S&P 500 ends down as tariffs sour sentiment

WALL STREET ended lower on Friday, with Meta Platforms weighing on the S&P 500 after President Donald J. Trump intensified his tariff offensive against Canada, amplifying the uncertainty swirling around US trade policy.

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Mr. Trump late on Thursday ramped up his tariff assault on Canada, saying the US would impose a 35% tariff on imports next month and planned to impose blanket tariffs of 15% or 20% on most other trading partners.

The S&P 500 eased from a record high the day before, with caution prevailing after Mr. Trump on Thursday imposed 50% tariffs on Brazil and as the European Union (EU) braced for a possible letter from Mr. Trump with details on fresh tariffs.

"The increased rhetoric around tariffs, what we’ve seen this week regarding Brazil and Canada, is certainly elevating the anxiety level," said Michael James, an equity sales trader at Rosenblatt Securities. "People had become a little more accustomed to the lack of negative tariff headlines, and we've kind of been reminded that the tariff picture is still there."