UK House Prices Fall for First Time Since 2023 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Asian Stocks Mixed as Korean Chipmakers Rally 
China to Inject $45 Billion Into State Financial Institutions 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Yen Rebounds as BOJ Rate Hike Bets Rise 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Uranium Prices Could Top $100 as Nuclear Demand Grows 
Gold Holds Near $4,400 as Fed Hike Bets Rise 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
OPEC+ Expected to Hold October Oil Output Steady 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
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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.
