Market volatility continues…Oil prices rise… Trump’s tariff proposal draws fire from Canada’s leader

NEW YORK (AP) — Investors are concerned about a possible trade war and a more aggressive Federal Reserve and as a result sent the stock market on another dizzying ride Friday. But stocks did manage to work their way back from an early-morning plunge. The S&P 500 gained 13 points, or 0.5 percent, to end the day 2,691. The Dow fell nearly 71 points or 0.3 percent, to 24,538 and the Nasdaq rose 77.31, or 1.1 percent, to 7,257.

NEW YORK (AP) — In the commodities futures markets Friday, benchmark U.S. crude oil rose 26 cents to settle at $61.25 per barrel in New York. At the same time, Brent crude, the international standard, rose 54 cents to $64.37 a barrel in London. Wholesale gasoline gained a penny to $1.90 per gallon, heating oil slipped a cent to $1.88 per gallon and natural gas was virtually flat at $2.70 per 1,000 cubic feet.

UNDATED (AP) — President Donald Trump’s plan to impose taxes on steel and aluminum imports is being branded as “absolutely unacceptable” by Canadian Prime Minister Justin Trudeau. When Trump said Thursday he was imposing a 25 percent tariff on steel and 10 percent tariff on aluminum on national security grounds, he set into motion the possibility that trading partners would fight back with tariffs of their own.

BEIJING (AP) — China is warning that President Donald Trump’s vow to impose high tariffs on steel and aluminum would have a “huge impact” on the global trading order and says Beijing would work with other nations to protect its interests. A Commerce Ministry official says Trump’s plan would “seriously damage multilateral trade mechanisms represented by the World Trade Organization and will surely have huge impact on normal international trade order.”

ATLANTA (AP) — Business consultants say companies looking to relocate in Georgia will not soon forget the revenge lawmakers took on Delta after the airline publicly distanced itself from the National Rifle Association. Jerry Funaro, a vice president for global marketing at a relocation management company, says he thinks it’s fair to say that the situation would not be helpful to the state of Georgia in potentially securing Amazon’s second headquarters site.

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