U.S. stocks slump after Trump commits to impose tariffs

NEW YORK, Jan. 31 (Xinhua) -- U.S. stocks dived on Friday, after the White House confirmed that tariffs on Mexico and Canada would take effect on Saturday.

The Dow Jones Industrial Average fell 337.47 points, or 0.75 percent, to 44,544.66. The S&P 500 sank 30.64 points, or 0.50 percent, to 6,040.53. The Nasdaq Composite Index shed 54.31 points, or 0.28 percent, to 19,627.44.

Nine of the 11 primary S&P 500