From Investor's Business Daily via MSN, October 12:
Dow Jones futures will open Sunday evening, along with futures for the S&P 500 and Nasdaq, as investors react to a flurry of U.S.- China news. Late Friday President Donald Trump moved to impose an extra 100% tariff on China, but on Sunday that "it will all be fine."
The stock market sold off Friday as Trump threatened tariffs over China's rare-earth curbs, with the Dow Jones undercutting its 50-day line. Many stocks with AI or China exposure tumbled. Some pulled back from buy points but held up reasonably well, such as OracleORCL.Dow Jones futures will open Sunday evening, along with futures for the S&P 500 and Nasdaq, as investors react to a flurry of U.S.- China news. Late Friday President Donald Trump moved to impose an extra 100% tariff on China, but on Sunday that "it will all be fine."
The stock market sold off Friday as Trump threatened tariffs over China's rare-earth curbs, with the Dow Jones undercutting its 50-day line. Many stocks with AI or China exposure tumbled. Some pulled back from buy points but held up reasonably well, such as OracleORCL......... Trump Says 'All Will Be Fine' After 100% China TariffPresident Trump announced Friday evening on Truth Social that he would impose a 100% extra tariff on Chinese goods, above and beyond current tariffs, effective Nov. 1. He also said he will impose export controls on "any and all critical software."
Trump later Friday said he hasn't cancelled a meeting with President Xi at the APEC meeting, which runs Oct. 31-Nov. 1. "I don't know that we're going to have it, but I'm going to be there regardless, so I would assume we might have it."
On Friday morning, President Trump said he was considering "massive" tariffs, saying Beijing was holding the world "captive" with its rare earth restrictions. On Thursday, China imposed much-tighter export curbs on rare earths as well as battery components. That affects EVs , chips and many other industries, as well as military uses.
Early Sunday, China's Commerce Ministry justified its moves as defensive reactions to recent U.S. actions to close loopholes to prevent Beijing from getting advanced chips. It warned the U.S. to stop threatening tariffs and said China was ready to take "corresponding measures."
On Sunday afternoon, Trump was more conciliatory, writing on Truth Social, "Don't worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn't want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!"....
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