Stocks lower as trade dispute escalates

U.S. stocks closed lower Thursday as investors gauged the latest U.S.-China tariffs, one day after the bull market run officially became the longest in history.

The U.S. kept its promise to add another round of tariffs on $16 billion worth of China imports on Thursday and China quickly countered and raised tariffs on the same amount of U.S. goods.

That makes it $50 billion worth of imports subjected to tariffs on either side since early July, and more are in the pipeline, adding to risks for global economic growth.

The tariffs took effect while U.S. and Chinese officials hold two days of talks in Washington.

Ticker Security Last Change Change %
I:DRI n.a. n.a. n.a. n.a.
SP500 S&P 500 5087.03 +105.23 +2.11%
I:COMP NASDAQ COMPOSITE INDEX 16041.621212 +460.75 +2.96%

Economic data released Thursday included weekly jobless claims, which dropped by 2,000 to a seasonally adjusted 210,000 in the week ended Aug. 18.

Commodities were mostly lower.

U.S. stocks closed mixed in a tight range Wednesday, as the market extended its bull run into record territory. The bull market turned 3,453 days old on Wednesday. Over the period, the S&P 500 rallied more than 320 percent, the Dow by nearly 300 percent and the Nasdaq Composite by more than 600 percent.

FOX Business' Leia Klingel contributed to this article.