New York (CNN) — US stocks closed sharply lower Friday after President Donald Trump threatened to hike tariffs on imports from China, reigniting fears of a trade war that rocked global markets earlier this year.

The Dow fell 879 points, or 1.9%. The broader S&P 500 dropped 2.71% and the tech-heavy Nasdaq Composite slid 3.56%.

The S&P 500 and Nasdaq each posted their worst day since April as a slide in tech stocks led the market lower. The Dow posted its worst day since May.

Trump said in a social media post he is considering a “massive increase” in tariffs on imports from China, adding “There is no way that China should be allowed to hold the World ‘captive’” over rare earth exports.

His latest threat stems from accusations that China is imposing export controls on rare earths, slow

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