Stocks Suffer Worst Week of Year on Trade, Fed: Markets Wrap

U.S. stocks suffered the worst week of 2019 as investors fretted over Donald Trump’s escalation of his trade war with China. Treasuries rose, while the yen strengthened.

The S&P 500 fell for a fifth straight day, its steepest weekly loss since December’s sell-off. Trade angst recaptured center stage after Trump said Thursday he’d slap more tariffs on Chinese goods, adding to worries that the spat could derail the global economy. China vowed it would counter the threat. The president ratcheted up his rhetoric late Friday, saying he could boost the levies to a “much higher number.” Stocks were already under pressure after investors groused that the first Federal Reserve rate cut in a decade didn’t come with assurances of further easing.