(CNBC) Stocks plunged on Friday after President Donald Trump ordered in a series of tweets that U.S. manufacturers find alternatives to their operations in China. Apple led the way lower.
The Dow Jones Industrial Average traded 600 points lower, or 2.3%. The S&P 500 and Nasdaq Composite slid 2.5% and 2.9%, respectively. The losses brought the Dow’s decline for August to more than 4%.
Trump tweeted on Friday: “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..your companies HOME and making your products in the USA.” However, it is not clear how much authority the president has on this front.
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