Dow plunges nearly 900 points as Trump reignites the trade war between the world’s two largest economies.

 

Dow plunges nearly 900 points as Trump reignites the trade war between the world’s two largest economies.

U.S. stocks ended sharply lower on Friday after President Donald Trump threatened to significantly raise tariffs on Chinese imports, reigniting fears of a renewed trade war between the world’s two largest economies.

The Dow Jones Industrial Average sank 879 points (1.9%), while the S&P 500 fell 2.71%, and the Nasdaq Composite dropped 3.56%.

Both the S&P 500 and Nasdaq logged their worst single-day declines since April, driven by steep losses in technology stocks. The Dow recorded its worst performance since May. According to FactSet, the S&P 500’s 2.71% plunge wiped out roughly $1.56 trillion in market value in just one session.

Trump, in a social media post, said he is considering a “massive increase” in tariffs on Chinese imports, asserting that “China should not be allowed to hold the world captive” through its control of rare earth exports.

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