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Stocks tumbled Friday as trade tensions between the United States and China heated up.The Dow closed down 572 points, a drop of 2.3%, after President Trump threatened to escalate a confrontation with China over trade. It fell as much as 767 points earlier in the day. The S&P 500 and the Nasdaq each declined more than 2%.Friday's losses wiped out gains for the week, and the Dow sank back into correction territory — 10% below its all-time closing high in January.Trump said late Thursday that he was considering tariffs on 0 billion more in Chinese exports, which would triple what the United States is already planning."The fear of a policy mistake on trade is increasing," said Art Hogan, chief market strategist at B. Riley FBR.All 30 companies on the Dow lost ground on Friday. Caterpillar, Boeing and Nike, giants with heavy exposure in China, were among the biggest losers in the index."The ratcheting up of trade tensions clearly carries risks. The tariff threats, even if only intended as bargaining tools, will be difficult to back down from if talks fail to deliver results," Capital Economics' Julian Evans-Pritchard wrote in a research note Friday.Anxiety returned to Wall Street after three days of gains. The VIX, a measure of market volatility, spiked 12%. CNNMoney's Fear and Greed index sank further into "extreme fear" territory.Wary investors had been holding out hope that the two sides will reach a deal before the proposed trade barriers go into effect.White House officials, including top economic adviser Larry Kudlow, have sought in recent days to soothe business leaders' fears of a trade war that would constrain economic growth.Earlier this week, the Trump administration announced plans for tariffs on billion worth of Chinese goods in retaliation for China's alleged theft of US intellectual property. Beijing fired back hours later by threatening tariffs on billion worth of US goods, including cars, planes and soybeans.The market had been interpreting Trump's proposed tariffs as negotiating tactics meant to extract concessions out of China rather than a rigid position. But Wall Street began to reassess that view as the administration sent conflicting signals throughout the day."We've gone from Larry Kudlow trying to calm the markets down to the administration saying, 'Hey, ignore the markets,'" Hogan said.In a radio interview Friday morning, Trump said, "I'm not saying there won't be a little pain, but the market has gone up 40%, 42%, so we might lose a little bit of it."Selling accelerated later in the day after Treasury Secretary Steve Mnuchin told CNBC, "There is the potential of a trade war."Investors had been operating under the assumption China and the United States were negotiating to avoid a trade conflict, but Mnuchin avoided questions about whether the two countries were actively talking."As no one came out to pull this back, there was a gradual realization that this was something that might be a little more serious," said Brad McMillan, chief investment officer for Commonwealth Financial Network.Analysts said the market also responded to comments from Federal Reserve Chair Jerome Powell.Powell said that the US economy was growing and a turbulent stock market would not change the Fed's course to gradually raise interest rates. The Fed is on track to raise rates three times this year, but it could speed up that process to cool down the economy."Markets are forced to confront the idea that rates are going up and the stock market is not going to derail that process," McMillan said.Stocks were mostly unaffected by the March jobs report, which showed that the US economy added 103,000 positions, down from a much bigger gain in February and well below what analysts were expecting.Wages grew 2.7% in March compared with a year earlier, in line with expectations. Investors were watching that number because it's a barometer of inflation. In February, an unexpected jump in wage growth set off inflation alarm bells and caused stocks to plunge.The combination of the hiring slowdowns and modest wage growth temporarily eased Wall Street's concerns that the economy was overheating.The yield on the 10-year US Treasury note, which has been steadily climbing as investors' inflation expectations rise, dipped to 2.78% after the jobs report."Investors breathed a sigh of relief," said Sam Stovall, chief investment strategist at CFRA Research. "Now we only have one issue to deal with, and that's trade."—CNNMoney's Paul R. La Monica contributed to this report.The-CNN-Wire 4564

The Better Business Bureau is warning the public about “synthetic” identity theft. The BBB says the technique involves scammers combining information from multiple individuals to invent a false identity. It’s said to be so hard to detect that you might be a victim and not even know it.Specifically, the BBB says scammers pull together stolen Social Security or Social Insurance numbers, the address of an abandoned property, and a fake name and birth date. Using that information, experts say scammers apply for a credit card. Initially, they will be declined since they don’t have a credit profile, but this creates a record of a “person” that doesn’t actually exist.Next, scammers add that “person” to one or more legitimate accounts and over time, the crooks build up a credit history until they can qualify for large lines of credit.Once approved for a high line of credit, the BBB says the scammers do what’s called a “bust-out,” meaning the con artists charge their credit cards to the limit, pays nothing, discards the identity and disappears.If your Social Security or Social Insurance number has been used in one of these schemes, it will be hard to detect. The BBB says negative credit reports will be tied to your SSN, but not your name, phone number, and address, meaning fraud alerts, credit monitoring, and credit freezes won’t stop the scammers or alert you to what is happening.“However, unpaid debts left by the scammer can affect your ability to take out loans or credit. Also, jilted creditors will eventually track the debts back to the Social Security number and, ultimately, its real owner,” wrote the BBB in a press release.The BBB offered these tips on how to protect yourself from “synthetic” identity theft:Minimize your exposure. Don’t give out your Social Security or Social Insurance number if it isn’t absolutely necessary. When a business, medical office, or individual asks for this information, don’t be afraid to ask them why they need it and how they will protect your personal information.Protect your child’s personal information. A child’s identity is appealing to scammers due to their clean, blank slate.Keep an eye on your communications. Monitor any mail, phone calls, email, or other communications you receive. Be alert if something arrives out of the blue or doesn’t make sense. If you receive any mail or phone calls regarding you or your child that seem like a red flag, follow up right away 2447

The armed resource officer for Marjory Stoneman Douglas High School who didn't enter the building where an active shooting was taking place said through his attorney that he thought the shots were coming from outside. But in dispatch audio of the incident, he said he had heard that it was "by, inside the 1200 building."The discrepancy was revealed in an updated timeline and dispatch audio of the Florida school shooting released Thursday by the Broward County Sheriff's office.  494

Surveillance video captured a woman red-handed, with her hand in a donation box at a 7 - Eleven in Melvindale, Michigan.However, she wasn’t putting in her two cents.  The images have some people outraged and giving the lady a piece of their minds. The video shows the woman standing at the counter. It appears when the coast was clear, she made her move.According to the video, she grabbed the donation box meant for the Dearborn Animal Shelter and people with Friends For Animals of Metro Detroit.The staff and volunteers help cats and dogs every step of the way. The donations are used for medical care, food, shelter and anything the animals need in order to help them get adopted.Now it’s gone. “There’s about 40 dollars in there coins and bills”, said 7-Eleven employee Michelle Roberson.“Robbing alone is disturbing, but from a charity that only helps people!,"  said David Wayman, who also works at the store. The shelter and the non-profit both need the support, said  Katie Johnson, Director of Operations with Friends of Animals of Metro Detroit.“We are a non-profit, we take in 2,500 animals a year and we rely on the generosity and support of wonderful donors," Johnson said. "We just put an appeal out there to say, whoever took it, please return it because it will really help us save a little furry life." If you would like to help them recoup some of the money that was lost when the donation box was stolen, you can make a donation at www.metrodetroitanimals.org. 1603

Sumner Redstone, who built a media empire from his family’s drive-in movie chain, has died. He was 97. Redstone built his operations through aggressive acquisitions, but many headlines with his name focused on his severing ties with wives, actors and executives. In multiple interviews, he said he’d never die.His tight-fisted grip on the National Amusements theater chain, which controls both CBS Corp. and Viacom Inc. through voting stock, has been passed down to his daughter Shari Redstone, who battled top executives to re-merge the two entities that split in 2006. 578