U.S. stock exchanges took another significant drop Friday morning, one day after the largest sell off in the market in five years. The declines come two days after President Donald Trump announced global tariffs, taxing most imp orts entering the U.S. in an effort to reinvigorate the U.S. manufacturing industry. The Dow Jones Industrial Average and the S&P 500 declined by 2.5% at market open Friday. The Dow Jones opened about 1,000 points lower than the market closed on Thursday, marking the first time the market dipped below 40,000 since August 2024. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all continued falling into the afternoon on Friday. The Dow Jones Industrial Average was down over 1,600 points by Friday afternoon, as investors are apparently antsy about the impending tariffs. The drop came despite a relatively positive March jobs report, which showed the U.S. gained 228,000 jobs during the month, beating expectations. RELATED STORY | US adds 228,000 jobs in March, but report doesn't reflect cuts to governmentThe Dow Jones Industrial Average plunged by 3.98% at market close Thursday, while the S&P 500 and Nasdaq Composite indexes each saw losses of 4.84% and 5.97%, respectively.Numerous sectors experienced significant sell-offs, including tech companies like NVIDIA, Apple, and Microsoft, while other major corporations such as Dollar Tree, Nike, and Target also suffered. ...read more read less