Sell-off worsens worldwide and Dow drops 1,700 after China retaliates against Trump tariffs

NEW YORK (AP) — Stock markets worldwide are careening even lower Friday after China matched President Donald Trump’s big raise in tariffs in an escalating trade war. Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.

The S&P 500 was down 4.8% in afternoon trading, after earlier dropping more than 5%, following its worst day since COVID wrecked the global economy in 2020. The Dow Jones Industrial Average was down 1,719 points...