# China domestic demand

Global Risk-Off Sends Stocks Tumbling as Nvidia Loses Nearly $200bn; China Readies a Domestic-Demand Push

Global markets turned risk-off on renewed US tariff rhetoric, sending US indices sharply lower and erasing roughly $196 billion from Nvidia’s market value. Beijing signalled a policy pivot toward expanding domestic demand — including a 2026–2030 strategy and extended tax breaks for services — as geopolitical and market volatility complicate external growth prospects.