Wall Street shrugs off tariff war

Wall Street has taken the China-US tariffs enacted on Friday in stride so far, but investors are on alert for a ramp-up in the trade conflict.

Stock investors had been bracing for weeks for Washington and Beijing to place the tariffs on $34 billion of each other’s goods, and share prices were occasionally hurt by escalations in rhetoric along the way, with certain sectors taking a bigger hit than others as traders avoided companies seen taking the heaviest blows.

Another round of sweeping tariffs could knock Wall Street off track. U.S. President Donald Trump on Thursday upped the ante on his country’s largest trading partner, warning the United States may ultimately target more than $500 billion worth of Chinese goods, roughly the total amount of US imports from China last year.