Jakarta, RakyatNTT.ID – The U.S. stock market closed in negative territory on Thursday as investors grew increasingly concerned over the health of regional banks and escalating trade tensions between the United States and China.

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President Donald Trump announced plans to impose a 100% tariff on Chinese goods starting November 1, threatening further trade measures after Beijing restricted exports of rare earth minerals, a move that deepened worries about a renewed trade war.

Indexes Close Lower Across the Board

According to Reuters, the benchmark S&P 500 Index dropped 0.63%, or 41.99 points, to close at 6,629.07.

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The Nasdaq Composite fell 0.47% or 107.54 points, finishing at 22,562.54, while the Dow Jones Industrial Average lost 0.65% or 301.07 points, ending at 45,952.24.

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Out of the 11 major sectors in the S&P 500, 10 ended lower, led by the financial sector, which slumped 2.75%, followed by energy, down 1.12%.

Regional Banks Under Pressure

Shares of Zions Bancorporation plunged 13% after the regional lender reported unexpected losses from two loans in its California division.
The report sparked fresh fears of hidden credit risks across regional banks amid persistent high interest rates in the U.S. financial system.

AI Stocks Slip Despite Positive Outlook

Despite an upbeat outlook from Taiwan Semiconductor Manufacturing Co. (TSMC) on future AI-related spending, leading technology stocks declined.
Palantir and Meta Platforms fell 0.8% each, while Tesla slid 1.5%, reflecting a mixed sentiment in the AI and tech sector.

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Mixed Corporate Results

Hewlett Packard Enterprise (HPE) shares tumbled 10% after forecasting annual earnings and revenue below analysts’ expectations.
In contrast, J.B. Hunt Transport Services surged 22% following a strong third-quarter profit report, providing a rare bright spot in an otherwise weak trading session.

Market Outlook

Investors remain cautious as Wall Street faces dual headwinds — a fragile regional banking sector and heightened U.S.-China trade tensions. Analysts warn that further volatility could emerge if tariff threats are implemented and banking losses deepen. (*/rnc)