Wall Street shifted lower in early trading Wednesday as markets took in more corporate earnings reports while considering the impact of tariffs being imposed by the United States and China.

Stocks are set for their third straight day of declines as the potential for a global trade war continues to simmer.

U.S. stocks slumped as worries flared again on Wall Street about tariffs and inflation. The S&P 500 fell 0.9% Friday and wiped out what had been a modest gain for the week. The Dow Jones Industrial Average sank 1%,

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