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The Dow Opens 230 Points Down As Market Recoils At Oncoming Trade War

Screengrab/CBC News/YouTube

President Trump threatened more tariffs on Chinese goods Thursday in response to China's retaliation Wednesday.

President Donald Trump’s threat to levy a fresh set of tariffs on Chinese goods -- to the tune of $100 billion worth -- had an expected adverse effect on the stock market Friday.

The Dow opened 230 points down on the news.

Trump issued a statement Thursday evening calling on U.S. officials to assess further action:

"In light of China's unfair retaliation, I have instructed the [United States Trade Representative] to consider whether $100 billion of additional tariffs would be appropriate," the president said in a statement.

U.S. stocks had finished higher on Thursday before the latest statement amid attempts by the Trump administration to talk down recent trade tensions. Still, concerns remained that the latest trade-related development could signal more uncertainty ahead.

"Markets rallied on the idea the tariffs were just to start a negotiation. Trump's $100 billion comment implies this is going to get a lot more serious and basically quasi-shatters the idea that the tariffs were just a negotiation starting point," Tom Essaye, founder of The Sevens Report, said.

The president’s latest move comes on the heels of China’s retaliatory tariffs on $50 billion of U.S. goods after Trump issued a similar action earlier in the week.

According to MarketWatch, though the Dow fell 1 percent Friday, it was up 0.7 percent for the week.

PUSSY GRABBER TWEETS - MARKETS TANK AGAIN How far does this have to go before somebody hides this brain-dead moron's cell phone? Lemme guess: Someone with a 401K ?

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