A trade spat between the U.S. and China erupted Friday, sending U.S. stocks spiraling, with all three of the major averages down over 1% midday and on pace for the worst session since August. Ticker Security Last Change Change % I:DJI DOW JONES AVERAGES 45619.04 -739.38 -1.59% SP500 S&P 500 6581.64 -153.47 -2.28% I:COMP NASDAQ COMPOSITE INDEX 22327.483398 -697.14 -3.03%

The Dow Jones Industrial Average was off more than 500 points in afternoon trading. Still, all three of the major benchmarks remain near record highs.

.Sources tell FOX Business that President Donald Trump is "pissed off" after a briefing about China's new announcement of export controls. Now, a meeting between Trump and Chinese President Xi Jinping due to take place in South Korea in two weeks, is likely to be

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