Stocks tumbled Friday as trade tensions between the United States and China heated up.
The Dow closed down 572 points, a drop of 2.3%, after President Trump threatened to escalate a confrontation with China over trade. It fell as much as 767 points earlier in the day. The S&P 500 and the Nasdaq each declined more than 2%.
Friday’s losses wiped out gains for the week, and the Dow sank back into correction territory — 10% below its all-time closing high in January.
Trump said late Thursday that he was considering tariffs on $100 billion more in Chinese exports, which would triple what the United States is already planning.
(By CNN)