Dow drops 150 points after report says Trump to back $200 billion in Chinese tariffs

Stocks were on track to snap a four-day winning streak Thursday after a report said President Donald Trump would support slapping additional tariffs on Chinese imports. Wall Street also looked ahead to a U.S.-Canada trade deal deadline set for Friday.

The Dow Jones Industrial Average dropped 150 points while the S&P 500 fell 0.5 percent. The Nasdaq Composite declined 0.3 percent after reaching a record high.