Traders work after the opening bell Friday at the New York Stock Exchange. Investors are closely monitoring trade talks between the United States and China.
By Taylor Telford and Taylor Telford Reporter covering national and breaking news Email Bio Follow Thomas Heath Thomas Heath Local business reporter and columnist, writing about entrepreneurs and companies in the Washington metropolitan area Email Bio Follow May 10 at 1:06 PM Stock turbulence continued to rock U.S. markets on Friday — positioning them for their worst weekly finish of 2019 — as investors began to price the fallout from President Trump’s higher tariffs on Chinese goods.
The threat of higher tariffs, which took effect at 12:01 a.m. Friday, has sown unrest in global markets all week as investors and business executives try to parse the uncertainty and brace for what’s to come. Fears of the looming tariffs showed in many China-exposed companies Thursday, with Apple, Boeing and Caterpillar falling roughly 1 percent.
But the uncertainty was enough to rattle markets, especially since China has threatened retaliatory measures. After closing in the red Thursday, European markets rebounded across the board Friday. France’s CAC 40 was up 0.5 percent in morning trading. Germany’s DAX was up 0.8 percent, and England’s FTSE 100 had climbed 0.4 percent.
“We hope that the U.S. and China will meet each other halfway and make joint efforts to solve the existing problems through cooperation and consultation,” a spokesman said in a statement.
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