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Wall Street ends down as global trade worries mount; Dow falls over 2%

The Dow Jones Industrial Average fell 572.46 points, or 2.34%, to 23,932.76, the S&P 500 lost 58.37 points, or 2.19%, to 2,604.47 and the Nasdaq Composite dropped 161.44 points, or 2.28%, to 6,915.11

Caroline Valetkevitch | Reuters  |  NEW YORK 

US stocks dropped about 2% on Friday, with the Dow falling more than 570 points, as US President Donald Trump's latest tariff threat on Chinese imports fuelled increasing concern over a U.S. trade war with China. Stocks added to losses and hit session lows in afternoon trading after Federal Reserve Chairman Jerome Powell said the US central bank will likely need to keep hiking interest rates to keep inflation under control and said it was too soon to know if rising trade tensions would hit the US economy. Fears of a trade war since Trump announced tariffs on steel and ...

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First Published: Sat, April 07 2018. 03:01 IST