Stocks tumbled Friday after the President tweeted orders for all U.S. manufacturers to find alternatives to their operations in China. China also announced it would impose tariffs on more American goods in response to the Trump administration’s levies scheduled to go into effect Sept. 1. For the week, the Dow fell 0.98 percent to close at 25,628.90. The S&P lost 1.42 percent to finish at 2,847.11, and the NASDAQ dropped 1.83 percent to end the week at 7.751.77.
Major indexes rallied on the final day of a volatile week on Wall Street. Contributing to the optimism were a rise in bond yields from historic lows on Thursday, a rally in bank stocks and news of a potential economic stimulus in Germany. Still, the three major averages posted their third week of losses. For the week, the Dow fell 1.40 percent to close at 25,886.01. The S&P lost 0.94 percent to finish at 2,888.68, and the NASDAQ dropped 0.79 percent to end the week at 7,895.99.
Wall Street closed a volatile week with stocks dropping Friday. A contributing factor was a remark made by President Trump that diminished hopes of a U.S. – China trade deal in the near future. The President indicated talks scheduled for September may not take place. For the week, the Dow fell 0.61 percent to close at 26,287.44. The S&P lost 0.40 percent to finish at 2,918.65, and the NASDAQ dropped 0.56 percent to end the week at 7,959.14.
Stocks dropped Friday amid renewed trade fears. On Thursday, President Trump announced he would impose a 10 percent tariff on $300 billion worth of Chinese imports not currently subject to duties beginning Sept. 1. The S&P 500 and the NASDAQ saw their biggest weekly drops for the year, and the Dow had its second-worst week of 2019. For the week, the Dow fell 2.59 percent to close at 26,485.01. The S&P lost 3.07 percent to finish at 2,932.05, and the NASDAQ dropped 3.92 percent to end the week at 8,004.07.