U.S. stocks plunge as Trump tariff fears spread among businesses, consumers – National [Video]

U.S. stocks fell sharply Friday after reports showed that worries among consumers and businesses about President Donald Trump’s policies may be hitting the U.S. economy.

The S&P 500 sank 1.7% for its worst day in two months. The Dow Jones Industrial Average dropped 748 points, or 1.7%, and the Nasdaq composite tumbled 2.2%.

The losses accelerated through the day following several weaker-than-expected reports on the economy. One suggested U.S. business activity is close to stalling, with growth slowing to a 17-month low. The preliminary report from S&P Global said activity unexpectedly shrank for U.S. services businesses, and many in the survey reported slumping optimism because of worries about Washington.

“Companies report widespread concerns about the impact of federal government policies, ranging from spending cuts to tariffs and geopolitical developments,” said Chris Williamson, chief business economist at S&P Global Market Intelligence. “Sales are reportedly being hit by the uncertainty caused by the changing political landscape, and prices are rising …