US stocks nosedived Friday after President Trump threatened a “massive increase” of tariffs on China, accusing the nation of “becoming very hostile” in its rare earth restrictions.

The Dow Jones Industrial Average plunged 518 points, or 1.1%, by approximately 12:25 p.m. ET, while the S&P 500 and tech-heavy Nasdaq fell 1.3% and 1.8%, respectively.

Investors quickly grew fearful of heightened trade tensions as Trump appeared to cancel a planned meeting between himself and Chinese counterpart Xi Jinping later this month. 3

In a lengthy post on Truth Social , Trump said China’s hostility “came out of nowhere,” with the country allegedly looking to impose strict export controls on virtually every aspect of its rare earth supply chain.

Supplies of minerals like copper, cobalt, zinc an

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