By Chibuike Oguh

NEW YORK (Reuters) -Investor worries that Wall Street’s record stock rally would soon fizzle loomed large after tariffs re-emerged as a market risk.

U.S. equity markets, fresh off midweek record highs, performed an about-face on Friday after President Donald Trump revived threats to hike tariffs against China, triggering worries that a possible tit-for-tat trade drama between the world’s two biggest economies could mark the end of a record-breaking rise in U.S. equities.

Trump, who was due to meet Chinese President Xi Jinping in about three weeks in South Korea, canceled the meeting and complained on social media about what he called China’s plans to hold the global economy hostage after it dramatically expanded its rare earths export controls on Thursday.

TARIFF TALK

See Full Page