Stocks Wobble Amid US-China Trade Tensions

Nvidia slumps 4.4%, dragging down S&P 500
By Newser Editors and Wire Services
Posted Oct 14, 2025 3:30 PM CDT
Stocks Wobble Amid US-China Trade Tensions
Traders James Bodner, foreground, and Chris Lagana work on the floor of the New York Stock Exchange, Monday, Oct. 13, 2025.   (AP Photo/Richard Drew)

US indexes bounced between gains and losses and wound up mixed on Wall Street on Tuesday as trade tensions continued to simmer between Washington and Beijing.

  • The S&P 500 gave up an afternoon gain and fell 10.41 points, or 0.2%, to 6,644.31.
  • The Dow Jones Industrial Average rose 202.88 points, or 0.4%, to 46,270.46.
  • The Nasdaq composite fell 172.91 points, or 0.8%, to 22,521.70.
China said it is banning dealings by Chinese companies with five subsidiaries of South Korean shipbuilder Hanwha Ocean, swiping at President Trump's efforts to rebuild the industry in America, the AP reports.

International shipping and shipbuilding have become a major source of friction between Washington and Beijing, with each side imposing new port fees on each others' vessels. Those fees went into effect on Tuesday. Technology stocks are particularly sensitive to trade issues involving China. Big chipmakers and other companies rely on China for raw materials and manufacturing. China's large consumer base is also important for sales growth. Chipmaker Nvidia slumped 4.4%. Broadcom, another tech heavyweight, fell 3.5%.

Banks were the first big sector to kick off the latest round of earnings reports and the results hint at Wall Street notching one of its most profitable quarters ever. Still, executives from major banks expressed various degrees of caution about markets and the economy. JPMorgan Chase slipped 1.9%, Wells Fargo rose 7.2%, and Citigroup rose 3.9%. Industrial firms and retailers were among the other companies making some of the biggest gains. Caterpillar rose 4.5% and Walmart rose 5%. On the losing side, Beyond Meat fell 24.6% and slipped below $1 as investors fretted over the company's plans to cut its debt by issuing more shares.

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The US government shutdown has put a halt to the usual economic updates on inflation, consumer spending, and employment. That has made it more difficult for investors and economists to continue gauging the economic impact from tariffs. Wall Street is looking toward the latest round of company earnings and forecasts to get a better sense of the broader economic picture. Profit reports will also help Wall Street gauge the broader market's value amid criticism that it has become too expensive after prices rose much faster than corporate profits. For stocks to look less expensive overall, either prices need to fall, or companies' profits need to rise.

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