Autos, Chipmakers, China Stocks Brace for Impact as Tariffs Loom

US stocks slipped on Friday afternoon to end the day in the red, with carmakers and Chinese companies leading the decline, as the White House said President Donald Trump intends to move ahead with plans on Saturday to impose 25% tariffs on Mexico and Canada and a 10% levy on China.

A UBS Group AG basket of stocks at risk from the proposed tariffs sank 3.7%, while the S&P 500 Index reversed a gain of as much as 0.8% to close down 0.5%. The Bloomberg Dollar Spot Index jumped to a session high on the news, while the Cboe VIX ...