The Dow, S&P 500 and Nasdaq retreat from record highs as President Trump rolled out a fresh tariff against Canada, following Brazil hit. Meanwhile, the Federal Reserve and Chairman Powell are under fire for spending on renovations.

The dollar edged up across the board on Friday as U.S. President Donald Trump's ramped-up tariffs on Canada and other trading partners sparked a flight to safety.Trump issued a letter late on Thursday that said a 35% tariff rate on all imports from Canada would apply from August 1.

Worries about U.S. tariffs may well have triggered the moves. Cryptos tend to move in tandem with tech stocks, and the Nasdaq 100 index closed 0.8% lower Monday after President Donald Trump posted several letters to world leaders threatening 25% to 40% levies from Aug. 1 if they don’t make a deal in the meantime.