Global Trade Tensions Rattle U.S. Stocks as Nasdaq Plunges

U.S. stocks opened dramatically lower as China responded to U.S. tariffs, intensifying trade disputes. The Nasdaq Composite is now officially in a bear market, having dropped over 20% from its December peak. Significant declines were also seen across the S&P 500 and the Dow Jones Industrial Average.

U.S. stocks plummeted on Friday as tensions escalated in the global trade arena. China announced additional tariffs on U.S. goods in retaliation to the Trump administration's extensive levies.

This move drove the tech-focused Nasdaq Composite into a bear market, marking a decline of more than 20% from its all-time high in December.

The significant downturn saw the S&P 500 dropping 134.05 points to 5,262.47, while the Dow Jones Industrial Average fell 994.46 points to close at 39,551.47.

(With inputs from agencies.)