Nasdaq-100 losses widened to 2%; S&P 500 down more than 1%.

On Oct. 22 MOFCOM Market Operation and Consumption Promotion Director Yang Mu told a State Council press briefing that final consumption expenditure has accounted for an average 55% of China’s annual GDP growth since the 18th Party Congress. He said total retail sales of consumer goods reached 50.1 trillion yuan in 2025, 2.4 times the 2012 level, and have expanded at an average 7.1% a year since the 18th Party Congress.

China domestic futures main contracts closed mixed in the morning session: caustic soda and apples fell over 4%, palladium down nearly 4%; platinum, lithium carbonate, coke, Shanghai silver, alumina and glass fell more than 2%. On the upside, styrene (EB) rose over 2%, while methanol and stainless steel (SS) were up nearly 2%.