US-China trade tensions rattle global markets: Here's what happened
Chinese stocks listed in the US took a big hit on October 10, 2025, after US President Trump announced a steep 100% tariff on Chinese imports, set to take effect from November 1, 2025.
This move was a direct response to China tightening exports of rare earth minerals—key materials for tech—raising worries about another round of trade war drama.
US tech stocks and Australian dollar take a hit
The fallout wasn't just in China. Chinese stocks listed in the US dropped over 6%, and major American tech names like NVIDIA also slid nearly 5%.
Even the Australian dollar dipped, showing just how connected global markets are—and how much uncertainty can ripple out from US-China moves.
What to expect next?
Analysts expect more market jitters as everyone waits for upcoming trade talks and a high-stakes meeting between Trump and President Xi Jinping later this month.
With both sides flexing their muscles—tariffs from the US, export controls from China—the next steps could shape everything from tech prices to your favorite gadgets.