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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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Winston-Salem Journal
Winston-Salem JournalWall Street tumbles after tariff threat
NEW YORK — A monthslong calm on Wall Street shattered Friday and U.S. stocks tumbled after President Donald Trump threatened to crank tariffs much higher on China.
·Cherokee County, United States
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Total News Sources213
Leaning Left49Leaning Right16Center80Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 34%
C 55%
11%
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