US stock markets showed mixed but slightly positive performance on Wednesday, with the Nasdaq Composite leading the charge amid solid earnings reports and tech stock growth. Global markets experienced significant declines due to escalating US-China tensions, leading to stock market selloffs and rising bond yields. Amid market turmoil, US Treasury Secretary Scott Bessent emphasized a shift towards supporting smaller institutions, while currency markets saw a weakening US dollar and increased volatility in cryptocurrencies and commodities.
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Trade row: Trump says he could ‘destroy China’; hints at 200% tariffs on rare earths
US President Donald Trump asserted that the U.S. has significant leverage over China in the ongoing trade dispute, claiming he could "destroy" the Chinese economy if he chose to use it. Amidst escalating tariffs and a recent agreement to extend a trade truce, Trump hinted at imposing 200% tariffs on rare earths and mentioned a potential trip to China following discussions with President Xi Jinping. Want More Context? 🔎
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