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Wall Street selloff deepens after Trump’s tariff escalation on China
Wall Street fell sharply after Trump’s tariff threat, with tech and semiconductor stocks leading the market downturn.
U.S. stocks tumbled as former President Trump announced a sweeping 100% tariff on Chinese imports starting November 1, escalating trade tensions. Tech giants including Nvidia, Tesla, and Amazon each fell more than 2%, while semiconductor stocks slid 6.3%, marking the sector’s steepest drop since April. The S&P 500 and Nasdaq posted their worst single-day declines in months as investors fled risk assets amid renewed uncertainty about global supply chains and inflation pressures. (Reuters)