U.S. stocks opened deeply in the red on Monday after China allowed its currency to fall to a fresh low against the dollar, upping the ante in the ongoing trade war. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -4.42% opened at 26,189, 1.2%, or 384 points lower. The S&P 500 /zigman2/quotes/210599714/realtime SPX -4.42% opened at 2,895, down 37 points, or 1.2%. The Nasdaq /zigman2/quotes/210598365/realtime COMP -4.61% was off 179 points, 2.2%, at the start of trading, to 7,822. Global stocks suffered steep declines as well. In pre-market trading, shares of Cars.com lost more than one-third of their value after the company announced it had received no bids to sell itself.
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Dow drops over 400 points as yuan slide deepens U.S.-China trade fight