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US stocks closed sharply lower on Friday, amid a renewed tariff battle between Washington and Beijing as US President Trump said he will respond further to China’s retaliatory tariffs and ordered American companies to find alternatives to China. The Dow Jones tumbled 623 points, or 2.4% to 25,629; the S&P 500 slumped 76 points, or 2.6% to 2,847; and the Nasdaq slid 240 points, or 3% to 7,752. Since the beginning of August, the Dow Jones lost more than 4%. Historically, the Dow Jones Industrial Average reached an all time high of 27398.68 in July of 2019 and a record low of 28.48 in August of 1896. Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.