(MENAFN)
U.S. Shares largely declined on Friday after China announced its countermeasures against U.S. tariffs.
The Dow Jones Industrial Average shed 2.37 percent to 25,628.90 points. The S&P 500 descended 2.59 percent setting at 2,847.11 points. The Nasdaq Composite Index decreased fell or 3 percent to 7,751.77 points.
The Customs Tariff Commission of the State Council announced on Friday that China it will force additional tariffs on U.S. imports of a value of around USD75 billion in response to the newly announced U.S. tariff hikes on Chinese goods.
According to laws and approved by the State Council, a total of 5,078 U.S. products will have additional tariffs of 10 percent or 5 percent.
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