US stocks tumbled on Friday, extending a sell-off in the wake of dour economic reports and closing the book on a holiday-shortened week fraught with new tariff threats and worries of softening consumer demand.
Economic data showed US business activity decelerating and consumer sentiment deteriorating, with survey participants expressing an increasingly gloomy outlook in the face of economic unknowns.
Among the 11 major sectors of the S&P 500, all but consumer staples ended lower, with consumer discretionary and tech suffering the steepest percentage losses.
All three major US stock indexes moved decisively lower on the heels of the data, and continued their slide into afternoon trading.
This week, Donald Trump said he will soon announce new tariffs covering lumber and forest products, on the heels of previously announced plans to impose duties on imported cars, semiconductors and pharmaceuticals.
.jpeg?trim=312,0,313,0&quality=75&auto=webp&width=1000)
