President Donald Trump's tariff plan is getting a cold reception on Wall Street.
A CEO of a top six U.S. bank told CNBC that Trump's proposal is a "huge, huge mistake" and will have "global repercussions."
Trump said Thursday that the U.S. will impose tariffs of 25 percent for steel and 10 percent for aluminum as early as next week.
The move helped spark a 420-point drop in the Dow Jones industrial average Thursday, as shares of Boeing and General Motors and other manufacturers that use steel and aluminum fell. The Dow extended the decline on Friday, falling more than 300 points.