{"id":128016,"title":"Wall Street on Track for Worst Day Since April After Trump’s Tariff Threat","publisher":"Share Talk","author":"sharetalk","published":"2025-10-10T19:49:30+00:00","modified":"2025-10-10T19:49:30+00:00","canonical_url":"https://www.share-talk.com/wall-street-on-track-for-worst-day-since-april-after-trumps-tariff-threat/","markdown_url":"https://www.share-talk.com/wall-street-on-track-for-worst-day-since-april-after-trumps-tariff-threat.md","json_url":"https://www.share-talk.com/wall-street-on-track-for-worst-day-since-april-after-trumps-tariff-threat.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Donald Trump","exports","Federal Reserve","Jamieson Greer","Jonathan Reynolds","Shutdown","steel industry","tariffs","UK","UK steel","US government","USA","Washington","White House"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/11/Donald-Trump-18-NOV.webp?fit=1200%2C800&quality=80&ssl=1","format":"news","language":"en-GB","content":"A months-long period of calm on **Wall Street** was upended on Friday as **US stocks tumbled** following **Donald Trump’s threat** to impose significantly higher tariffs on **Chinese imports**.\n\nThe **S&P 500** fell **2.1%**, the **Nasdaq Composite** dropped **2.9%**, and the **Dow Jones Industrial Average** declined **1.5%**, putting markets on course for their **worst session since April**.\n\nEarlier in the day, stocks had been edging higher until Trump posted on his **social media platform**, saying he was considering a **“massive increase of tariffs”** on Chinese goods.\n\nThe former president’s remarks came amid his frustration over **China’s new export restrictions on rare earth materials**, which are essential for manufacturing products ranging from **consumer electronics** to **jet engines**.\n\n### **Trump’s Tariff Threat on China Sends Dollar Lower as Trade Fears Resurface**\n\nThe **US dollar** slipped on Friday after **Donald Trump** threatened to sharply increase tariffs on **Chinese imports**, reigniting worries about how an escalating trade dispute could impact the **US economy** and global growth.\n\nThe remarks immediately boosted major currencies such as the **pound**, **euro**, and **yen** against the **greenback**, while **commodity-linked currencies** — including the **Australian dollar** — weakened on fears that renewed trade tensions could dent demand for raw materials.\n\n“Ultimately, it does create a lot of negativity for the US economy,” said **Juan Perez**, director of trading at **Monex USA** in Washington. “Is China really going to have to be very retaliatory moving forward in order to get the United States to negotiate better? So it creates a lot of doubt.”\n\nThe **dollar index** fell **0.4% to 98.99**, though it remains on track for a **weekly gain of 1.66%** — its strongest since **September 2024** — after the **yen** and **euro** weakened earlier in the week due to domestic fiscal concerns.\n\nMeanwhile, traders are closely watching for signs of when the **US government shutdown** might end and key **economic data releases** will resume, as this will help shape expectations for future **Federal Reserve policy**.\n\nThe **US Bureau of Labor Statistics** confirmed that **September’s consumer inflation report** will be published on **October 24**, allowing the **Social Security Administration** to determine the **2026 cost-of-living adjustment**.\n\nThe update follows recent comments from **Federal Reserve officials**, who have voiced concern over **persistent inflation risks**.\n\n“A lot of the easing that central banks either have done — or, in the case of the Fed, are considering — is being done with a very finely tuned sensitivity to inflation,” said **Eric Theoret**, FX strategist at **Scotiabank** in Toronto."}