April 4 (Reuters) - The Dow fell 10% from its record closing high in December, putting it on track to confirm a correction on Friday, after China retaliated with fresh tariffs a day after the Trump administration announced sweeping levies on trade partners.

A rout in global stocks continued as Beijing said it would slap additional tariffs of 34% on all U.S. goods, exacerbating worries that a trade war could stoke inflation, dent demand and tip the global economy into a recession.

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President Donald Trump imposed a 10% tariff on most goods imported into the U.S. earlier in the week and much higher levies on dozens of rivals, especially China.

The Dow Jones Industrial Average (.DJI) , opens new tab has dropped more than 10% to 39,548.12 points from its record closing high of 45,014.04 on December 4.

If the blue-chip index closes 10% or more below this level, it would be the final one among Wall Street's main indexes to confirm a technical correction based on a widely used definition.

The benchmark S&P 500 (.SPX) , opens new tab and the tech-heavy Nasdaq (.IXIC) , opens new tab confirmed they were in correction territory in March.

At 09:30 a.m. ET the Dow Jones Industrial Average (.DJI) , opens new tab fell 971.56 points, or 2.40%, to 39,574.37, the S&P 500 (.SPX) , opens new tab lost 130.30 points, or 2.44%, to 5,266.22 and the Nasdaq Composite (.IXIC) , opens new tab lost 488.85 points, or 2.95%, to 16,061.76.

https://www.reuters.com/markets/us/dow-correction-path-china-strikes-back-against-us-tariffs-2025-04-04/