Trump signed an executive order tasking staff to pinpoint countries and goods responsible for America's nearly $50 billion a month trade deficit. Analysts said only time would tell if the tough rhetoric is followed by meaningful policies, but it already has sparked worries of a global trade war. The Dow Jones Industrial Average dropped 0.3 percent to close the month at 20,663.22. The broad-based S&P 500 shed 0.2 percent to end at 2,362.71, while the tech-rich Nasdaq Composite Index slipped less than 0.1 percent to 5,911.74. All three major indices finished the first quarter of the year with solid gains, with the Nasdaq climbing the most at about 10 percent. Jack Ablin, chief investment officer at BMO Private Bank, said investors frequently engage in "window dressing" at the end of a quarter, selling off stocks that have not performed well and boosting holdings that have outperformed. That could explain the Nasdaq's relative strength Friday. Ablin said investors are fairly upbeat about stocks in light of strong US data, including reports in recent days on inflation, growth and consumer confidence. That has allowed them to shrug off disappointing progress on Trump's economic agenda, which had sparked records earlier in the quarter. "Investors are looking past any near-term setbacks on policy and looking at underlying economic growth," Ablin said. FMC surged 13.2 percent after announcing it would acquire some of DuPont's pesticide business in exchange for FMC's health and nutrition segment as a step towards clearing regulatory hurdles to DuPont's merger with Dow Chemical. DuPont fell 1.6 percent and Dow lost 1.0 percent. Others to decline included ExxonMobil, which lost 2.0 percent and Expedia, which shed 2.5 percent, while Amazon rose 1.2 percent.