Stock markets open with Dow down more than 1,000 points, after China's 34% tariff on US imports

U.S. stock markets opened Friday with a second consecutive round of losses with the Dow Jones Industrial Average dropping over 1,000 points. 

The losses follow President Trump on Wednesday announcing a slew of tariffs on U.S. trade partners, then China early Friday announcing a 34% tariff on U.S. imports.

The S&P 500 dropped 2.7% early Friday, following its worst day since 2020, during the COVID pandemic.

The Dow closed Thursday down more than 1,600 points. Stock markets worldwide are also down, amid the tariff.