Stocks edged lower again on Wall Street, sending the S&P 500 down for its fifth consecutive day, as the Trump administration imposed fresh tariffs, escalating the trade war with China.
The benchmark American stock market index fell, led by declines in tech, energy and industrial shares.
Early Friday, the administration raised tariffs to 25 percent from 10 percent on Chinese imports that are worth about $200 billion a year. President Trump said the increase came in response to Chinese officials attempting to “renegotiate” a pact aimed at calling a truce in the trade war. China said it would respond with unspecified countermeasures.