Stocks tumble after Trump plans new tariffs on Chinese goods
Stocks dropped Friday after the Trump administration said it will impose a 25 percent charge on up to $50 billion in Chinese goods.
The Dow fell more than 200 points, with Caterpillar and Boeing lagging. The S&P 500 dropped 0.4 percent as tech and industrials fell. The Nasdaq shed 0.35 percent.
In a statement Friday, President Donald Trump said the measures would affect Chinese goods "that contain industrially significant technologies," without specifying those products. He added that the action comes "in light of China's theft of intellectual property and technology and its other unfair trade practices."
Trump also said the U.S. would impose more tariffs on Chinese goods if China retaliates with duties of its own on American products.
https://www.msn.com/en-us/money/markets/stocks-tumble-after-trump-plans-new-tariffs-on-chinese-goods/ar-AAyGErv?li=BBnbfcN
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