More than 1,100 points were washed away from the Dow in a couple of days amidst President Trump’s threats of clamping down on trade with China.
The announcement jerked Wall Street causing the worst slide in more than two years.
The Dow dropped 425 points, or 1.8%, on Friday, sinking back into a “correction” — a decline of 10% from the all-time high in January.
The Dow finished at its lowest point since November.
All three major indexes took their biggest weekly hit since January 2016.
The market failed to stage a rebound from Thursday’s plunge, which erased 734 points from the Dow.
A Chinese foreign ministry spokeswoman stated earlier, “China will not watch our legal interest being harmed. China will take all legal measures to protect our interest. We hope the U.S. can understand the core of mutual benefits, do not take actions that will harm both China and itself.”
Beijing vowed on Thursday that it would fight a potential trade war “until the end.”
Nigel Belle, Readers Bureau, Fellow
Edited by Jesus Chan
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