Overview

• President Trump announced 50% tariffs on Brazilian goods and threatened 35% duties on Canadian imports on Friday.
• The Dow fell 0.63% to 44,371.51, the S&P 500 dropped 0.33% to 6,259.75, and the Nasdaq lost 0.22% at 20,585.53 points.
• Only three of the 11 main S&P 500 subsectors ended higher, while financial stocks led the market declines ahead of the quarterly earnings season.
• All three major U.S. indexes posted weekly losses of 1.08% for the Dow, 0.31% for the S&P 500 and 0.08% for the Nasdaq.
• The European Union is preparing its own tariff measures in response, raising the risk of further escalation in global trade tensions.