S&P 500 Tumbles as US-China Trade Tensions Escalate | Closing Bell Analysis
April 10, 2025
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10:15Now PlayingS&P 500 Tumbles as US-China Trade Tensions Escalate | Closing Bell Analysis
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as posted by the channelEconomic angst enveloped every corner of Wall Street as US-China trade tensions escalate, sparking a slide in stocks, the dollar and oil, with liquidations in US assets pointing to disorder in the financial system.
A day after the biggest stock-buying wave in years, assets tied to the economic cycle are sinking again, with President Donald Trump’s mollifying message on trade talks providing little relief. Investors are rushing to game out how the effective freezing of Chinese trade will impact companies and growth. The S&P 500 fell 3.5%. The dollar saw its worst day since 2022. A solid US sale of 30-year Treasuries failed to ignite a rally, but signaled appetite for bonds.
Market euphoria flipped back to unease despite Trump’s signals that he’s close to a first deal on tariffs — without naming the country. Concern grew that an escalation of the trade war between the two biggest economies will bring lasting damage to global growth after the White House said US tariffs on China rose to 145%.
Just a day after financial markets cheered Trump’s decision to delay some of his tariff plans, the selloff in riskier corners of the market suggests growing skepticism that trade talks will be wrapped up in a timely manner, despite White House National Economic Council Director Kevin Hassett saying the US is “well advanced” in its discussions with economic partners.
The first signs of a slowdown in global trade are already emerging as companies around the world hit their own pause button on orders and he continues to escalate his trade war with China. If anything, Trump is extending the uncertainty that has already begun to drag on business and consumer sentiment.
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Scarlet Fu, Carol Massar and Tim Stenovec.
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