Dow opens with 250 point drop after Trump's tariff threat against Mexico

U.S. stocks came under pressure at the opening bell after President Donald Trump threatened to impose tariffs on Mexican imports. The S&P 500 SPX, -1.08% fell 0.8% to 2,766. The Dow Jones Industrial Average DJIA, -1.12% shed 253 points , or 1%, to 24,917. The Nasdaq Composite COMP, -1.28% slipped 1.2% to 2,475. Equities slipped following Trump’s announcement that the U.S. would impose a 5% tariff on all Mexican imports, which would gradually increase every month unless that country halted the flow of illegal immigrants into the U.S. The tariffs would progressively increase until they hit 25% by Oct. 1. Reports that China was also contemplating different retaliatory measures also sparked further investor jitters. Shares of automakers with supply chains dependent on trade across the U.S.-Mexico border slumped on Friday. Shares of General Motors Co. GM, -4.01% fell 4.8%, while Ford Motor Co. shares F, -2.67% fell 2.9%.

See Full Story Stocks on track for worst May since 2010 as Trump threatens tariffs on Mexico

Stocks skid Friday, with the market on track for its worst May since 2010, after President Donald Trump unexpectedly announced plans to impose tariffs on imports from Mexico in an attempt to pressure the country to stem the flow of migrants across the U.S. border.

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