US stocks fell on Friday as investors reacted to the possible threat of more tariffs while digesting a jump in consumer expectations for inflation, and the monthly jobs report. The markets took a leg lower after a report from Reuters said President Trump told Republican lawmakers that he plans to announce reciprocal tariffs on American imports as early as Friday.

U.S. stocks are falling Friday after a discouraging report suggested U.S. consumers are bracing for much higher inflation, while a separate update gave a mixed picture of the U.S. job market. The S&P 500 was 0.

Over the weekend, President Donald Trump said the U.S. will levy 25% tariffs on Mexico and Canada and 10% tariffs on China. Stock market losses ranged from 1.4% to 2.5% in early trading Monday.

University of Michigan consumer survey Friday found consumer sentiment fell about 5% on fears inflation will rise to 4.3% under Trump administration tariffs with major U.S. trading partners.

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U.S. stock indexes are drifting lower on Friday after a discouraging report suggested U.S. consumers are bracing for higher inflation over the next year. The S&P 500 was 0.3% lower in morning trading,