Want to know why the Dow Jones Industrial Average is doing what it's doing?
The Russell 2000 index of smaller-company stocks picked up 4.01 points, or 0.2 per cent, to 1,690.89.
The S&P 500 fell 0.7 percent to close at 2,833.28 as financials and materials lagged.
At the heart of the crisis was a slump in the Turkish lira, which worsened after President Donald Trump doubled tariffs on steel and aluminum imported from the country.
Markets in Europe were also turbulent with Germany's DAX falling two percent, French CAC 40 falling nearly two percent, and Britain's FTSE 100 declining 0.8 percent. The S&P technology index fell 0.8 per cent, with Intel down 2.6 per cent after Goldman Sachs downgraded the stock to "sell".
"It was a classic risk-off move", said Quincy Krosby, chief market strategist at Prudential Financial in New Jersey.
The biggest drag on the S&P 500 was Booking Holdings (BKNG.O), which fell 5 percent after it forecast third-quarter profit below expectations.
On the TSX 78 issues advanced and 162 declined as a 0.5-to-1 ratio favoured decliners. The DXY dollar index stood 0.5% higher Friday.
The Dow is up 790.01 points, or 3.2 per cent.
Major equity indexes in the US failed to determine a clear trend on Thursday as major sectors showed varying performances.
China's tit-for-tat response to the Trump administration's latest round of tariffs dragged down shares of trade-sensitive stocks such as Caterpillar and Boeing.
The Nasdaq added 27.09 points, or 0.3 per cent.
Declining issues outnumbered advancing ones on the NYSE by a 1.04-to-1 ratio; on Nasdaq, a 1.10-to-1 ratio favored advancers.
Leading sector declines was the S&P energy index.SPNY, which fell 0.9 percent. That compares with the 6.3 billion daily average for the past 20 trading days, according to Thomson Reuters data.