U .S. stocks closed markedly lower on Friday, a day after President Donald Trump signed an executive order slapping new tariffs on dozens of countries. A weak jobs report worsened investor jitters, revealing a slowdown of hiring over recent months as Trump's previous tariffs took hold.

Forcing already cautious consumers to deal with higher prices as the job market weakens is a dangerous economic mix.

An anemic July jobs report boosted expectations the Federal Reserve might lower interest rates in September. Trump said the jobs report was "rigged."