Major Wall Street stock indexes extended their losses on Friday, with the Dow Jones plunging by more than 1700 points. Investors' concerns over a global recession grew after China imposed a 34% retaliatory tariff on goods from the United States in response to US President Donald Trump's 34% tariff on Chinese imports.
The Dow Jones Industrial Average plummeted by 4.23% or 1716 points at 10:51 am ET, while the Nasdaq 100 tumbled by 4.48% at 10:57 am ET. Meanwhile, the S&P 500 fell by 4.11% at 10:58 am ET.
The euro slipped by 0.59% against the dollar and sold for $1.09889 at 11:00 am ET.
