Wall Street Traders Jolted as Tariff War Flares, Rare Earths Rise

Flaring trade tensions between the US and China sent shockwaves across markets Friday, hammering stocks, oil and crypto while spurring a dash for the perceived safety of Treasuries and gold. President Donald Trump’s threat of a “massive increase” in China tariffs shook Wall Street at the end of an already-volatile week that saw concern build about a bubble in artificial-intelligence companies. But rare earth stocks like MP Materials, which the US took a stake in, rose after Trump said China’s export controls and rare earths monopoly is “a rather sinister and hostile move.” Bloomberg Intelligence Global Equity Strategist Gillian Wolff and Bloomberg News Economic Statecraft Reporter Joe Deaux join Bloomberg Businessweek Daily to discuss. They speak with Tim Stenovec and Emily Graffeo. (Source: Bloomberg)


Source link