House Majority Leader Steve Scalise reacts to Chuck Schumer’s government shutdown comments, J.D. Vance’s viral post, and the government’s toll on families and workers.
Trade tensions between the U.S. and China erupted on Friday, sending U.S. stocks soaring, with all three major stock averages down more than 1% at midday, their worst trading pace since August.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| Me: DJI | Dow Jones Average | 45556.6 | -801.82 |
-1.73% |
| SP500 | S&P500 | 6571.25 | -163.86 |
-2.43% |
| I: Comp | Nasdaq Composite Index | 22286.008063 | -738.62 |
-3.21% |
Dow Jones Industrial Average It fell more than 700 points in afternoon trading. Still, all three major benchmarks remain near all-time highs.
Dow Jones Industrial Average
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President Trump is ‘furious’ at China
source of information Tell FOX Business to President Donald Trump He is “outraged” after receiving an explanation about China’s new export restrictions. Currently, the meeting between President Trump and Chinese President Xi Jinping, scheduled for two weeks in South Korea, is likely to be cancelled.
President Donald Trump announced an agreement with Pfizer to reduce drug prices for Medicaid in the Oval Office of the White House on September 30, 2025. (Win McNamee/Getty Images/Getty Images)
“I was scheduled to meet with President Xi at APEC in South Korea in two weeks, but there seems to be no reason to do so now,” he wrote on Truth Social.
President Trump threatens China with reversal of tariffs
President Trump also said he would have no choice but to counter China’s moves economically. The official said hefty tariffs could be considered.
Most of the S&P’s major sectors, led by technology, energy and consumer sectors, fell, but utilities and consumer staples held off the sell-off.
Broad selling hits most S&P sectors
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| XLK | Technology Select Sector SPDR ETF | 279.88 | -10.31 |
-3.55% |
| XLE | Energy Select Sector SPDR ETF | 87.76 | -1.21 |
-1.36% |
| XLY | Consumer Discretionary Sector SPDR ETF | 229.35 | -5.85 |
-2.49% |
| XLU | Utilities Select Sector SPDR ETF | 90.57 | -0.23 |
-0.25% |
| XLP | Consumer Staples Select Sector SPDR ETF | 78.25 | +0.20 |
+0.26% |
Magnificent Seven stocks fell sharply, led by Amazon, Meta, Nvidia, and Tesla.
“This is all a high-stakes poker game being played between the US and China in this AI revolution,” Wedbush Securities analyst Dan Ives said in a research note for clients. “We’re also seeing increased scrutiny of Nvidia’s golden chips in Beijing.”
“We think these moments are a buying opportunity to pick up the future winners of the semi-finals, software, big tech, and AI, as we don’t think these tensions will bubble into an even more tense period compared to the tense period we saw in April.”
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| AMZN | Amazon.com Inc. | 217.51 | -10.23 |
-4.49% |
| meta | Meta Platforms Co., Ltd. | 709.20 | -24.32 |
-3.31% |
| NVDA | NVIDIA Corporation | 184.96 | -7.61 |
-3.95% |
| TSLA | Tesla Inc. | 413.64 | -21.89 |
-5.03% |
Investors took advantage of the decline to buy more defensive stocks such as McDonald’s, Coke and Pepsi.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| M.C.D. | McDonald’s Co., Ltd. | 297.59 | +3.78 |
+1.29% |
| K.O. | coca cola company | 66.37 | +0.25 |
+0.38% |
| pep | PepsiCo Co., Ltd. | 149.94 | +5.23 |
+3.61% |
gold and silver hit records
gold, flight to safety, It cost over $4000, We are setting new records. The yellow metal is up about 50% this year, making it one of the best-performing asset classes. Silver also hit a new high of $50 on Thursday and was just below that level as of midday Friday.
This week, gold prices hit a new record of over $4,000. (Getty Images/Getty Images)
investors were buying Exchange Traded Fund (ETF) Companies tracking the precious metal on Friday include SPDR Gold Trust, the largest backed by physical gold, and ProShares Ultra Silver.
Wealthy investors use ETFS to target three hot assets
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| GLD | SPDR Gold Share Trust – USD ACC | 365.43 | -6.87 |
-1.85% |
| AGU | No data available | – | – |
– |
Crude oil falls below $60 per barrel
The trade war woes also hit oil prices, which fell below $60 per barrel. The U.S. Brent Oil ETF and U.S. Oil Fund fell sharply.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| USO | US Petroleum Fund – USD ACC | 69.47 | -3.02 |
-4.17% |
| BNO | US Brent Oil Fund – USD ACC | 28.50 | -1.11 |
-3.76% |
