Wall Street has tanked after US President Donald Trump rattled markets by unleashing a string of bellicose threats against China after Beijing tightened its rare earth restrictions.

In a post on Truth Social, Trump said he is weighing a "massive" tariff increase on Chinese imports and said there is no reason to meet with China's President Xi Jinping in two weeks as planned, adding there are "many other countermeasures" under consideration.

The tirade shocked markets and threatened further damage to already strained relations between the world's two largest economies.

All three major US stock indexes sold off sharply on Friday in the wake of Trump's remarks. The S&P 500 and the Nasdaq suffered their largest single-day percentage drops since April 10.

On a weekly basis, the S&P 500 logge

See Full Page