The U.S. hiked tariffs on $200 billion worth of Chinese goods last week while China retaliated Monday with higher levies on $60 billion worth of U.S. products. The moves led to a massive sell-off to start off the week. But the major indexes have clawed back most of their losses through Thursday’s close.
Chinese stocks fell sharply overnight. The Shanghai Composite dropped 2.5% and posted its longest weekly losing streak since July 2018.
Market falls as trade fears were partially quelled on Friday after the Trump administration announced it would delay slapping tariffs on foreign-made cars by six months. Stock futures briefly pared losses on the news.