IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Wall Street ended sharply lower on Friday after U.S. President Donald Trump intensified his trade conflict with China, announcing a sweeping 100% tariff on Chinese imports and new export controls on critical U.S.-made software. The move followed Beijing’s tighter restrictions on rare earth exports, sparking renewed fears of a full-blown trade war between the world’s two largest economies.
The announcement sent Big Tech stocks tumbling, with Nvidia, Tesla, Amazon, and AMD all dropping more than 2% in after-hours trading. During regular trading, the S&P 500 and Nasdaq suffered their biggest one-day percentage losses since April 10, while the Dow Jones Industrial Average fell 878.82 points, or 1.90%, to 45,479.60. The S&P 500 plunged 2.71% to 6,552.51, and the Nasdaq Composite lost 3.56% to 22,204.43. The Philadelphia Semiconductor Index slumped 6.3%, deepening losses in chip stocks.
Analysts say Trump’s surprise announcement amplified investor anxiety. “The two largest economies are arguing again, and markets are reacting with a sell-first, ask-later mentality,” said Carson Group strategist Ryan Detrick. The CBOE Volatility Index hit its highest closing level since June, signaling mounting investor fear.
Chinese tech giants Alibaba, JD.com, and PDD Holdings slid between 5.3% and 8.5%. Meanwhile, Qualcomm dropped 7.3% after reports of a Chinese antitrust probe into its acquisition of Israel’s Autotalks.
The escalating tensions come as the U.S. government remains in its 10th day of shutdown, delaying official economic data releases. Independent surveys, like the University of Michigan’s consumer sentiment index, show confidence hovering near historic lows amid high prices and job market concerns.
Looking ahead, investors await earnings from major U.S. banks including JPMorgan, Goldman Sachs, Citigroup, and Wells Fargo, with analysts forecasting 8.8% year-over-year S&P 500 earnings growth in Q3.
Friday’s rout underscores rising uncertainty as trade, tech, and policy risks collide, leaving markets braced for continued volatility this October.
