China imposed limits on rare earth minerals a day earlier.
President Donald Trump on Friday voiced frustration with what he called China’s „trade hostility“, threatening to respond with large tariffs on China and to cancel his upcoming meeting with Chinese President Xi Jinping.
The comments triggered a stock selloff. The Dow Jones Industrial Average tumbled 385 points, or 0.8%. While the S & P 500 fell 1.25% and the tech-heavy Nasdaq dropped 1.75%.
Trump’s remarks came a day after China imposed new restrictions on rare-earth minerals, key materials in the production of semiconductors used for everything from artificial intelligence to home appliances.
