Stocks continued to tumble in the U.S. Friday as financial markets suffered their biggest two-day drop since 2020.

US stocks cratered on Friday with the Dow Jones Industrial Average plunging more than 2,200 points after China stoked trade-war fears and Fed Chair Jerome Powell warned of higher

The S&P’s 9% loss since last Friday makes this stocks’ worst week since March 2020 and the fifth-worst week of the last 20 years, trailing only losses sustained in October 2008 and early 2020.

After China announced new retaliatory measures against the United States, President Trump responded that Beijing “PLAYED IT WRONG.”

The markets closed down around 4% after President Donald Trump’s announcement to slap reciprocal tariffs on global trading partners. The S&P 500 fell 4.8%, while the Nasdaq fell 6% — both their worst since 2020.

The U.S. dollar sank against major peers on Thursday, dropping to six-month lows against the euro, and the safe haven yen and Swiss franc, as investors grappled with how U.S. President Donald Trump's far-reaching tariffs will impact global trade and economic growth.

The US president, who has vowed to remake the global trade order, dismissed concerns, noting the US jobs market is strong.

Continued worries about the disruption of President Trump’s trade policies and retaliation by major trading partners, overshadowed an unexpectedly strong report on the U.S. labor market.

After the stock market plunged Wednesday following President Trump's newest tariffs, many Americans are seeing their retirement savings, particularly in 401(k) plans, take a hit. WCCO's Kirsten Mitchell explains what you can do now to help protect it.