US-China Trade Tensions Overwhelmed Positive Earnings Releases

Barry Adams
14 Oct, 2025
New York City

Stock market indexes turned lower and erased gains of the previous session as US-China trade tensions escalated. 

The S&P 500 index decreased 1.1%, and the tech-heavy Nasdaq Composite fell 1.4% amid worries that rapidly escalating trade tensions between the two largest economies could spiral out of control. 

Gold edged up 0.2% to 4,135.60, and silver decreased 2.2% to $51.27 as investors continued to shift away into safe haven assets amid falling trust in the U.S. dollar-denominated assets. 

The U.S. crude oil prices dropped to a five-year low of $57.21 per barrel amid worries about shrinking global demand as economies in the U.S., Europe, and Japan struggle to advance and China's growth slows. 

 

U.S. Stock Movers 

JPMorgan Chase & Company declined 0.8% to $305.60, and the leading financial services provider reported better-than-expected quarterly results, driven by a surge in trading and investment banking revenue. 

Johnson & Johnson edged up 0.7% to $192.13, and the company's third-quarter results surpassed market expectations. 

Revenue in the third quarter rose to $23.99 billion, and adjusted earnings per share were $2.80.  

The drug and medical device maker raised its 2025 revenue outlook to a new range between $93.5 billion and $93.9 billion, about $300 million higher than the previous estimate. 

The company said it plans to spin off its orthopedic division, which makes knee, hip, and shoulder implants, generating $9.2 billion in revenue in 2024, about 10% of total revenue. 

Goldman Sachs Group decreased 1.2% to $777.0, and the investment banking and asset management services provider's third-quarter results surpassed market expectations. 

Revenue increased to $15.2 billion from $14.6 billion, net income advanced to $3.86 billion from $3.47 billion, and diluted earnings per share advanced to $12.25 from $10.91 a year ago.