* Trump advises U.S. companies to exit China. * China unveils retaliatory tariffs on U.S. goods. * Powell says will "act as appropriate" to support growth. * Indexes down: Dow 1.87%, S&P 2.00%, Nasdaq 2.53% By Stephen Culp.
By William Watts and Chris Matthews, MarketWatch. Fed's Powell leaves door open to rate cut, but gets blasted by Trump as' enemy'. Stocks tumbled Friday as the U.S.-China trade war took a sharper turn, with President Donald Trump saying he's ordering American companies to start looking for "an alternative to China," while readying additional measures after Beijing imposed retaliatory tariffs on imports of U.S. goods.
U.S. stocks slumped Friday after China said it would impose retaliatory tariffs on additional U.S. products and President Trump vowed to respond. The Dow Jones Industrial Average dropped more than 530 points, or 2.1%, putting a halt to a relatively quiet week for markets. Yields on U.S. government bonds also tumbled, as did commodities markets, such as oil and copper, that are sensitive to the two countries' trade battle.
* Indexes down: Dow 1.90%, S&P 1.94%, Nasdaq 2.33% * China unveils retaliatory tariffs on U.S. goods. * Powell says will "act as appropriate" to support growth. By Akanksha Rana and Medha Singh.
U.S. stocks slumped Friday after China said it would impose retaliatory tariffs on additional U.S. products and President Trump vowed to respond. The Dow Jones Industrial Average dropped more than 500 points, or 2%, putting a halt to a relatively quiet week for markets. Yields on U.S. government bonds also tumbled, as did commodities markets, such as oil and copper, that are sensitive to the two countries' trade battle.
* China unveils retaliatory tariffs on U.S. goods. * Trump tells U.S. companies to seek alternatives to China ops. * Powell says will "act as appropriate" to support growth. * Peppa Pig-owner Entertainment One (ENTMF) surges on Hasbro deal. * Kloeckner jumps on report of talks with Thyssenkrupp. By Agamoni Ghosh.
U.S. stocks slumped Friday after China said it would impose retaliatory tariffs on additional U.S. products and President Trump vowed to respond. The Dow Jones Industrial Average dropped about 450 points, or 1.7%, putting a halt to a relatively quiet week for markets. Yields on U.S. government bonds also tumbled, as did commodities markets, such as oil and copper, that are sensitive to the two countries' trade battle.
U.S. stocks slumped Friday on escalating trade tensions after China said it would impose retaliatory tariffs on additional U.S. products and President Trump vowed to respond. The Dow Jones Industrial Average dropped about 450 points, or 1.7%, putting a halt to a relatively quiet week for markets. Yields on U.S. government bonds also tumbled, as did commodities markets, such as oil and copper, that are sensitive to the two countries' trade battle.
U.S. stocks slumped after China said it would impose retaliatory tariffs on additional U.S. products and President Trump responded on Twitter, escalating the trade tensions that have rattled markets in recent weeks. The S&P 500 dropped 1.9%, on track to give up its gains for the week. The Dow Jones Industrial Average fell 1.8%, and the Nasdaq Composite declined 2.2%.
* USD index weakens after Powell speech, Trump tweets. * Trump expected to announce action on China later in the day. * Crude on track for weekly decline. By Rodrigo Campos. A global stock index fell alongside oil prices and U.S. yields after U.S. President Donald Trump threatened to further escalate his trade war with China "this afternoon" after a new round of retaliation tariffs from Beijing.
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