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Stocks tumbled again on Friday after China said it would impose a 34% tariff on US imports, while European markets continued to slide.

The S&P 500 plummeted 6.0% on Friday, April 4, after China responded to Trump's tariff declaration with its own duties on goods imported from the U.S.

The index ended down 5.8% on Friday, after China announced additional tariffs of 34% on U.S. goods in retaliation for steep tariffs Trump announced against China on Wednesday. The Nasdaq Composite index ended down 962.82 points at 15,587.79, versus its December record close of 20,173.89. Along with the S&P 500 and the Dow Jones Industrial Average, the Nasdaq also on Friday marked its deepest two day selloff since March 2020, at the height of the COVID-19 pandemic.

Nvidia and Tesla led megacaps lower on Friday as stocks continued to sell off amid a global trade war.

(Bloomberg) -- The S&P 500 Index declined to the lowest level in 11 months, slashing $5.4 trillion in market value in just two sessions as Federal Reserve Chairman Jerome Powell said the Trump administration’s tariffs “could have a persistent impact on inflation.”Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersMetro-North Is Faster Than Acela on NYC-New Haven Route After Signal UpdatesLocal Governments Vie for Fired Federal WorkersWhat Would ‘Transportation Abundance’

(Bloomberg) -- The Cboe Volatility Index closed at the highest level since April 2020, as a spiraling trade war pushed the S&P 500 to an 11-month low.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersMetro-North Is Faster Than Acela on NYC-New Haven Route After Signal UpdatesLocal Governments Vie for Fired Federal WorkersWhat Would ‘Transportation Abundance’ Look Like?London Clears Final Hurdle for More High-Speed Trains to EuropeTotal put option volume rose to a record

Delta Air Lines is set to report first-quarter results Wednesday, with analysts having grown more cautious about air travel demand amid rising economic uncertainty.