US stocks were battered by a sell-off Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war.

The Dow plunged by 1,950 points Friday afternoon, or 4.82%, pulling back slightly after being down more than 2,000 points. The broader S&P 500 was 5.4% lower. The tech-heavy Nasdaq Composite was 5.36% lower and on track to close in a bear market — down more than 20% from its record high in December.

  • turtle [he/him]@lemm.eeEnglish
    3·
    16 hours ago

    America’s right has been pretty relentlessly trying to get people out of pensions and into 401Ks for decades

    Not just pensions. They’ve also been trying to get rid of Social Security in favor of private retirement accounts invested in the stock market for decades now.