Dow drops 100 points on trade war fears

(CNBC) Stocks fell on Friday as President Donald Trump stoked U.S.-China trade fears with the announcement of more tariffs while investors digested U.S. employment data.

The Dow Jones Industrial Average traded 119 points lower. The S&P 500 lost 0.7% while the Nasdaq Composite slid 1.3%. The major indexes also dipped below their 50-day moving averages, a key technical level watched by investors.

The Dow was down 2.7% for the week, on pace for its second-biggest weekly drop of 2019. The S&P 500 and Nasdaq were both down more than 3% and were on pace to post their worst week of the year.

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