- The Dow Jones industrial average opened down 230 points Friday after President Trump tweeted that ‘trade wars are good.’
- The drop comes after Thursday’s market selloff spread to Europe and Asia.
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Stocks are continuing their slide Friday, with the Dow Jones industrial average opening down 230 points, or 0.95%, after President Donald Trump said that ‘trade wars are good.’
“When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win,” Trump tweeted. “Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!” he said in a string of early morning tweets about newly announced tariff.
On Thursday, Trump confirmed new 24% taxes on imported steel and 10% on imported aluminum would be announced next week, sending the Dow down as much as 600 points at its lowest.
The S&P 500 was down 1.33% at open and the Nasdaq 100 were down 1.52%.
This story is developing and will be updated…