A rough end to the week in the financial markets as the Dow Jones plunged 572 points amid escalating concerns over a trade war with China.
The Dow Jones Industrial average fell by more than 2 percent by closing bell Friday, rebounding from being down some 767 points at midday.
The fluctuations followed an announcement by President Trump Thursday that he was considering $100 billion in tariffs on Chinese exports on top of what he had already imposed.
For those depending on their investment portfolios for retirement, the highs and lows are particularly concerning.
“I’m not panicking, but it does always worry me,” said Martin Konowitch of Northampton. “My mother is actually closer to needing her money and her portfolio is a little more greatly affected, but I have a little more time, so I’m not quite as worried.”
At the closing bell Friday, the Dow was 10 percent below the all-time high it reached in January. Some people said this dip and all the recent volatility doesn’t deter them from investing in the stock market.
“I feel like this is a typical reaction, but I think that it will come back around,” said Zach Holt. “I feel pretty confident in the U.S. in general, and I think good things will happen shortly.”
And experts say, in the long run, it all evens out, and the market eventually goes higher.
Both China and the United States have threatened $50 billion worth of tariffs on each others exports.
A lot of eyes will be on the market Monday.