Home Majority Chief Steve Scalise responds to Chuck Schumer’s shutdown feedback, JD Vance’s viral submit and the toll of the federal government standoff on households and staff.
A commerce spat between the U.S. and China erupted Friday, sending U.S. shares spiraling, with all three of the most important averages closing sharply decrease, registering the worst session since April.
Ticker Safety Final Change Change % I:DJI DOW JONES AVERAGES 45479.6 -878.82
-1.90%
SP500 S&P 500 6552.51 -182.60
-2.71%
I:COMP NASDAQ COMPOSITE INDEX 22204.429641 -820.20
-3.56%
The Dow Jones Industrial Common fell almost 900 factors, whereas the Nasdaq fell 3.5% and the S&P 500 2.7%. Nonetheless, all three of the most important benchmarks touched recent report highs earlier this week.
The NYSE and Nasdaq will function regular hours on Monday, the Columbus Day vacation, whereas the bond market can be closed.
Dow Jones Industrial Common
. Trump “pissed off” at China
Sources inform FOX Enterprise’ Edward Lawrence that President Donald Trump is “pissed off” after a briefing about China’s new announcement of export controls. Now, a gathering between Trump and Chinese language President Xi Jinping on account of happen in South Korea in two weeks, is prone to be scrapped.
President Donald Trump declares a cope with Pfizer to decrease Medicaid drug costs within the Oval Workplace of the White Home Sept. 30, 2025. (Win McNamee/Getty Photos / Getty Photos)
“I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” he posted on Reality Social.
TRUMP THREATENS CHINA WITH TARIFF CLAPBACK
Trump additionally mentioned he can be pressured to financially counter the Chinese language transfer. The supply mentioned giant tariffs could possibly be on the desk.
A majority of the massive sectors within the S&P fell, led by expertise, vitality and shopper discretionary, whereas utilities and shopper staples bucked the promoting.
Broad promoting hits most S&P sectorsTicker Safety Final Change Change % XLK TECHNOLOGY SELECT SECTOR SPDR ETF 278.44 -11.75
-4.05%
XLE ENERGY SELECT SECTOR SPDR ETF 85.22 -2.54
-2.89%
XLY CONSUMER DISCRETIONARY SELECT SECTOR SPDR ETF 228.68 -6.52
-2.77%
XLU UTILITIES SELECT SECTOR SPDR ETF 90.57 -0.23
-0.25%
XLP CONSUMER STAPLES SELECT SECTOR SPDR ETF 78.13 +0.09
+0.11%
The Magnificent Seven shares noticed hefty declines, led by Amazon, Meta, Nvidia and Tesla.
“This is all a game of high stakes poker going on between the US and China in this AI Revolution as we are also seeing more scrutiny in Beijing around Nvidia’s golden chips,” Wedbush Securities analyst Dan Ives mentioned in a analysis be aware to purchasers.
“These moments we view as buying opportunities to own the winners in semis, software, Big Tech, and the AI future as in our view these tensions will not bubble up into a much more tense time vs. the nervous period of time we saw in April.”
Ticker Safety Final Change Change % AMZN AMAZON.COM INC. 216.37 -11.37
-4.99%
META META PLATFORMS INC. 705.30 -28.21
-3.85%
NVDA NVIDIA CORP. 183.04 -9.53
-4.95%
TSLA TESLA INC. 413.49 -22.05
-5.06%
Buyers did use the selloff to snap up extra defensive names, together with McDonald’s, Coke and Pepsi.
Ticker Safety Final Change Change % MCD MCDONALD’S CORP. 297.02 +3.21
+1.09%
KO THE COCA-COLA CO. 67.05 +0.68
+1.02%
PEP PEPSICO INC. 150.08 +5.37
+3.71%
THE ETF REPORT: NEWS & ANALYSIS
Gold and silver hit data
Gold, a flight to security, climbed above $4,000, hitting a recent report. The yellow metallic has gained about 50% this 12 months and is among the many high performing belongings courses. Silver additionally hit a brand new excessive of $50 on Thursday and is sitting slightly below that stage as of noon on Friday.
Gold costs hit a recent report above $4,000 this week. (Getty Photos / Getty Photos)
Buyers had been shopping for exchange-traded funds that observe the valuable metals on Friday, together with the SPDR Gold Belief, the biggest backed by bodily gold, and ProShares Extremely Silver.
WEALTHY INVESTORS TAP ETFS FOR THREE HOT ASSETS
Ticker Safety Final Change Change % GLD SPDR GOLD SHARES TRUST – USD ACC 369.10 +3.61
+0.99%
AGU NO DATA AVAILABLE – –
–
Oil falls beneath $60 per barrel
Commerce struggle woes additionally hit oil costs, which fell beneath $60 per barrel. The U.S. Brent Oil ETF and the U.S. Oil Fund had been sharply decrease.
Ticker Safety Final Change Change % USO UNITED STATES OIL FUND – USD ACC 69.39 -3.12
-4.30%
BNO UNITED STATES BRENT OIL FUND – USD ACC 28.49 -1.12
-3.78%
Vitality giants Exxon Mobil, Chevron and Conoco Phillips all fell in tandem.
Ticker Safety Final Change Change % XOM EXXON MOBIL CORP. 112.91 -1.11
-0.97%
CVX CHEVRON CORP. 148.90 -2.74
-1.81%
COP CONOCOPHILLIPS 87.68 -4.28
-4.65%
GET FOX BUSINESS ON THE GO BY CLICKING HERE