Markets plunge with S&P 500 down 6% and Dow down 2,200 after China retaliates against Trump tariffs

News Snapshot:

NEW YORK (AP) — Wall Street’s worst crisis since COVID slammed into a higher gear Friday. The S&P 500 lost 6% after China matched President Donald Trump’s big raise in tariffs announced earlier this week. The move increased the stakes in a trade war that could end with a recession that hurts everyone. Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide. The drop closed the worst week for the S&P 500 since March 2020, when the pandemic ripped through the global economy. The...