New York CNN —
US stocks mostly fell on Friday after President Donald Trump threatened a 35% tariff on Canada — a sharp escalation in an ongoing trade war.
The Dow was lower by 364 points, or 0.81%, as of midday. The broader S&P 500 fell 0.41% and the tech-heavy Nasdaq Composite dropped 0.14%.
Stock futures dropped Thursday night after Trump announced the 35% tariff on Canada, set to take effect on August 1. The S&P 500 was on track to snap back-to-back days of gains.
Global stock markets had largely shrugged
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