{"id":80246,"date":"2025-10-14T16:36:12","date_gmt":"2025-10-14T16:36:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/80246\/"},"modified":"2025-10-14T16:36:12","modified_gmt":"2025-10-14T16:36:12","slug":"global-stock-markets-tumble-as-beijing-imposes-new-ban-on-u-s-shipping","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/80246\/","title":{"rendered":"Global stock markets tumble as Beijing imposes new ban on U.S. shipping"},"content":{"rendered":"

A broad-based selloff swept global stock markets this morning after U.S. Treasury Secretary Scott Bessent told the Financial Times<\/a> that China \u201cwill be hurt the most\u201d if it doesn\u2019t submit to Washington\u2019s trade demands. At the same time, China showed no signs of backing down from President Trump\u2019s trade war: It imposed sanctions banning Chinese companies<\/a> from doing business with the U.S. subsidiaries of\u00a0South Korean shipbuilder Hanwha<\/a> Ocean. South Korea\u2019s KOSPI fell 0.63% on the news.<\/p>\n

S&P 500 futures were down 0.87% this morning. The index opened the better part of 1% lower almost immediately. Markets in Asia and Europe were almost all down, with Japan\u2019s Nikkei 225 off 2.58% and Europe\u2019s Stoxx 600 down 0.49% by midmorning.<\/p>\n

Beijing\u2019s new export controls on rare earth materials\u2014which the U.S. is dependent on\u2014are \u201ca sign of how weak their economy is, and they want to pull everybody else down with them,\u201d Bessent said<\/a>. \u201cMaybe there is some Leninist business model where hurting your customers is a good idea, but they are the largest supplier to the world,\u201d he told the FT. \u201cIf they want to slow down the global economy, they will be hurt the most.<\/p>\n

\u201cThey are in the middle of a recession\/depression,\u201d he added, \u201cand they are trying to export their way out of it. The problem is they\u2019re exacerbating their standing in the world.\u201d (China is, in fact, doing very well<\/a>. Its exports rose 8.3% in September, and the World Bank expects China\u2019s GDP to grow 4.8% this year. U.S. growth is forecast at 1.4%.) <\/p>\n

The mood among traders today is a stark reversal from yesterday, when the S&P 500 rose 1.56% after investors realized that Trump and China President Xi Jinping will likely meet at the upcoming APEC conference at the end of October\u2014an opportunity for both men to reach one of Trump\u2019s famous deals.<\/p>\n

Elsewhere, there wasn\u2019t much to cheer up the markets. A third of bettors on Polymarket<\/a> think the U.S. government shutdown will continue beyond Nov. 8.<\/p>\n

Pantheon Macroeconomics noted that consumer sentiment remains low: The University of Michigan\u2019s consumer survey, which asks whether buyers feel now is a good time to make a major purchase, lately \u201cpoints to year-over-year growth in this measure of core spending slowing to near-zero soon, a far cry from the 6% pace earlier this year,\u201d according to Samuel Tombs and Oliver Allen.<\/p>\n

\"\"<\/p>\n

Goldman Sachs added to the gloom by publishing a note this morning titled \u201cJobless growth.\u201d \u201cThe modest job growth alongside robust GDP growth seen recently is likely to be normal to some degree in the years ahead. We expect the great majority of U.S. potential GDP growth to come from solid productivity growth boosted by advances in artificial intelligence, with only a modest contribution from labor supply growth due to population aging and lower immigration,\u201d authors Pierfrancesco Mei and David Mericle said.<\/p>\n

In the longer term, however, most analysts continue to see stocks going up, driven largely by the tech and AI sector. <\/p>\n

\u201cRoughly half of this S&P 500 bull has been driven by just seven stocks: Amazon<\/a> (AMZN), Alphabet<\/a> (GOOGL), Apple<\/a> (AAPL), Broadcom<\/a> (AVGO), Meta<\/a> (META), Microsoft<\/a> (MSFT), and Nvidia<\/a> (NVDA),\u201d Jeff Buchbinder and Adam Turnquist of LPL Financial told clients in a note. But \u201cthe Fed is in the middle of a rate-cutting cycle, and inflation appears to be under control despite increased tariffs, likely eliminating that as a potential bull market killer.\u201d <\/p>\n

Here\u2019s a snapshot of the markets this morning:<\/p>\n

The S&P 500 was down 0.83% this morning. S&P futures were off 0.87% prior to the opening bell. The index closed up 1.56% in its last session.<\/p>\n

The STOXX Europe 600 was down 0.47% in early trading.\u00a0<\/p>\n

The U.K.\u2019s FTSE 100 was flat in early trading.\u00a0<\/p>\n

Japan\u2019s Nikkei 225 was down 2.58%.<\/p>\n

China\u2019s CSI 300 was down 1.2%.\u00a0<\/p>\n

The South Korea KOSPI was down 0.63%.\u00a0<\/p>\n

India\u2019s Nifty 50 was down 0.42% before the end of the session.\u00a0<\/p>\n

Bitcoin was down to $111.8K.Fortune Global Forum returns Oct. 26\u201327, 2025 in Riyadh. CEOs and global leaders will gather for a dynamic, invitation-only event shaping the future of business. Apply for an invitation.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"A broad-based selloff swept global stock markets this morning after U.S. Treasury Secretary Scott Bessent told the Financial…\n","protected":false},"author":2,"featured_media":80247,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[72,114,969,61,60,123,7914,4755],"class_list":{"0":"post-80246","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-china","10":"tag-donald-trump","11":"tag-ie","12":"tag-ireland","13":"tag-markets","14":"tag-scott-bessent","15":"tag-stock"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/80246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=80246"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/80246\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/80247"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=80246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=80246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=80246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}