US stocks reversed earlier gains today after Donald Trump posted on TruthSocial, warning of escalating trade tensions with China. The former president claimed that Beijing had sent letters to countries around the world announcing plans to impose sweeping export controls on rare earth metals and other key raw materials — a move he described as “hostile” and aimed at “clogging the markets.” Trump added that the United States would be forced to respond with potential countermeasures, including a “massive increase of tariffs” on Chinese imports, signaling a possible return to a trade confrontation.
The post reignited fears of a renewed trade war, dampening investor sentiment across global markets. The US500 fell 0.80%, the US100 declined 1.10%, and the US2000 dropped 1.30%.
The U.S. dollar index (USDIDX) also weakened 0.50%.
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