New York, NY – U.S. markets plunged sharply Friday afternoon after President Donald Trump announced plans to impose a 100% tariff on all Chinese goods starting November 1, 2025. The move, revealed in a Truth Social post, sparked immediate sell-offs across major indexes amid investor concern over renewed trade tensions with Beijing.
According to data from MarketWatch, the Dow Jones Industrial Average fell 1,338 points, closing at 45,479.60, while the NASDAQ Composite dropped 677.63 points to 22,204.43, and the S&P 500 lost 182.73 points, ending at 6,552.51 for the week. The declines accelerated late Thursday and continued through Friday, wiping out recent market gains.
In his post, Trump cited what he called “an extraordinarily aggressive position” by China on trade and pledged that the U.S. will respond with sweeping tariffs and export controls. The proposed measures would double current duties and extend to “virtually every product” made in China.
Analysts say the announcement reignited fears of a full-scale trade war similar to those seen during Trump’s first term. “Markets hate uncertainty, and this creates a big one,” said one financial strategist on Friday.
Investors will be watching for further reaction from China and any statements from U.S. trade officials in the coming days.
