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U.S. stocks skidded Thursday after the Trump administration said it is imposing tariffs on steel and aluminum imported from Europe, Canada and Mexico. Canada and Mexico responded with tariffs of their own and the European Union is expected to follow suit.

On Thursday:

The S&P 500 index slid 18.74 points, or 0.7 percent, to 2,705.27.

The Dow Jones industrial average gave up 251.94 points, or 1 percent, to 24,415.84.

The Nasdaq composite shed 20.34 points, or 0.3 percent, to 7,442.12.

The Russell 2000 index of smaller-company stocks sank 14.32 points, or 0.9 percent, to 1,633.67.

For the week:

The S&P 500 is down 16.06 points, or 0.6 percent.

The Dow is down 337.25 points, or 1.4 percent.

The Nasdaq is up 8.26 points, or 0.1 percent.

The Russell 2000 is up 6.74 points, or 0.4 percent.

For the year:

The S&P 500 is up 31.66 points, or 1.2 percent.

The Dow is down 303.38 points, or 1.2 percent.

The Nasdaq is up 538.73 points, or 7.8 percent.

The Russell 2000 is up 98.16 points, or 6.4 percent.