Wall Street stocks fell early Friday as markets digested president Donald Trump鈥檚 latest tariff threats amid concerns about lofty equity valuations.
In a letter to Canadian prime minister Mark Carney, Trump warned of tariffs of 35 per cent on Canadian exports, the latest pivot in difficult negotiations between the neighbouring countries.
Trump also said his administration would send a letter to the European Union with details of new tariffs, complicating the trading bloc鈥檚 hopes that it would reach a deal with Washington.
About 25 minutes into trading, the Dow Jones Industrial Average was down 0.7 per cent at 44,341.02.
The broad-based S&P 500 fell 0.5 per cent to 6,248.28, while the tech-rich Nasdaq Composite Index declined 0.3 per cent to 20,571.20.
Major US indices are near all-time records, reflecting investor confidence that Trump鈥檚 tariff threats are a negotiating tactic. But analysts said some investors are taking profits following the equity market鈥檚 rally in recent weeks.