In mid-morning trading, the Dow was down 538.07 points to 43,592.91, representing a 1.22% decline. The S&P 500 fell 84.72 points to 6,254.67, down 1.34%, while the Nasdaq dropped 357.10 points to 20,765.

Stock futures moved sharply lower Friday morning as investors reacted to news that the U.S. plans to impose higher tariffs on dozens of countries.

Dow Jones futures fell sharply Friday morning, along with S&P 500 futures and Nasdaq futures. Amazon.comAMZN skidded on earnings and President Donald Trump setting tariffs on dozens of countries, including a higher duty on most Canadian goods.