All three of the major indices on Wall Street fell on Thursday after the Chinese stock market dropped nearly three-percent to hit a nearly four-year low. <br />Our Ko Roon-hee looks into what may've caused the jolt to the financial system on both sides of the Pacific.<br /><br /> U.S. stocks closed lower on Thursday...with the main indices all falling more than one percent. <br />The Dow Jones Industrial Average tumbled more than three-hundred points, or some one-point-three percent.<br />The S&P 500 dropped over one-point-four percent, and the Nasdaq plunged more than two percent. <br /><br /> This comes after China's Shanghai Composite index slumped to a near four-year low on Thursday.<br />The Chinese renminbi also dropped to its lowest level against the U.S. currency since January 2017...as the U.S. Treasury failed to label China a currency manipulator.<br />Investors are worried these drops might lead to a global economic slowdown.<br /><br /> There are also renewed concerns about the trade-spat between the world's two economic superpowers.<br />Tensions show no signs of easing...after Larry Kudlow, the director of the U.S. National Economic Council, on Thursday referred to China as unfair and illegal traders stealing America's intellectual property. <br />China's Commerce Ministry said on the same day that the U.S. should drop its protectionist approach.<br /><br />"For the future development of China-U.S. trade, we hope the U.S. will drop the protectionist approach and create a stable business environment for small and medium-sized enterprises from both sides, to truly benefit the consumers of both countries."<br /><br /> Analysts say there are other reasons besides China...for the slide in U.S. stocks...such as uncertainty over relations between the U.S. and Saudi Arabia. <br />This is after Treasury Secretary Steven Mnuchin said he would not attend a high-profile investment conference in Riyadh due the controversy over a missing Saudi journalist who's presumed to have been murdered.<br />Ko Roon-hee, Arirang News. <br />
