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Chinese stocks listed in the U.S. slumped Friday after former President Donald Trump threatened sharp tariff hikes on Chinese imports, calling China “very hostile.” Alibaba and Baidu dropped about 8%, JD.com 6.6%, PDD Holdings 5.2%, and the iShares MSCI China ETF fell 5.2%. The selloff followed renewed tension over trade, technology and security, as Beijing tightened controls on rare earth exports. Nationwide’s Mark Hackett said markets were swayed by emotion and uncertainty, and noted investors are waiting, even with the ETF still up 32% this year.

Prepared by Christopher Adams and reviewed by editorial team.