienced a 3.07% gain, closing at 241.67. 

Meanwhile, the stocks exhibiting the worst performance were Alexion Pharmaceuticals Inc. which fell 5.54% to 95.18 during late trading, IPG Photonics Corporation which experienced a 5.23% decline to conclude at 117.26 and Concho Resources Inc., which dropped 5.07% to 69.44 at the close.

During this precariousness in the market, safe haven assets rallied. Based on Refinitiv, prices, gold increased 1.8%  at $1,545.90 an ounce and went stable and the 10-year US Treasury bond yield plummeted to its worst level following the month of July last back in 2016. There is contradictory movement between prices and yields. 

By: Cyril Latrice Cajanding