U.S. stocks trade lower amid trade tensions, jobs data

NEW YORK, April 6 (Xinhua) -- U.S. stocks traded lower on Friday, as investors were digesting the latest trade tensions between China and the United States as well as the newly-released U.S. jobs data.

At midday, the Dow Jones Industrial Average lost 398.25 points, or 1.63 percent, to 24,106.97. The S&P 500 decreased 33.72 points, or 1.27 percent, to 2,629.12. The Nasdaq Composite Index was down 85.04 points, or 1.20 percent, to 6,991.51.

U.S. President Donald Trump on Thursday said he has asked the U.S. Trade Representative to consider slapping 100 billion U.S. dollars of additional tariffs on China, ratcheting up trade tensions and plunging economic growth into uncertainty.

China will fight "at any cost" and take "comprehensive countermeasures" if the United States continues its unilateral, protectionist practices, a spokesperson with the Chinese Ministry of Commerce said Friday.

The moves came after both sides unveiled a list of products worth 50 billion U.S. dollars imported from the other side that will be subject to higher tariffs earlier this week.

The weaker-than-expected jobs report also weighed on the market.

Total nonfarm payroll employment edged up by 103,000 in March, and the unemployment rate was unchanged at 4.1 percent, the U.S. Labor Department said on Friday. The latest reading was way below market consensus of an increase of 193,000 jobs. Enditem