NEW YORK (AP) — A monthslong calm on Wall Street is shattering Friday, and U.S. stocks are falling after President Donald Trump threatened to crank tariffs much higher on China.

The S&P 500 sank 2% and was heading toward its worst loss since April. The Dow Jones Industrial Average dropped 598 points, or 1.3%, after earlier tumbling as many as 644 points. The Nasdaq composite was down 2.6%, as of 1:20 p.m. Eastern time.

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