U.S. stocks extend losses, Dow falls 1%

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Dow poised to see triple-digit fall as Trump announces China tariffs

The Dow Jones Industrial Average looked set to fall on Friday as President Donald Trump announced tariffs on $50 billion worth of Chinese imports, reigniting fears that a clash between the world’s largest economic power could erupt into a full-fledged trade war. Futures for the Dow fell nearly 200 points, or 0.8%, at 25,015, putting the Dow on track to post a fourth straight decline. Futures for the S&P 500 fell 0.5% at 2,774, while those for the Nasdaq-100 slumped by 0.5% at 7,277. Trump said the U.S. “will pursue additional tariffs” if China retaliates. Tariffs of 25% will be applied to goods from China that contain “industrially significant technologies,” the president indicated. China has already pledged retaliatory action.

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