US stocks are facing a second straight day of losses, after President Donald Trump threatened to unleash a new barrage of retaliatory tariffs on China over the coronavirus crisis.

The Dow Jones Industrial Average fell over 400 points while both the S&P 500 and the Nasdaq Composite lost around two percent.Thus all three indexes extended Thursday losses that came on gloomy jobless data.

Most European and Asian markets were closed for holidays on Friday. The London Stock Exchange was one of the few working, with the FTSE 100 index dropping almost two percent. In Asia, Japan’s Nikkei closed down nearly three percent.

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