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US stocks fell after President Trump announced a potential "massive increase" in tariffs on Chinese imports. China's Commerce Ministry announced new export controls on rare-earth materials, essential for high-tech goods. Among others, Regional Banks companies First Citizens BancShares (NASDAQ:FCNCA) and Veritex Holdings (NASDAQ:VBTX) fell 2.7% and 2.8%, respectively. Veritex Holdings' shares were not very volatile, but the news is considered meaningful. The company's biggest move in the last year was a 19.4% gain after it was announced that it would be acquired by Huntington Bancshares (HBAN) in a $1.9 billion all-stock transaction.

U.S. stocks experienced a significant drop on Friday, October 10, 2025, following President Donald Trump's announcement of a potential "massive increase" in tariffs on Chinese imports. The announcement came in response to China's new export controls on rare-earth materials, which are crucial for high-tech goods Trump threatens 'massive' tariff hike on China over rare earths dispute^[1].

The stock markets reacted negatively to Trump's social media post, where he stated that there is "no way that" China "should be allowed to hold the World 'captive'" with its rare earth policy. Trump threatened to increase tariffs and cancel his upcoming meeting with Chinese President Xi Jinping due to the dispute Trump threatens 'massive' tariff hike on China over rare earths dispute^[1].

China's Commerce Ministry announced that foreign entities must now obtain a license to export products that contain more than 0.1% of rare earth sourced from China or are manufactured using Chinese extraction, refining, magnet-making, or recycling technology. This new rule is set to take effect on December 1, 2025 Trump threatens 'massive' tariff hike on China over rare earths dispute^[1].

The announcement of the tariffs and export controls has led to concerns about potential supply chain disruptions and escalating geopolitical tensions. Industries relying on rare earth materials, such as electronics, renewable energy, and defense, may face challenges in securing necessary components China Tightens Grip: New Export Controls on Rare Earth Equipment and Materials^[2].

Regional bank stocks, including First Citizens BancShares (NASDAQ:FCNCA) and Veritex Holdings (NASDAQ:VBTX), also experienced a decline. First Citizens BancShares fell by 2.7%, while Veritex Holdings dropped by 2.8%. Veritex Holdings' shares were not very volatile, but the news is considered meaningful, given the company's recent acquisition by Huntington Bancshares (HBAN) Huntington Bancshares (HBAN) Receives Regulatory Approval for Merger with Veritex Holdings^[3].

Veritex Holdings' biggest move in the last year was a 19.4% gain after it was announced that it would be acquired by Huntington Bancshares in a $1.9 billion all-stock transaction. Huntington Bancshares has received the necessary regulatory approvals for the merger, which is expected to close on October 20, 2025 Huntington Bancshares (HBAN) Receives Regulatory Approval for Merger with Veritex Holdings^[3].

The combined entity aims to enhance operational capabilities and market reach, potentially strengthening Huntington Bancshares' competitive position in the banking sector. Investors and stakeholders will be closely monitoring the integration process and the subsequent impact on the company's financial performance and market presence Huntington Bancshares (HBAN) Receives Regulatory Approval for Merger with Veritex Holdings^[3].

In conclusion, the announcement of potential tariff increases and new export controls on rare-earth materials has sparked significant market reactions, including a decline in U.S. stocks and regional bank shares. As the situation develops, further details on the specific materials and equipment affected, as well as the broader implications for global trade and technology sectors, are expected to emerge.