Stocks sank Friday amid growing tension between the U.S. and China over the COVID-19 pandemic and trade policy and a historic pl

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Stocks sank Friday amid growing tension between the U.S. and China over the COVID-19 pandemic and trade policy and a historic plunge in retail sales.

U.S. equity markets sank Friday as tensions grew between the U.S. and China and retail sales dropped the most in nearly 30 years. The Dow Jones Industrial Average fell 178 points, or 0.76 percent, in the opening minutes of trading while the S&P 500 and the Nasdaq Composite dropped 0.81 percent and 1.01 percent, respectively. Retail sales plunged by a record 16.4 percent in April, worse than the 12 percent drop that analysts surveyed by Refinitiv were expecting. The drop was the largest since the government began tracking the data in 1992.

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