Wall Street's main indexes sank to one-month lows on Friday after a sharp escalation in US-China trade tensions and tepid job growth in July reinforced fears of a global economic slowdown.
The Labor Department said nonfarm payrolls increased by 164,000 jobs last month and the economy created 41,000 fewer jobs in May and June than previously reported. However, July's numbers were in line with economists' expectations.
The jobs report comes a day after President Donald Trump threatened to slap a 10% tariff on $300 billion of Chinese imports from next month, sending global markets tumbling overnight and investors fleeing to safe-haven US Treasuries and the Japanese yen.
China on Friday said it would not be blackmailed and warned of retaliation.
Technology companies, which get a sizeable portion of their revenue from...