NEW YORK (AP) — Stock markets worldwide are careening even lower Friday after China matched President Donald Trump’s big raise in tariffs in an escalating trade war. Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.
The S&P 500 was down 3.8% in midday trading, after earlier dropping more than 5%, following its worst day since COVID wrecked the global economy in 2020. The Dow Jones Industrial Average was down 1,349 points, or 3.3%, as of 11:30 a.m. Eastern time, and the Nasdaq composite was 3.8% lower.
So far there are few, if any, winners
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