Wall Street tumbles toward its worst day since April after Trump threatens more tariffs on China
NEW YORK (AP) — A monthslong calm on Wall Street shattered on Friday, and U.S. stocks are falling after President Donald Trump threatened to crank tariffs much higher on China.
The S&P 500 sank 2.1% and was tumbling toward its worst day since April. The Dow Jones Industrial Average was down 668 points, or 1.4%, with an hour remaining in trading, and the Nasdaq composite was 2.8% lower.
Stocks had been heading for a slight gain in the morning, until Trump took to his social media platform and said he’s considering “a massive increase of tariffs” on Chinese imports. He’s upset at restrictions China has placed on exports of its rare earths, which are materials that are critical for the manufacturing of everything from…
