Stocks tumble on inflation fears as Trump policies continue to cause market volatility

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Major U.S. stock indices were all trading down on Friday, in what is seen a sign of market worries over inflation and volatile trade prospects under the Trump administration.

As of 1:45pm Eastern time, the Dow had fallen 1.69 percent, the S&P 500 had tumbled 1.97 percent, and the Nasdaq had plunged 2.72 percent.

The numbers put the market closer to some of its largest ever one-day drops, like the 975-point Dow plunge that came in April 2020 at the outset of the Covid pandemic.

This is a breaking news story and will be updated with new information.