New York
CNN
—
US stocks were battered by a steep sell-off Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war.
The Dow plunged by 2,231 points, or 5.5%. The broader S&P 500 was 5.97% lower. The tech-heavy Nasdaq Composite was 5.82% lower.
The Nasdaq closed in a bear market for the first time since 2022, down more than 20% from its record high in December.
The Dow closed in correction, down more than 10% from its record high in December. It is the first time the Dow has closed in correction since March 7,…
