Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
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.
