Stocks fell on Friday as traders were concerned about a combination of tariff and inflation-related news as the week came to a close.
President Donald Trump’s announcement that he was considering reciprocal tariffs on trading partners caused major benchmarks to fall during the session.
This can entail increasing all tariffs to the same levels as those imposed on the United States.
A drop of 452 points, or 1%, was recorded in the Dow Jones Industrial Average. The Nasdaq Composite fell 1.5% while the S&P 500 fell 1%.
The majority of the gains for the week by the main averages were erased by Friday’s losses.
In a meeting with the Japanese prime minister who was in town, Trump declared, “I’ll be announcing that next week reciprocal trade, so that we’re treated equally with other countries.”
Source (CNBC)
