00:00It's Benzinga bringing Wall Street to Main Street.
00:02The S&P 500 briefly approached a record high on Friday before a Truth Social post from Trump
00:08erased $2 trillion in market value, according to CNBC. The index plunged 2.7% after Trump threatened
00:16a massive increase of tariffs on Chinese imports, its worst day since April's Liberation Day
00:22sell-off. The Nasdaq tumbled 3.56% and the Dow fell 879 points as chipmakers NVIDIA and AMD-led
00:31losses, sinking 5% and 8%, respectively. Trump's comments accused China of holding the world
00:39captive through its rare-earth monopoly, deepening fears of a renewed trade war ahead of his planned
00:44meeting with Xi Jinping at the Apex Summit. Late Friday, Trump doubled down, pledging 100% tariffs
00:51and export controls on critical software, which could further strain AI sector ties with
00:57China. For all things money, visit Benzinga.com.
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