S&P 500 falls to session low

S&P 500 Bears Make Way for Bulls

On Wednesday, China announced fresh tariffs on 106 USA products, including cars, whiskey and soybeans - less than 24 hours after the US administration issued a list of Chinese imports that it would target. All 30 Dow Jones Industrial Average components were lower in premarket trading.

Most of the Dow finished in positive territory, with Home Depot, Microsoft and Nike all winning more than two percent.

Trump said late Thursday that he was considering tariffs on $100 billion more in Chinese exports, which would triple what the United States is already planning.

If current gains for S&P 500 hold, it would be the best three-day run since Trump's election victory in November 2016.

Traders react as they work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., April 4, 2018. We have never fought a trade war with that much power behind the people we are fighting against. Boeing rose $7.46, or 2.3 percent, to $334.90 after a 1-percent drop. Some of the biggest gains are going to technology companies, retailers and banks. JPMorgan Chase gained $1.79, or 1.6 percent, to $112.22 and Citigroup added $1.16, or 1.7 percent, to $70.47. It fell as much as 758 points Monday, then recovered all of those losses, and late Thursday it was up as much as 519 points for the week.

The S&P 500 fell 56 points, or 2.1 percent, to 2,607.

Stocks are falling again as trade tensions heat up between the USA and China. Their large dividend payments make those stocks similar to bonds, and investors find the stocks more appealing in times of turmoil and falling bond yields.

Facebook (FB.O) share were down 1.3 percent. However, a proposal by President Donald Trump to impose stiffer tariffs on Beijing has introduced fresh volatility in to the market.

The S&P 500 closed up 0.7% at 2,662.79. The index is now down for the week. The Nasdaq composite slid 135 points, or 1.9 percent, to 6,940. The yield on the 10-year Treasury note rose to 2.83 percent from 2.81 percent.

As has been the case since the trade war fears surfaced, industrials were the worst hit.

The disappointing nonfarm jobs report also dented investor sentiment.

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