Stocks slump on jitters over trade war and Fed's next move
Stocks fell Friday as President Donald Trump stoked U.S.-China trade fears with the announcement of more tariffs and as traders assessed U.S. employment data.
The Dow was down 240 points as the S&P 500 dropped 1% and the Nasdaq slumped 1.6%.
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.
In a series of tweets Thursday, President Donald Trump said the 10% charge would be imposed on $300 billion worth of Chinese goods.
The levy will take effect starting September 1. Trump said later on Thursday he was open to shelving that tariff if China stepped up its U.S. agricultural purchases.
The move 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.
https://www.msn.com/en-us/money/markets/stocks-slump-on-jitters-over-trade-war-and-feds-next-move/ar-AAFe99C
= new reply since forum marked as read
