Synopsis : Global markets went into a tailspin as President Donald Trump announced a 100% tariff on all Chinese goods and export controls on critical software, triggering fears of a renewed US-China trade war. Over $1.5 trillion in market value was erased from US stocks, marking one of Wall Street’s biggest single-day crashes in years.
Stock Market LIVE | Global Markets Crash – October 10, 2025:
Wall Street suffered a historic rout on Friday after US President Donald Trump announced a sweeping 100% tariff on Chinese goods along with export controls on critical software. The unexpected escalation in trade tensions sparked panic selling across equities, commodities, and cryptocurrencies.
According to reports, the move came after Beijing introduced new export restrictions on rare earth elements — vital components for electronics, EVs, and defense technologies. In response, Trump accused China of taking an “extraordinarily aggressive position on trade,” saying the US would retaliate strongly.
“The United States of America will impose a tariff of 100 percent on China… Also on November 1, we will impose export controls on all critical software,”
— President Donald Trump on Truth Social
Market Carnage: Trillions Lost
The shock announcement led to a massive sell-off on Wall Street.
Dow Jones: 45,479.60 (−878.82 pts, −1.9%)
S&P 500: 6,552.51 (−182.60 pts, −2.71%)
Nasdaq: 22,204.43 (−820.20 pts, −3.56%)
In total, over USD 1.5 trillion in US market capitalization was wiped out in a single session. The cryptocurrency market also saw record liquidations worth USD 19 billion, the largest one-day wipeout in history.
Trade Tensions Deepen
Trump’s tariff order is set to take effect on November 1, 2025, or earlier depending on China’s response. Meanwhile, China expanded its export control list to include five additional rare earth elements — holmium, erbium, thulium, europium, and ytterbium — bringing the total restricted elements to 12 of 17. Export licenses will now be required not only for these minerals but also for related mining and smelting technologies.
Analysts warn that the standoff could severely disrupt global supply chains, particularly in the electronics, EV, and defense sectors. A prolonged trade war could slow global economic growth and increase market volatility worldwide.
“These actions risk destabilizing the global technology ecosystem,” said a senior economist at Global Markets Watch. “Both nations stand to lose from this confrontation.”
What Lies Ahead
Investors are bracing for further volatility as markets assess the ripple effects of the new tariffs and export bans. Analysts expect central banks to remain on alert, with potential interventions to stabilize currency and commodity markets in the days ahead.
Disclaimer : This article is for informational purposes only and does not constitute investment or financial advice. Readers should seek professional guidance before making investment decisions.
