Stocks Stage Late Rally to Close Up; Dollar Rises: Markets Wrap

The S&P 500 and Dow finished just in the green after slumping midday, when Bloomberg News reported that President Donald Trump instructed aides to proceed with tariffs on about $200 billion more in Chinese products. Financial markets were whipsawed this week by conflicting reports on the status of trade relations between the world’s two largest economies. “When the headlines hit, the knee-jerk reaction in the market is to either sell off or gain immediately,” Quincy Krosby, chief market strategist at Prudential Financial Inc, said by phone.