Damian J. Troise, Associated Press Published 10:51 a.m. ET May 7, 2019 | Updated 11:57 a.m. ET May 7, 2019

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President Donald Trump threatened on Twitter to hike tariffs on 200 billion US dollars worth of Chinese goods Sunday. AP

NEW YORK – Stocks fell broadly on Wall Street Monday moved closer to reality.

U.S. Trade Representative Robert Lighthizer said higher tariffs on China will take effect on Friday. The deadline for more tariffs looms over negotiations, which are set to resume on Thursday in Washington.

Every sector fell, extending the market’s losses into a second day. Technology companies and banks led the decline. Utilities, normally safe-play holdings for investors, fared better