Wall Street Opens Lower Amid Trump-China Trade Tensions

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•  30 May 2025
 

Wall Street kicked off Friday's trading session with a negative tone, as major U.S. stock indices slipped in early action. The Nasdaq Composite led the declines, falling up to 0.4%, followed by the S&P 500 and Dow Jones, amid renewed geopolitical and economic concerns.

The downturn was triggered by a sharp statement from President Trump, who accused China of "completely violating" the trade agreement between the two nations. In a fiery post on his social media platform, Trump declared, “It’s over with being Mr. Nice Guy!” — reigniting fears of a U.S.-China trade war and sparking investor anxiety across global markets.

Quantum computing stocks and high-growth tech shares also faced pressure. Notably, Gap Inc. (GPS) plunged 18% following disappointing earnings, dragging retail sentiment lower across the board.

Meanwhile, the U.S. dollar edged higher and Treasury yields held steady, reflecting cautious sentiment among investors awaiting further economic clarity.


The latest U.S. inflation and consumer spending data offered a mixed picture. While core PCE inflation—the Fed’s preferred measure—rose just 0.1% in April, annual growth slowed to 2.5%, marking the smallest yearly increase in more than four years. Inflation-adjusted consumer spending also rose by just 0.1% following a strong 0.7% gain in March, indicating slowing economic momentum.