US stocks fell on Friday as investors reacted to the threat of more possible tariffs from the Trump administration while digesting a jump in consumer expectations for inflation and an overshadowed monthly jobs report.

US and European shares fell Friday, with a cooler US jobs report and higher inflation expectations capping the end of a volatile week marked by concerns over a trade war.

U.S. stocks slumped Friday amid worries about higher inflation and tariffs, while a closely watched report gave a mixed picture of the U.S. job market. The S&P 500 was down almost 1%, and the Dow Jones Industrial Average fell more than 400 points,

The Dow was on pace for a 0.4% weekly gain, while the S&P 500 was up 0.5% so far and the Nasdaq Composite was 0.7% higher through Thursday, according to FactSet. The blame for the Dow being down so much, while the S&P 500 and Nasdaq are rising, can be put on two stocks, those of Honeywell and Salesforce.

U.S. stock indexes are holding relatively steady following a mixed report on the job market that analysts said may not change much for financial markets. The S&P 500 was up 0.2% in early trading Friday and remained on track for a modest gain for the week.

U.S. equity futures edged lower in early Friday trading, while Treasury yields and the dollar held steady, as investors braced for a critical January jobs report that could define market direction over the coming weeks.