Stocks slipped Friday as traders weighed the latest developments on the tariff front and tried to end a week of wild market swings on a high note.

The Dow Jones Industrial Average traded 104 points lower, or 0.3%. The S&P 500 shed 0.3%, and the Nasdaq Composite pulled back by 0.2%. Nvidia and Broadcom up 1% while Apple and Meta fell 1%

This week has been one of the most volatile periods on record for Wall Street. The major averages tumbled Thursday as traders went into risk-off mode, with trade policy uncertainty weighing on sentiment, losing a chunk of the historic gains seen on Wednesday after Trump announced a 90-day reprieve on some of his high “reciprocal” tariffs.

The S&P 500 fell 3.46% on Thursday, while the 30-stock Dow tumbled 1,014.79 points, or 2.5%. The tech-heavy Nasdaq Composite ended the day lower by 4.31%. On Wednesday, the S&P 500 rallied 9.52% for its third-largest gain in a single day since World War II, while the 30-stock Dow skyrocketed more than 2,900 points.

The CBOE Volatility Index, known as the Vix, earlier in the week spiked above 50 before last hovering near 44.

The Trump Administration has opted for a universal tariff rate of 10% — except for China. Goods from Beijing will see a rate of 145%, a White House official confirmed to CNBC on Thursday.

China on Friday retaliated by raising its levies on U.S. products to 125% from 84%. “Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy,” the Chinese finance ministry said in a statement, according to a CNBC translation.

Stock futures initially dropped on China’s move. However, they recovered after the European Union said its trade representative was flying to Washington on Sunday to “try and sign deals.”

The “lower tariff level is still a huge problem, and deadlines three months out offer no certainty for consumers, business, and investors,” said Jed Ellerbroek, portfolio manager at Argent Capital Management. “This set of policies will leave the U.S. with higher inflation, lower economic growth, and a frustrated stock market.”

Here are the U.S. tariffs currently in place:

• 145% duty on all goods from China

• 25% tariffs targeting aluminum, autos and goods from Canada and Mexico not under the United States-Mexico-Canada Agreement

• 10% levy on all other imports

Despite the tumultuous week, the three major averages are on pace for solid gains in the period. The S&P 500 is on pace for a 3.8% advance, its best weekly performance since November. The Nasdaq is on track to gain 5.1%. The Dow is on pace for a 3.3% jump week to date.

To be sure, the major averages remain sharply lower since April 2, when the White House announced so-called reciprocal tariffs on goods from other countries. Since then, the S&P 500 is down 7.1%.