US President Donald Trump addresses a Cabinet meeting at the White House in Washington, DC, on October 9, 2025.
Evelyn HochsteinReuter
Since the release of ChatGPT in 2022, artificial intelligence (in other words, “OpenAI and the companies within its ecosystem”) has been accelerating the stock market.
The clearest example of the sustained rise we are enjoying is in recent weeks. S&P500 Essentially every time the index rises, even if it’s only a 0.05% rise, it hits a record closing price.
That doesn’t mean investors aren’t concerned about the possibility of an AI bubble forming. If you squint a little, Nvidia’s A huge investment deal with OpenAI may seem like a wad of money passing from one hand to the other, while OpenAI’s ambitious Stargate project, despite having only one “star” in its name, may need something like five energies to get it going.
But none of that stopped stock prices from rising over the long term. Until one man said something.
US President Donald Trump on Friday imposed new 100% tariffs on the Asian giant on top of existing tariffs in response to China’s tightening of rare earth exports. “We will also impose export controls on all critical software on November 1st,” Trump added.
With this one action, the S&P 500 and Nasdaq Composite It was the biggest drop since April, and we all know what happened then.
Taylor Swift is one of the few people who can move billions of people with a single statement. Trump is another. And President Trump wrote, “The rest is history.”
What you need to know today
President Trump imposes new tariffs on China. The president announced that the United States will impose a 100% tariff on imports from China starting November 1, in response to China’s increased exports of rare earth metals. But President Trump said Sunday that “everything will be fine” with China.
China’s export growth exceeded expectations. International shipments rose 8.3% in September compared to the same month last year, exceeding the 7.1% increase expected in a Reuters poll and recovering from a six-month low in August. Imports also exceeded expectations.
Israeli hostages were released. Palestinian militant group Hamas released its first seven surviving Israeli hostages on Monday, the first step in a cease-fire deal brokered with support from Mr. Trump.
Stock prices hit again after being hit by the trade war. Major U.S. indexes fell on Friday, with tech giants losing $770 billion in market capitalization. U.S. futures rebounded Sunday night. However, Asia-Pacific markets fell on Monday, with Chinese stocks losing the most.
(PRO) China will continue to be a leader in robotics. This is according to Morgan Stanley, which wrote in a Sept. 30 report shared with the media last week that “China’s manufacturing industry has the potential for rapid growth” in the coming years.
And finally…
The Chinese flag flies in the background of the Lujiazui financial district.
Video Visual China Group | Getty Images