U.S. stocks tumbled Friday as the “Trump bump” that Wall Street got from last week’s presidential election, along with a cut to interest rates by the Federal Reserve, kept fading. The S&P 500 dropped 1.

Bank of America cited three risks that could upend corporate earnings growth, a key driver of stock returns. One potential headwind is Trump's proposed tariff plan, BofA said. The firm is also keep a close eye on bond yields, which have soared since the election.

Canada's main stock index was down more than 100 points in late-morning trading, weighed down by losses in the technology sector, while U.S. stock markets also fell.