US stocks tumble amid trade war fears
Losses on Wall Street deepened Friday afternoon amid anxiety over the US-China trade clash as the White House sent conflicting messages on trade policy.
The Dow Jones Industrial Average was down 2.3 per cent, or close to 600 points, at 24,364.52 around 1915 GMT.
The broad-based S&P 500 also dropped 2.3 per cent to 2,633.25, while the tech-rich Nasdaq Composite Index slumped 2.8 percent to 6,986.27.
Analysts said the declines reflected anxiety after the US-initiated arrest of a top Chinese Huawei executive was seen as exacerbating the US-China clash.
"The market is kind of falling back into our interpretation of where we are in the US-China trade war," said Art Hogan, chief market strategist at B Riley FBR.
The Huawei arrest dampened expectations that the US and China could quickly hash out a deal following a tariff ceasefire announced last weekend, Hogan added.
US President Donald Trump, only days after announcing a tariff ceasefire with Chinese leader Xi Jinping, said on Twitter that talks with China are "going very well!"
Disclaimer: No Business Standard Journalist was involved in creation of this content