Overview

• The White House formally announced 100% tariffs on Chinese imports and new export controls effective Nov. 1, as Beijing unveiled a 400‑yuan (about US$56) per ton fee on U.S. vessels docking at Chinese ports starting Oct. 14 and warned of further steps.
• U.S. stocks rallied early Monday after the softer message, with the S&P 500 up about 1.5% and the Nasdaq roughly 2% as large tech names led gains.
• Asian markets fell earlier in the day despite the later shift in tone, and gold hit a record high near US$4,090 per troy ounce on safe‑haven demand.
• Agricultural commodities weakened, with Chicago soybean futures dropping around 2% as traders anticipated reduced Chinese purchases.
• Traders see elevated volatility persisting given the Nov. 1 tariff timeline and a federal data blackout from the U.S. government shutdown.