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Tariffs Rattle Wall Street | Top Analyst Says Stocks Are In ‘1996 Moment,’ Not 1999
Plus, Apple's foldable iPhone, top stories of the week, earnings shift, and more
Justin Giles
October 13, 2025
Happy Monday! Friday’s market turmoil caught many investors off guard as escalating trade tensions sparked a massive selloff. What’s behind this shift, and what should investors be preparing for next? Read on for all the insights and analysis.
Also, with stocks plunging, Wall Street analyst Dan Ives shares his thoughts on what he thinks is next for the tech sector. Is this pullback the start of another great opportunity, or something to avoid? Read on to find out.
Plus, Benzinga is hosting the biggest Fintech conference of the year. Click here for more details, and come join the biggest names in Fintech.
In Today's Edition
TOP STORY
Markets were jolted on Friday after President Trump announced sweeping 100% tariffs on all Chinese imports, set to begin on Nov. 1. With both nations now locking down critical exports — from rare earth minerals to advanced software — this trade standoff is rapidly transforming into something far more disruptive than investors anticipated.
What triggered this sudden escalation and, more importantly, what could it mean for your portfolio in the weeks ahead? Read on to find out.
SPECIAL EVENT
The 11th annual Benzinga Fintech Day & Awards is where ideas become deals. Join top-tier VCs, tech founders and decision-makers from leading financial institutions on November 10, 2025, in NYC. Explore key topics like 24/5 trading, bridging digital assets and equities and the future of retail investing. From speed networking to 1:1 investor meetings, this is where fintech conversations drive action — and results. Celebrate innovation, spark partnerships and shape what's next.
MARKET RECAP
| Averages & Assets | ||||
| Asset | Close 10/10/25 | Price Change | ||
| $6,552.51 | -2.71% | ||
| $22,204.43 | -3.56% | ||
| $45,479.60 | -1.90% | ||
| 4.06% | -0.09 bps | ||
| $4,075.31 | +2.72% | ||
| $438.92 | -9.39% | ||
| $113,202.00 | -6.98% | ||
| $3,835.63 | -12.2% | ||
| $2.38 | -15.3% | ||
Last Week: U.S. indexes closed sharply lower Friday after President Trump threatened higher tariffs on China and criticized the country’s restrictions on rare earth metals, escalating trade tensions. The Nasdaq lost 3.6% after briefly hitting a record intraday high earlier in the session, while the S&P 500 and Dow fell 2.7% and 1.9%, marking the worst daily decline for the indexes since April 10. VIX spiked above 22, ending a 4-month stretch of relative calm. The selloff also reflected investor concerns over the ongoing U.S. government shutdown, now in its 10th day. For the week, the Dow fell 2.7%, the Nasdaq was down 2.5% and the S&P 500 dropped 2.4%.
On Our Radar: With the government shutdown still ongoing, economic data is still being delayed and won’t be released. The only notable event is a speech from Philadelphia President Anna Paulson. On the earnings front, all eyes will be on the banking sector with JPMorgan (JPM), Wells Fargo (WFC), Goldman Sachs (GS) and Citigroup (C) reporting before the market opens on Tuesday.
MARKET HEATMAP
Despite the markets plunging after getting spooked by China trade tariffs, a number of companies like PepsiCo (PEP) and CVS Health (CVS) finished the day in the green. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Friday.
Discover how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.
FIVE ZINGERS
MARKETOPOLIS SPOTLIGHT
Shawn David Nelson of Lovesac ($LOVE) shares how they're building the "Nike of furniture" on the latest episode of Marketopolis.
He covers how they’re creating products that last a lifetime but evolve with your life.
MARKET HISTORY
On This Day In 1971…
Intel went public at $23.50 per share, raising roughly $6.8 million and giving the company a $58 million market cap. At the time, the company was just three years old and primarily known for its memory chips. The IPO marked a key moment not just for Intel, but for Silicon Valley’s rise as a global tech hub. Today, the company has a market cap of $173 billion.
QUOTE OF THE DAY
“Successful investing is about managing risk, not avoiding it.“
— Benjamin Graham
ONE FOR THE ROAD
One of Wall Street’s top analysts believes the recent dip in tech stocks isn’t a sign of a looming crash, but rather the early stages of a major shift. While many fear a bubble, Wedbush analyst Dan Ives sees this moment as something far more promising for AI and Big Tech.
With global tensions adding uncertainty, the big question is: should investors hit the brakes or seize the opportunity? Read on to find out.
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