Wall Street’s main indexes opened lower on Friday as markets assessed the latest escalation in the trade war, with China increasing its tariffs on U.S. imports to 125%.
U.S. stocks are shaky as Wall Street’s monstrous week heads toward its close. The S&P 500 fell 0.7% in early trading Friday. The Dow Jones Industrial Average dropped 306 points, and the Nasdaq composite sank 0.4%. The drops erased more of the huge gains stocks made in the middle of the week after President Donald Trump paused tariffs on many countries outside of China. The rising price of gold, falling value of the U.S. dollar and moves in other financial markets indicate more fear after China’s latest escalation in the trade war.
The Dow Jones Industrial Average fell 100.2 points, or 0.25%, at the open to 39493.42. The S&P 500 fell 12.5 points, or 0.24%, at the open to 5255.56, while the Nasdaq Composite dropped 28.8 points, or 0.18%, to 16358.532 at the opening bell
