US stocks close week lower amid tariff tension

​​​​​​​By Gokhan Ergocun

ISTANBUL (AA) - US stocks closed the week Friday with losses amid international tension related to President Donald Trump's tariff decisions.

While tariffs on the US' major trading partners will start Saturday, a negative course was observed in the stock market.

The White House confirmed that Trump will impose 25% tariffs on Canada and Mexico, and 10% on China, effective Feb. 1.

After the announcements, the US 10-year Treasury bond interest rate rose to 4.58% and later stabilized at 4.54%.

The VIX Index, also known as the “fear index," increased by 4% to exceed 17, due to concerns that the tariffs could start a new trade war.

Trump also announced late Friday that EU countries are implementing tariffs on the US and Washington will also begin to implement tariffs on the 27-member bloc.

The Dow Jones industrial average fell 0.75%, or 337.47 points, to end the day at 44,544.66.

The S&P 500 was off 0.5%, or 30.64 points, to 6,040.53, while the Nasdaq Composite dropped 0.28%, or 54.31 points, to 19,627.44.