Friday closed down -0.15 (-0.25%), and July RBOB gasoline (RBN25) closed down -0.0221 (-1.08%). Crude oil and gasoline prices today fell to 3-week lows. Dollar strength Friday weighed on crude prices along with the escalation of trade tensions between the US and China,

Nvidia (NVDA) and other semiconductor stocks slid Friday amid worries about worsening U.S.-China trade tensions. Shares of Nvidia were down nearly 4% in recent trading. Advanced Micro Devices (AMD), Broadcom (AVGO),

President Trump said that Beijing was not honoring the terms of a temporary agreement and warned of further confrontation.

Official PMI remains below 50, with ‘persistently high uncertainty’ in global trade tipped to weigh on growth outlook in both US and China.

China issued a blistering response after U.S. Defense Secretary Pete Hegseth said "the threat China poses is real."

China said it will not send its defense minister to the Shangri-La Dialogue in Singapore and recently escalated export restrictions.

US President Donald Trump signalled renewed trade tensions with China, arguing that China had "violated" a deal to de-escalate tariffs, at a time when both sides appeared deadlocked in negotiations.

Trade tensions between China and the US have been ongoing since 2018 and escalated into a full-scale trade war in 2025.

China is threatening legal action against anyone enforcing the U.S.' recent guidelines against using Huawei's AI chips.

JP Morgan Chase CEO Jamie Dimon urged the U.S. to prioritize internal improvements over fixating on China as an adversary. He emphasized that America's challenges lie within its borders, calling for reforms in various sectors to unlock economic growth.

Tensions escalate between the US and China following comments by US Defence Secretary Pete Hegseth, criticizing China's actions in the Asia-Pacific, particularly regarding Taiwan. China's foreign ministry rebukes Hegseth's 'Cold War mentality' and accuses the US of instigating regional conflict amid ongoing trade and diplomatic disputes.