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Business reporter, BBC News
US stocks sank as the opening bell rang on Wall Street following the long Labor Day weekend when new tariffs were introduced in the ongoing trade war between the US and China.
The Dow Jones Industrial Index tumbled by more than 1% to 26,153. Meanwhile, the S&P 500 was 0.6% lower at 2,910 and the Nasdaq was down 0.4% at 7,931.
Asian stock markets were broadly steady on Wednesday.
In China, Hong Kong's Hang Seng index was flat, while the Shanghai Composite fell 0.3%.
Japan's benchmark Nikkei 225 was 0.2% higher.
BBC Radio 5 Live
The American stock market rose yesterday after President Trump said the US and China will "very shortly" resume trade talks, in a move that will give many readers déjà vu.
Russ Mould, markets expert at AJ Bell, tells 5 live there's a lot of noise to cut through here for investors.
Computerised trading means stock markets rise and fall on this information, even if we've heard it all before. "As private investors the one thing people shouldn't do is get involved. All of this noise is just not helpful for investors."
Reuters has a good story about how a growing portion of trading in European stock markets is happening in the final five minutes of the business day.
Why does this matter, I hear you ask? Automated investments like exchange-traded funds use end-of-day pricing for their own valuations and they make up a bigger and bigger portion of investments.
This has led to concerns over whether enough shares are changing hands to make for accurate pricing.