NEW YORK (AP) — Stocks slumped in afternoon trading on Wall Street Friday and Treasury yields fell sharply after the government reported a sharp slowdown in hiring last month.

Markets are also reacting to the latest tariff news . President Donald Trump once again extended the date at which punishing import taxes will take effect for a long list of countries. The tariffs are now expected to take effect Aug. 7 for countries that have yet to make a deal with the U.S.

The S&P 500 fell 1.2%. The decline marks a sharp shift for the index, which hasn't fallen by more than 1% since June. It is also on track for a weekly loss following last week's record-setting streak.

The Dow Jones Industrial Average fell 451 points, or 1% as of 12:01 p.m. Eastern. The Nasdaq composite fell 1.6%.

Worries

See Full Page