U.S. stocks slumped on Friday, with the S&P on track for its biggest daily percentage decline in more than three months as new U.S. tariffs on dozens of trading partners and a surprisingly weak jobs report spurred selling pressure.

U .S. stocks tumbled in early trading on Friday, just hours after President Donald Trump signed an executive order slapping new tariffs on dozens of countries. A weak jobs report worsened investor jitters, revealing a slowdown of hiring over recent months as Trump's previous tariffs took hold.

Even the most fleshed-out trade pacts are light on details, and in some cases there are different interpretations of what was agreed upon.

President Donald Trump signed an executive order Thursday placing tariffs on many U.S. trade partners — the next step in his trade agenda that will test the global economy and alliances