Dow tumbles as many as 600 points amid mounting trade war fears

Markets Insider

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The Dow Jones industrial average fell by as many as 600 points Friday as fears of a global trade war are mounting amid retaliatory tariffs from China, escalated rhetoric from President Donald Trump, and a jobs report that failed to meet Wall Street expectations.

Trump said Thursday night that “in light of China’s unfair retaliation,” he had “instructed the USTR to consider whether $US100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products under which to impose such tariffs.”

Industrial stocks like Caterpillar and Boeing were among the Dow’s hardest hit, with shares of both companies declining more than 3%.

The yield for 10-year US Treasury bonds fell five basis points to 2.78%, while West Texas benchmark crude oil slid 2.4% to $US62 per barrel.

This story is developing and will be updated…

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