Wall Street suffered steep losses Friday after US President Donald Trump signaled a sharp escalation in trade tensions with China, threatening to impose higher tariffs on Chinese imports. The S&P 500 fell 2.7% in its worst session since April, the Dow Jones Industrial Average dropped 878 points, or 1.9%, and the Nasdaq composite slid 3.6%. Stocks had been heading for a slight gain in the morning, until Trump posted on his social media platform that he was considering “a massive increase of tariffs” on Chinese imports. He is upset at China’s restrictions on exports of rare earths, materials critical for manufacturing everything from consumer electronics to jet engines. “We have been contacted by other Countries who are extremely angry at this great Trade hostility, which came out of

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