Market Wrap: U.S. Stocks Whipsaw in Volatile Session Amid Trade Tensions
U.S. equity markets swung wildly on October 14 as investors grappled with escalating U.S.-China trade tensions. The Dow Jones Industrial Average erased a 615-point drop to close up 0.44%, while the S&P 500 and Nasdaq Composite finished lower by 0.16% and 0.76% respectively.
President Trump's decision to impose 100% tariffs on Chinese imports effective November 1 triggered the volatility, coming just after China restricted exports of critical minerals used in advanced technologies. The market turbulence overshadowed strong Q3 earnings from major banks including JPMorgan Chase and Wells Fargo, which surged 7% on its results.