Ford sees $180 mln cost for ‘field service action’ to correct suspension issue on Explorer vehicles

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Dow ends more than 350 points lower after Trump threatens tariffs on Mexico

Stocks ended sharply lower Friday after President Donald Trump threatened to place escalating tariffs on Mexican imports. The move amplified worries over economic growth tied partly to the escalation of the U.S.-China trade battle, which previously contributed to a May selloff in stocks that saw major indexes post their first monthly decline of 2019. The Dow Jones Industrial Average fell around 355 points, or 1.4%, to end near 24,815 on Friday, according to preliminary figures, while the S&P 500 gave up around 37 points, or 1.3%, to end near 2,752. The Nasdaq Composite fell around 115 points, or 1.5%, to finish near 7,453. For the month, the S&P 500 fell 6.6% and the Dow dropped 6.7%, while the Nasdaq declined 7.9%. Shares of global automakers, which have substantial operations in Mexico, were under pressure Friday. In U.S. trade, shares of General Motors Co. fell 4.3%, while Ford Motor Co. shares declined 2.3%.

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