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Stock dive as trade tensions heat up between U.S. and China

Traders work on the floor during the Spotify IPO at the Dow Industrial Average at the New York Stock Exchange on April 3, 2018 in New York. (Bryan R. Smith/AFP/Getty Images)

NEW YORK  — Stocks are falling sharply again as trade tensions heat up between the U.S. and China.

The Dow Jones industrial average fell as much as 620 points in afternoon trading Friday, its latest big swing this week.

Aerospace giant Boeing fell the most in the Dow, dropping 3.4 percent. Boeing and other industrial companies rely heavily on overseas sales and could suffer greatly if global commerce is curtailed by rising trade barriers.

Technology companies and banks also fell. Apple lost 2 percent and JPMorgan Chase gave up 2.9 percent.

The Dow fell 588 points, or 2.4 percent, at 23,909.

The S&P 500 fell 56 points, or 2.1 percent, to 2,607. The Nasdaq composite dropped 139 points, or 2 percent, to 6,937.