Overseas markets also slid Friday. In overnight trading in Asia, Tokyo's Nikkei 225 lost 2.8%, while South Korea's Kospi sank 0.9%. Markets in Shanghai, Taiwan, Hong Kong and Indonesia were closed for holidays, limiting the scope of Friday's sell-offs in Asia.

Stocks plunged on Thursday in response to President Donald Trump's "reciprocal tariffs." While the president had telegraphed his desire for punitive tariffs to try to balance the trade deficit the U.S.