S&P 500 plunges 6% to close its worst week since 2020 after China retaliates against Trump's tariffs

NEW YORK (AP) — The worldwide sell-off for financial markets slammed into a higher, scarier gear. The S&P 500 plummeted 6% Friday, the Dow Jones Industrial Average plunged 5.5% and the Nasdaq composite dropped 5.8%. Markets are facing their worst crisis since the COVID crash 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 was enough to stop the slide. The price of oil slid