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.
