Stocks across the globe closed lower Friday after President Donald Trump unveiled his plan for levying tariffs on trading partners, threatening to upend decades of international cooperation.

In mid-morning trading, the Dow was down 538.07 points to 43,592.91, representing a 1.22% decline. The S&P 500 fell 84.72 points to 6,254.67, down 1.34%, while the Nasdaq dropped 357.10 points to 20,765.

U .S. stocks tumbled in early trading on Friday, just hours after President Donald Trump signed an executive order slapping new tariffs on dozens of countries. A weak jobs report worsened investor jitters, revealing a slowdown of hiring over recent months as Trump's previous tariffs took hold.