Trump unilaterally escalates trade friction, US stocks encounter "Black Friday," with tech giants' market value evaporating by a total of $770 billion

According to Zhitong Finance APP, U.S. President Donald Trump announced on Friday that starting from November 1, 2025, an additional 100% tariff will be imposed on Chinese imported goods, escalating trade tensions sharply. He stated that the U.S. will also initiate export restrictions on "critical software" to China on the same day. Currently, tariffs on some Chinese goods in the U.S. are close to 145% on individual items, but they have been postponed until November 10 during negotiations for a broader trade agreement between the two sides. Meanwhile, other tariff measures from the U.S. are still being implemented. New tariffs on kitchen cabinets and bathroom cabinets took effect on October 1; tariffs on certain wooden products such as lumber and furniture will be implemented on October 14; the suspension of tariffs on Mexican goods is also expected to end early next month. In addition, the U.S. Supreme Court is expected to hear a lawsuit regarding Trump's "reciprocal tariff" policy next month. If the court rules unfavorably, the policy and the tariff revenue it generates may face significant adjustments. Affected by the threat of tariff escalation, the U.S. stock market saw a decline on Friday. Analysts believe that investors are worried about a resurgence of trade friction, which will drag down global supply chains and corporate confidence. Shares of Amazon (AMZN.US), NVIDIA (NVDA.US), and Tesla (TSLA.US) all fell about 5%, with the three companies collectively losing about $770 billion in market value, dragging the Nasdaq index down 3.56% and the S&P 500 index down 2.71%, marking the worst single-day performance since April. Chip manufacturer NVIDIA saw its market value shrink by about $229 billion on Friday, leading the decline. The company became the first to surpass a market value of $4.5 trillion at the end of September. The GPU chips produced by NVIDIA are core devices for training artificial intelligence models, with clients including cloud computing giants like Microsoft, and it is also an important supplier for OpenAI. User demand for OpenAI is still growing rapidly. In September, the company launched the video generation application "Sora 2," and the weekly active user count for its flagship product ChatGPT has surpassed 800 million. However, as the main cloud service partner for OpenAI, Microsoft needs to continue expanding its data center infrastructure investment to maintain operations, and on Friday its market value decreased by about $85 billion. Amazon's stock price was also under pressure during this sell-off, completely erasing its gains for the year, currently down about 2% from the beginning of the year. The company competes with Microsoft in the cloud GPU leasing market but has relatively little direct business with OpenAI. Amazon's market value evaporated by $121 billion in a single day. CEO Andy Jassy stated during an analyst call in July that concerns about the impact of tariffs have been exaggerated, saying, "Many reports are incorrect, and we cannot predict what will happen next." Electric vehicle manufacturer Tesla just launched a low-priced model on Tuesday, and its stock price was not spared, with a single-day market value loss of about $71 billion. The company plans to announce its third-quarter financial report on October 22, with Microsoft releasing its results the following week, and NVIDIA disclosing its quarterly report in November. Additionally, Google's parent company Alphabet (GOOG.US, GOOGL.US) fell about 2%, and Facebook's parent company Meta (META.US) dropped nearly 4%, indicating a rapid cooling of market risk appetite for the technology sector