US stocks fell Friday and the S&P 500 slipped from a record high after President Trump slapped Canada with a 35% tariff and threatened higher levies on most other nations.
The S&P 500 plunged 0.4% to 6,253.10 after reaching a new record Thursday of 6,280.46.
The Dow Jones Industrial Average lost 262 points, or 0.6%, and the Nasdaq fell 0.3% by approximately 9:30 a.m. ET.
The S&P 500 plunged 0.4% to 6,253.10 after reaching a new record Thursday of 6,280.46. AP
Trump on Thursday sent Canadian Prime Minister Mark Carney a letter alerting that the US would impose a 35% tariff on Canadian imports starting Aug. 1.
He blamed the levies on a national fentanyl crisis and “Canada’s failure to stop the drugs from pouring into our Country.”
That 35% tariff rate will only jump higher if Canada retaliates, Trump warned.
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