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Stocks tumble in Wall Street’s worst day since April after Trump threatens more tariffs on China
- On Friday, the S&P 500 sank 2.7%, its worst day since April, after President Donald Trump threatened a large tariff increase on Chinese imports on his social media platform.
- Upset over China's rare-earth export curbs, President Donald Trump wrote on Truth Social that other countries were "extremely angry" and said there seemed to be no reason to meet Xi Jinping.
- Four out of five S&P 500 stocks fell, with Levi Strauss plunging 5.4% despite strong profits and Dell Technologies sinking 5.2% amid big tech and artificial-intelligence sector losses.
- U.S. crude sank 4.2% to $58.90 and Brent crude dropped 3.9 to $62.66 as indexes across Europe and Asia fell.
- The Federal Reserve has penciled in several more rate cuts through next year, while the University of Michigan's preliminary survey found consumers' inflation expectations edged down to 4.3%.
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At the end of the day, Wall Street resented President Donald Trump's threat of a "massive increase" of tariffs on China. Oil and cryptocurrencies were also affected.This, at the end of a week, already volatile, where a shortage of economic data due to the closure of the US government has not allowed to assimilate the economic impact it will have.How does Wall Street close today?Trump's comments caused the S&P 500 to register a drop of 2.7 percen…
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Coverage Details
Total News Sources158
Leaning Left41Leaning Right12Center57Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 37%
C 52%
11%
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