The world’s ten richest people lost a combined $69 billion on Friday as global markets plunged amid rising trade tensions between the United States and China. The sell-off followed President Donald Trump’s announcement of a 100 per cent tariff on Chinese imports starting 1 November, along with restrictions on Beijing’s access to ‘critical software’.In response, China imposed new export controls on rare earth elements: key materials used in advanced technologies like electric vehicles, semiconductors, and wi ...