U.S. stocks fell after President Donald Trump threatened 50 percent tariffs on the European Union that could begin in a little more than a week.
The S&P 500 lost 0.7 percent Friday and had its worst week in the last seven. The Dow Jones Industrial Average dropped 0.6 percent, and the Nasdaq composite sank 1 percent.
The losses were sharper in Europe after Trump said trade talks were going nowhere. Apple dropped after Trump threatened a 25 percent tariff on smart phones made outside the United States. U.S. stocks pared their loss through the day as traders weighed whether Trump’s latest threats were just negotiating tactics.
On Friday:
The S&P 500 fell 39.19 points, or 0.7 percent, to 5,802.82.
The Dow Jones Industrial Average fell 256.02 points, or 0.6 percent, to 41,603.07.
The Nasdaq composite fell 188.53 points, or 1 percent, to 18,737.21.
The Russell 2000 index of smaller companies fell 5.71 points, or 0.3 percent, to 2,039.85.
For the week:
The S&P 500 is down 155.56 points, or 2.6 percent.
The Dow is down 1,051.67 points, or 2.5 percent.
The Nasdaq is down 473.89, or 2.5 percent.
The Russell 2000 is down 73.40 points, or 3.5 percent.
For the year:
The S&P 500 is down 78.81 points, or 1.3 percent.
The Dow is down 941.15 points, or 2.2 percent.
The Nasdaq is down 573.59, or 3 percent.
The Russell 2000 is down 190.31 points, or 8.5 percent.
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