US stock market futures crash today: Dow, S&P 500, Nasdaq futures drop over 1% as China retaliates; shipping sanctions jolt traders, crypto loses $150B, silver hits record high …

US stock futures slid on October 14, 2025, amid renewed US-China trade tensions that rattled investor sentiment ahead of the key earnings season kickoff. Dow futures dropped about 0.6%, S&P 500 futures fell 0.9%, and the tech-heavy Nasdaq 100 futures led the selloff with a more than 1.2% decline. The downturn follows a strong rebound the previous day as China retaliated against US shipping curbs by sanctioning US-linked South Korean shipbuilding units, escalating trade war fears and souring market mood.

The upcoming earnings reports from major Wall Street banks JPMorgan Chase, Citigroup, Goldman Sachs, and Wells Fargo are drawing focus, with expectations for profit growth amid broader market uncertainty caused by the ongoing US government shutdown. Critical economic data releases, including the September CPI inflation report, have been delayed, adding to the uncertainty. Markets are closely watching Fed Chair Jerome Powell’s speech for monetary policy signals amid this data blackout.

In commodities, silver hit a record high above $52.50 an ounce on concerns about liquidity in London and surging safe-haven demand. This historic rally in silver prices is driven by both investment and industrial demand amid economic uncertainty. Alongside silver, other critical mineral stocks, especially Australian firms, surged sharply on interest from the US for rare earth and defense-related minerals amid trade tensions impacting supply chains.
Oil prices dropped about 2% amid worries over US-China relations affecting global demand. Cryptocurrencies also suffered, with bitcoin down nearly 3% to about $111,950 and ether falling below $4,000, shedding $150 billion from the crypto market due to the trade spat impact.

Futures fall as US-China trade tensions intensify

Dow Jones Industrial Average futures (YM=F) fell 0.6% to 46,019, while S&P 500 futures (ES=F) lost 0.9%. Nasdaq 100 futures (NQ=F) sank 1.2%, leading declines in premarket trading.

Markets turned cautious after China imposed sanctions on five US-linked units of Hanwha Ocean, a major South Korean shipbuilder. The move effectively bars Chinese firms from doing business with these units, signaling Beijing’s latest retaliation in the escalating trade dispute with Washington. Beijing’s action follows President Donald Trump’s recent tariff threats and efforts to assert control over global port fees — a new flashpoint in the trade war.

Earnings season kicks off amid market uncertainty

Attention now shifts to Wall Street’s major banks, with JPMorgan Chase (JPM), Citigroup (C), Goldman Sachs (GS), and Wells Fargo (WFC) set to report results Tuesday.

Analysts expect stronger profits from top US banks, which have rallied through much of 2025 despite high interest rate pressures.

However, the broader outlook remains clouded by the ongoing government shutdown, which has delayed key economic reports, including the September CPI inflation data, now rescheduled for October 24. Data on retail sales and producer prices are also expected to be postponed.

Fed speech in focus as data blackout continues

With crucial data unavailable, Federal Reserve Chair Jerome Powell’s speech at the NABE annual meeting on Tuesday will be closely watched for policy signals.

Markets are seeking clarity on how the Fed views the economy amid fiscal uncertainty and rising trade frictions. Investors hope Powell may hint at the timing of possible rate adjustments.

Critical mineral stocks soar in Australia amid US interest

As trade tensions escalate, Australian critical mineral stocks surged sharply Tuesday.

Resolution Minerals (RML.AX) jumped 56%, Nova Minerals gained 16%, and Australian Strategic Materials (ASM.AX) soared 66%, as the US seeks new supply chain partners outside China.

Bloomberg reported that Washington is exploring equity stakes in key Australian mining firms amid growing concerns over China’s rare earth dominance. President Trump and Australian PM Anthony Albanese are expected to discuss critical mineral cooperation next week in Washington.

Oil, dollar, and crypto under pressure

The US dollar index (DX=F) edged up 0.13% to 99.15, as risk appetite weakened and investors sought safety in the Japanese yen and Swiss franc.

Oil prices reversed early gains. Brent crude (BZ=F) fell 2% to $61.93, and WTI crude (CL=F) slipped 2% to $58.15, pressured by uncertainty over global demand.

Cryptocurrencies extended steep losses.

Bitcoin (BTC-USD) dropped nearly 4% to $111,950, while Ether (ETH-USD) slid 4% to $3,992, bringing the crypto market’s total loss to over $150 billion in 24 hours.

The selloff followed China’s latest sanctions and Trump’s threat of harsher tariffs. More than $19 billion in leveraged crypto positions were liquidated over the weekend.

Top U.S. stock futures gainers and losers for October 14:

Top Futures Gainers

• Broadcom surged nearly 10% after announcing a partnership with OpenAI to develop AI processors.
• Nvidia climbed about 2.8%, benefiting from renewed interest in AI-related tech stocks.
• Micron Technology jumped over 6%, also boosted by AI sector optimism.
• Electra Battery Materials Corporation (ELBM) soared an incredible 325.45% on Nasdaq.
• CuriosityStream Inc. (CURIW) gained over 300%.
• Solidion Technology, Inc. (STI) rose nearly 294%.

Top Futures Losers

• Tvardi Therapeutics, Inc. (TVRD) plunged 83.9%, marking the biggest drop.
• The Oncology Institute, Inc. (TOIIW) fell over 50%.
• Defiance Daily Target 2x Short RGTI ETF (RGTZ) dropped 50%.
• Enlightify Inc. (ENFY) and Allurion Technologies, Inc. (ALUR) also suffered losses close to 50%.

Silver hits record high amid liquidity squeeze

In commodities, silver (SI=F) surged to a record high above $52.50 an ounce, driven by a short squeeze and safe-haven demand.
Spot prices in London hit $52.58, surpassing the 1980 record set during the Hunt brothers’ silver corner attempt.

Gold prices also continued climbing, marking their eighth straight week of gains, as investors shifted to metals amid global volatility.

Ericsson shares jump after strong earnings

In Europe, Ericsson (ERIC) shares rose 14% in premarket trade after the telecom giant reported better-than-expected quarterly earnings, defying US tariffs.

The Swedish firm posted EBIT of 15.4 billion SEK ($1.62 billion) for the September quarter, beating forecasts of 14.1 billion SEK.

It also announced a five-year partnership with Vodafone to modernize network infrastructure.

As Wall Street prepares for the earnings deluge, sentiment remains fragile. Investors are bracing for more volatility as geopolitical tensions, delayed US data, and trade uncertainty collide.

All eyes now turn to Powell’s remarks and bank earnings, which could set the tone for markets in the weeks ahead.