(Reuters) – Wall Street’s three main indexes lost about 1% on Friday after President Donald Trump said U.S. companies should “immediately start looking for an alternative to China” after Beijing officials earlier retaliated by imposing tariffs on U.S. goods.

At 11:07 a.m. ET, the Dow Jones Industrial Average .DJI was down 283.17 points, or 1.08%, at 25,969.07, the S&P 500 .SPX was down 34.24 points, or 1.17%, at 2,888.71. The Nasdaq Composite .IXIC was down 95.69 points, or 1.20%, at 7,895.70.

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