Wall Street experienced a historic plunge as major U.S. stock indices suffered their largest drop since Donald Trump took office. The sudden market crash was triggered after President Trump announced the cancellation of a high-profile meeting with Chinese President Xi Jinping during the APEC summit, citing escalating trade tensions. In addition, Trump hinted at imposing significant tariffs on imported Chinese goods, fueling fears of a renewed trade war between the world’s two largest economies. U.S. media reports indicated that by Friday’s close, all weekly gains were erased as investors reacted to the news with panic selling. Analysts attribute the rapid decline to growing uncertainty in global trade relations and potential economic repercussions. The announcement sent shockwaves across financial markets worldwide, creating heightened volatility and investor anxiety.
The U.S. stock market suffered its largest decline following the cancellation of a meeting between U.S. President Donald Trump and Chinese President Xi Jinping, along with threats of increased tariffs.
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