Trump stoked U.S.-China trade war fears with the announcement of more tariffs and as traders assessed U.S. employment data. For the week, the S&P 500 and Nasdaq were both down more than 3% and were on pace for their worst week of 2019. The Dow is down more than 2.5% this week. The Dow traded 275 points lower, the S&P 500 dropped 1.2%.
Trump breaks a truce in the long-running trade war between the world’s two largest economies, with investors fearful it could further disrupt global supply chains. China pushed back against Trump’s latest tariff threat on Friday morning, reportedly saying the world’s largest economy should give up its illusions, shoulder some responsibility and come back to the right track on resolving the trade war.
