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Wall Street is worried about a trade war.The Dow dropped 420 points on Thursday after President Trump said his administration will impose tariffs on steel and aluminum imports. The Nasdaq and the S&P 500 declined 1.3% apiece.Trump's controversial tariff announcement caught investors off guard and immediately raised concerns about retaliation from China or other major U.S. trading partners."This is the first shot across the bow over a trade war," said Art Hogan, chief market strategist at B. Riley FBR. "And nobody wins a trade war."Trump said his administration would impose a 25% tariff on steel imports and a 10% tariff on aluminum. It was not immediately clear whether Trump would exempt some countries from the tariffs, as his national security advisers have urged him to do to avoid hurting U.S. allies.Corporate America has warned Trump that tariffs could backfire. Last month, the Business Roundtable warned of the risk of "foreign retaliation" that would "harm the U.S. economy."Investors will be looking to see how U.S. trading partners react to the tariffs.Beyond worries about retaliation, the tariff news drove concerns about rising costs for companies that rely heavily on aluminum and steel, like auto and plane makers. Imports make up about a third of the steel American businesses use every year, and more than 90% of aluminum used here. Shares of Boeing fell 3% General Motors dipped 4%, and Ford dropped 3%.Related: NY Fed chief: Tariffs risk 'trade war'If the tariffs result in higher prices on steel and aluminum, companies that rely on those products may pass on some of the costs to consumers. That raises the specter of creeping inflation."This clearly will [lead to] higher prices in the production chain, which is part of the inflation path," said Quincy Krosby, chief market strategist at Prudential Financial.The timing of the tariff news surprised Wall Street. A formal announcement was expected at some point Thursday, but then it was called off. Later, Trump mentioned his tariff plans in a hastily arranged listening session with steel and aluminum executives. And he didn't provide crucial details, such as whether certain countries will be exempted.Concerns about trade come at an already shaky time on Wall Street. The S&P 500 and Dow fell about 4% in February, their worst month in two years. Fears about inflation and soaring bond yields caused a surge in volatility, including two 1,000-point plunges for the Dow.The market had come back as investors focused on the strong economy and booming corporate profits. But stocks fell sharply again on Tuesday and Wednesday, putting the Dow is back in negative territory for the year.Turbulence has picked up as well. The VIX volatility index spiked 15% on Thursday. Selling pressure will climb as volatility increases, Krosby said.At least two corners of the stock market cheered Trump's tariff announcement. U.S. Steel and AK Steel soared 6% and 10%, respectively.Century Aluminum also spiked 7%. Another major aluminum maker, Alcoa, gained 1%.Trump's tariff moves could force investors to confront another trade issue: NAFTA. Trump has repeatedly threatened to tear up this major trade deal with Canada and Mexico. Talks to renegotiate NAFTA, a major piece of the U.S. economy, have so far failed to produce a solution."It sets off the protectionist fears that had been lying dormant," said Hogan.— CNN's Jeremy Diamond contributed to this report.The-CNN-Wire? & ? 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved. 3547

VISTA (CNS) - An Oceanside man convicted of abusing his neighbors' dogs, including gouging out the eye of a Siberian Husky, was sentenced to nearly 10 years in custody Friday.Jurors last summer found 37-year-old David C. Herbert guilty of six counts of animal cruelty, one count of burglary and four misdemeanor counts of vandalism for harming two separate families' dogs, one of which remains missing.Herbert was handed an 8-year, 8-month prison term in a Vista courtroom Friday morning, to be served along with a one-year jail term on the misdemeanor counts.RELATED COVERAGE: Navy veteran accused of torturing dogs ordered to stand trialMan arrested for assaulting huskies, stealing Oceanside dogsSearch warrant served in Oceanside dog torture caseStalker targets and tortures Oceanside dogs, neighbors sayAuthorities said Herbert targeted a family living next door to him in north Oceanside, burning their two huskies, Cocayo and Estrella, with caustic chemicals and repeatedly slashing the tires on the family's vehicles in 2017.The family moved out of their rental home after discovering that someone had broken in and gouged Estrella's eye out.About one month later, a new family with two dogs moved in, and within two days their 9-year-old Golden Retriever Lala disappeared. The dog has never been found and is presumed dead.Police found a small amount of blood in Herbert's car and on a baseball bat he owned.Herbert, who represented himself at trial, testified that Lala jumped in his car and he was about to take her to a shelter when she jumped out and ran off. 1580

WASHINGTON (AP) — Navy officials said Wednesday they are pulling achievement medals from prosecutors who argued the case against a decorated Navy SEAL who was acquitted in the death of a wounded Islamic State captive after President Donald Trump intervened.Trump tweeted earlier Wednesday that he had directed the secretary of the Navy and the chief of naval operations to "immediately withdraw and rescind" the Navy Achievement Medal from prosecutors who argued the case against Special Operations Chief Edward Gallagher, who was acquitted by military jurors earlier this month."The Prosecutors who lost the case against SEAL Eddie Gallagher (who I released from solitary confinement so he could fight his case properly), were ridiculously given a Navy Achievement Medal," Trump complained, adding, "I am very happy for Eddie Gallagher and his family!"Navy spokesman Cdr. Jereal Dorsey said that on Wednesday, after Trump's tweet, Navy Secretary Richard Spencer rescinded the awards. As secretary, he has that authority, Dorsey said. 1042

WASHINGTON — The Trump campaign says it has filed lawsuits Wednesday in Georgia, Pennsylvania and Michigan, and will ask for a recount in Wisconsin.Democratic challenger Joe Biden is projected to win Wisconsin with a roughly 20,000 vote lead. No presidential race winner has been projected for either Pennsylvania, Michigan or Georgia at this time.The lawsuits in Michigan and Pennsylvania both demand better access for campaign observers to locations where ballots are being processed and counted, the campaign says.“In Philadelphia and elsewhere, Democrat officials forced our observers to stay 25 feet or more from the counting process, leaving no meaningful way whatsoever for our observers to do their jobs,” the statement from Justin Clark, Trump’s deputy campaign manager, reads.At a press conference Wednesday afternoon, Trump's personal attorney, Rudy Giuliani, elaborated on the campaign's legal action in Pennsylvania. "Not a single Republican has been able to observe these (absentee) ballots,” Giuliani said, adding speculatively, "Joe Biden could have been able to vote 5,000 times, we don’t know."With about 84 percent of the ballots counted in Pennsylvania, Trump leads Biden by almost 300,000 votes.The Trump campaign said Wednesday they are also seeking to intervene in a state case at the Supreme Court that deals with whether ballots received up to three days after the election can be counted, deputy campaign manager Justin Clark says.In the Michigan suit, election officials are asked to stop absent voter counting boards from counting because they are allegedly not complying with a state statute that 1 election inspector from each major political party be present during counting, according to the lawsuit.It also asks that observers be allowed to view surveillance video of ballot boxes that were in "remote and unattended" locations.In response to news of the lawsuit, demonstrators went to a building in downtown Detroit trying to get inside to challenge votes being counted. Hundreds of challengers are already inside the TCF Center, according to WXYZ in Detroit, and those outside are not being let in. The Detroit Health Department says the building is at capacity, and police are enforcing those capacity rules. Giuliani hinted the Trump campaign may bring a larger lawsuit about issues with observing ballot counting. "We're going to consider a federal lawsuit. Quite possibly we'll do a national lawsuit and reveal the corruption of the Democratic party," he said. Trump tweeted Wednesday afternoon, without supporting data, that he claimed victory in Pennsylvania, Georgia and other states. He also made unsubstantiated claims about "secretly dumped ballots."Michigan Attorney General Dana Nessel's office released a statement asserting the state's elections were "conducted transparently, with access provided for both political parties and the public, and using a robust system of checks and balances to ensure that all ballots are counted fairly and accurately."In Wisconsin, candidates are allowed to ask for a recount if the margin is less than 1 percent. The current margin is roughly .6 percent.The Trump campaign said they would seek a recount. No word on when that will begin.In Georgia, as of Wednesday night, Trump had a slight lead over Biden by 33,000 votes. There are roughly 100,000 votes left to count. The Biden campaign released a statement responding to the lawsuits:"When Donald Trump won Wisconsin in 2016 by roughly the same amount of votes that Joe Biden just did, or won Michigan with fewer votes than Joe Biden is winning it now, he bragged about a 'landslide,' and called recount efforts 'sad.' What makes these charades especially pathetic is that while Trump is demanding recounts in places he has already lost, he's simultaneously engaged in fruitless attempts to halt the counting of votes in other states in which he's on the road to defeat. This is not the behavior of a winning campaign. Plain and simple, Donald Trump has lost Wisconsin, he is losing Michigan, and he is losing the presidency. Put another way, 'It is what it is,” Biden campaign spokesperson Andrew Bates said. 4156

VISTA (CNS) — A man who beat his mother to death with a claw hammer in their Escondido apartment last year was sentenced Wednesday to 26 years to life in state prison.David Noel McGee Jr., 26, was convicted in May of first-degree murder for killing 55-year-old Rebecca "Becky" Apodaca.Deputy District Attorney Keith Watanabe said Apodaca failed to log in for her at-home medical billing job on Feb. 1, 2017, and failed to respond to messages left by her supervisor, family and friends. Apodaca's adult daughter went by the victim's apartment on North Hickory Street about 6:30 p.m. and found her mother unconscious on her blood-soaked bed.RELATED: Son accused of killing mom with claw hammerThe defendant -- naked and covered in blood -- was found hiding in a closet. He had self-inflicted knife wounds on his wrists and forearms and a self-inflicted knife wound across his neck, Watanabe said. A bloody toaster was plugged in and was sitting on the bathroom sink and an empty bottle of Benadryl was found in the bathroom.Levels of an over-the-counter antihistamine found in Benadryl were so high in the defendant's blood that he could have ingested 100 or more 25mg pills, the prosecutor said.Deputy Public Defender Lindsay Itzhaki said McGee's attack on his mother happened "in a fog of Benadryl," and that there was a difference between "killing and murder."RELATED: Man arrested, accused of killing mother in Escondido apartmentAfter his release from the hospital, McGee told police that he was depressed and blamed his mother for bringing him into the world. He claimed he heard a voice telling him to harm her, Watanabe said. 1649