US: S&P 500 ends down 2.7% after Trump warns of big China tariffs

[NEW YORK] Wall Street stocks tumbled on Friday (Oct 10) after US President Donald Trump threatened “massive” tariffs on China, reviving trade war worries after months of improving relations between the countries.

All three major US indices finished firmly lower, with the broad-based S&P 500 down 2.7 per cent at 6,552.51.

The Dow Jones Industrial Average dropped 1.9 per cent to 45,479.60, while the tech-rich Nasdaq Composite Index sank 3.6 per cent to 22,204.43. AFP