At lower levels closed the shares her Wall Streetafter a rapid fall on Friday (10.10.2025), following the threat of US President Donald Trump to increase duties in China, in which he accused the country of “becoming very hostile” with its restrictions on rare land metals, a basic resource.
Specifically, Wall Street shares accelerated their sales to the closure, with Dow Jones Industrial Average closing 878.82 points, or 1.9%, to 45.479.60 points. The S&P 500 lost 2.71% and closed at 6,552.51, while Nasdaq Composite fell 3.56% to 22,204.43. The fall of the wide index was the largest of April 10.
Before Trump’s statements, the shares were significantly higher, with Nasdaq marking a new historical high in the day.
“I had to meet President Xi in two weeks in APEC, South Korea, but now there seems to be no reason to do so,” Trump said in a post on Truth Social. “One of the policies we are currently considering is the massive increase in tariffs on Chinese products entering the United States of America.”
Trump accused China of keeping the world “prisoner” using her resources in rare earth metals. Earlier this week, China reinforced market control, demanding foreign companies to obtain permission from Beijing to export anything that contains rare land worth 0.1% or more of the value of goods.
“Expectations for a trade agreement with China have just disappeared,” said Jeff Kilburg, founder of KKM Financial, adding: “Campers have come out with all their might.”