U.S. equity markets dropped Friday as China retaliated against the U.S. for the closing of its Houston consulate.

U.S. equity markets were weaker on Friday as China retaliated against the U.S. for the closing of its Houston consulate and President Trump readied executive orders on drug pricing. Â Â Â Â The Dow Jones Industrial Average fell 146Â points, or 0.55Â percent, while the S&P 500 and the Nasdaq Composite were lower by 0.64 percent and 1.53 percent, respectively. Beijing ordered the U.S. consulate in Chengdu to close a day after the U.S. said the Chinese consulate in Houston was used as a hub for spying. China-based companies traded in the U.S., including Alibaba, Baidu and Weibo, saw outsized losses.

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