Wall Street Expects Trump's 'Massive' Tariff Hike Threat Against China To Hurt US More, Says Expert: 'Dollar Is Not Looking Healthy'

Benzinga

U.S. stocks tumbled after Trump threatened new China tariffs, with the Nasdaq down 3.6% and S&P 500 off 2.7%. As gold surged 53% and the dollar weakened, analysts warned markets see the U.S. losing the tariff battle.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02U.S. stocks fell sharply on Friday after Trump threatened new tariffs on China,

00:07sending all three major indexes lower, according to Benzinga.

00:11The Nasdaq dropped 3.6 percent, while the S&P 500 slid 2.7 percent,

00:18its steepest decline since April's Liberation Day tariffs.

00:22Brookings Institution senior fellow Robin Brooks said markets now see the U.S. as losing the

00:28tariff battle with China, viewing the trade measures as backfiring on America.

00:33The dollar index fell 0.7 percent, extending its year-to-date drop to nearly 9 percent,

00:39while gold soared 53 percent as investors fled to safety.

00:43Brooks warned that the dollar appears increasingly weak as it failed to gain from market turmoil,

00:48while gold prices surged instead, signaling eroding investor confidence.

00:53Trump defended his stance on truth social, citing China's aggressive trade posture

00:58and threats to restrict rare earth exports.

01:02For all things money, visit Benzinga.com.

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