Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
Trump and Iran Sign Framework Peace Deal in France Amid Ongoing Middle East Tensions 
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.
