President Donald Trump took to Truth Social to warn of China’s impending export control measures on rare earths, accusing Beijing of market interference. He threatened increased tariffs and other countermeasures in response. Trump stated China sent letters to countries outlining restrictions on critical elements, calling out their global monopoly. He declared no intention to meet President Xi Jinping at the APEC summit and is considering a significant tariff hike on Chinese imports. Following his announcement, the S&P 500 saw a significant drop in points. This situation is developing, with updates expected. Matthew Kerr, a data analyst at Quiver Quantitative, provided insights on this issue.

Read more at Quiver Quantitative: Trump Warns of Sweeping Export Controls, Hints at China Tariff Retaliation