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Fortune

Chris Morris

Dow tumbles more than 500 points as job numbers shock Wall Street and tariff 'panic' sets in

Donald Trump Jerome Powell US Federal Reserve the Labor Department

Trump pointing his finger (Credit: Chip Somodevilla—Getty Images)

Stocks fell in after a weak jobs report and the rollout of Trump’s new tariff rates. July’s figures fell short of expectations, and the Labor Department drastically reduced the number of new jobs for June and May. Trump, meanwhile, made last-minute changes to tariff rates ahead of his self-imposed deadline.

More last-minute modifications to tariff rates and a disappointing July jobs report weighed heavily on investors on Friday.

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