Over the longer term, the outlook for the U.S. rare-earth industry is good. Trump is keen on securing domestic supplies and working with U.S. allies to eliminate the Chinese threat forever. “In a short period of time, we’ll have everything we need for ourselves,” Trump said.

Nvidia and other technology stocks are propping up Wall Street. The S&P 500 rose 0.3% Monday, even though the majority of stocks within the index were falling.