{"id":128119,"title":"Markets Slide as US Treasury Secretary Hits Out at China","publisher":"Share Talk","author":"sharetalk","published":"2025-10-14T10:45:09+00:00","modified":"2025-10-14T10:45:47+00:00","canonical_url":"https://www.share-talk.com/markets-slide-as-us-treasury-secretary-hits-out-at-china/","markdown_url":"https://www.share-talk.com/markets-slide-as-us-treasury-secretary-hits-out-at-china.md","json_url":"https://www.share-talk.com/markets-slide-as-us-treasury-secretary-hits-out-at-china.json","category":"B2B","categories":["B2B","Blogs","Technology","Technology, Media & Telecoms"],"tags":["Beijing","china","chinese","Donald Trump","erbium","europium","holmium","Kathleen van Brempt","rare earth","thulium","ytterbium"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/03/china-7th-march.webp?fit=1200%2C800&quality=80&ssl=1","format":"news","language":"en-GB","content":"**Global Stocks Fall as US Treasury Secretary Blames China for Economic ‘Sabotage’**\n\nGlobal stock markets fell on Tuesday after the **US Treasury Secretary, Scott Bessent**, accused **China** of deliberately undermining the world economy, escalating tensions between the world’s two largest economies.\n\nIn Europe, the **DAX** in Frankfurt dropped **0.9%**, while the **CAC 40** in Paris slipped **0.7%**, erasing Monday’s brief rebound. The **FTSE 100** was down **0.1%** in London.\n\nBessent told the *Financial Times* that **China’s sweeping new controls on rare earth exports** were designed to hurt global growth. “This is a sign of how weak their economy is, and they want to pull everybody else down with them,” he said. “Maybe there is some Leninist business model where hurting your customers is a good idea – but they are the largest supplier to the world. If they want to slow down the global economy, they will be hurt the most.”\n\nAsian markets also tumbled, with the **Nikkei 225** in Tokyo plunging **2.6%** as traders returned from a holiday to renewed trade fears and **domestic political turmoil**.\n\nInvestors sought safety in precious metals, sending **gold to a new record high** and **silver to levels unseen since 1980**. The **London Bullion Market Association (LBMA)** said it was “actively monitoring” the tightness in the silver market.\n\nAssets have been whipsawed in recent days after **Donald Trump** threatened **100% tariffs** on Chinese goods in response to Beijing’s export restrictions. While Trump later struck a more conciliatory tone, both countries **introduced new port fees on shipping firms** this week, further straining trade ties.\n\nIn the UK, sentiment was also dampened by data showing **unemployment rising to a four-year high** and **wage growth slowing to 4.7%**, the weakest in three years. Adjusted for inflation, **real pay rose just £4 a week**."}