U.S. stocks traded lower midway through trading, with the Dow Jones index dipping more than 1,100 points on Friday. Beijing unveiled a retaliatory 34% tariff on U.S. goods—mirroring the rate announced by President Donald Trump on Wednesday—deepening fears of a full-blown trade war.

The Dow traded down 4.03% to 38,909.97 while the NASDAQ fell 4.94% to 15,733.18. The S&P 500 also fell, dropping, 4.79% to 5,138.01.

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Leading and Lagging Sectors

Real estate shares fell by just 2.9% on Friday.

In trading on Friday, energy shares tumbled by 7.3%.

Top Headline

In March, nonfarm payrolls surged by 228,000, the Bureau of Labor Statistics reported Friday. The outcome is well above the three-month average of 195,000 and topped economists’ forecasts of 135,000. February's employment growth was downwardly revised to 117,000.

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Commodities

In commodity news, oil traded down 7.6% to $61.88 while gold traded down 2.3% at $3,049.80.

Silver traded down 6.9% to $29.77 on Friday, while copper fell 8.1% to $4.4360.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 5.12%, Germany's DAX 40 dipped 4.95% and France's CAC 40 fell 4.26%. Spain's IBEX 35 Index fell 5.83%, while London's FTSE 100 dipped 4.95%.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei 225 dipping 2.75% and India's BSE Sensex falling 1.22%.

Economics

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