Wall Street down 1 percent on tech woes, trade war fears

(Reuters) – U.S. stock fell sharply at the open on Thursday as technology stocks slumped on fears of increased regulations in the wake of Facebook Inc’s (FB.O) data privacy issues, while the United States’ plan to impose tariffs on China stoked fears of a trade war.

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., March 21, 2018. REUTERS/Lucas Jackson

The Dow Jones Industrial Average .DJI fell 277.24 points, or 1.12 percent, to 24,405.07. The S&P 500 .SPX lost 27.14 points, or 1.000763 percent, to 2,684.79. The Nasdaq Composite .IXIC dropped 87.81 points, or 1.2 percent, to 7,257.47.

Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D’Souza

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