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Here's your closing bell brief for Friday, July 11th. I'm Danny Lewis for the Wall Street Journal.

President Trump's latest tariff threats knocked stocks off their record levels.

The Dow Jones Industrial Average lost 279 points to close at 44,372. The S&P slid 21 points, and the NASDAQ fell 45 points.

Wall Street has largely shrugged off Trump's recent trade threats,

with shares climbing, even as countries around the world receive notices of new tariff rates.

But his latest put a stop to stock's winning streak.

The S&P 500 and the NASDAQ both finished down less than half a percent on a weekly basis after closing at all-time highs on Thursday, while the Dow fell 1%.

Late Thursday, Trump said the U.S. would raise levies on some Canadian goods from 25 to 35 percent starting next month.

Canadian Prime Minister Mark Carney said his country would try to get a trade deal with the U.S.

by August 1st.

In individual companies trading today, shares of Kraft Heinz turned higher after the journal

exclusively reported that the packaged foods giant is preparing to break itself up.

A Kraft Heinz spokesperson said the company has been evaluating potential strategic transactions.

Shares rose 2.5%.

Genezmaker Levi Strauss said it boosted its annual outlook after strong results for the first half of the year.

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