U.S. stocks fell in midday trading on Friday, with major indexes shedding an early advance to turn negative following a report that President Donald Trump still wants to impose tariffs on $200 billion of Chinese goods, the latest sign that the trade jitters will continue to hang over financial markets.
Equities have been in an uptrend recently, with the S&P 500 having risen for four straight sessions. The major indexes remain on track for a week of positive gains.
The Dow Jones Industrial Average fell 27 points, or 0.1%, to 26,119, while S&P 500 index lost 3 points, or 0.1%, to 2,901. The Nasdaq Composite Index shed 13 points to 8,001, a decline of 0.2%.
At current levels, the S&P is 0.5% below record levels, while both the Dow and the Nasdaq are within 2%.
For the week, the Dow was looking at a 0.8% gain, the S&P 500 a rise of 1.1% and the Nasdaq was poised for a 1.3% weekly rise. All three indexes were rebounding from last week’s declines.