US-listed Rare earth stocks sank in overnight trading. United States Antimony fell 13%; American Resources and Trilogy Metals fell 8%; USA Rare Earth fell 7%; Critical Metals fell 6%; MP Materials, Ramaco Resources, and Idaho Strategic Resources fell 3%; Energy Fuels, NioCorp Developments, and The Metals Company fell 2%.

Top Chinese and U.S. economic officials on Sunday hashed out the framework of a trade deal for U.S. President Donald Trump and Chinese President Xi Jinping to decide on later this week that would pause steeper American tariffs and Chinese rare earths export controls, U.S. officials said.

U.S. Treasury Secretary Scott Bessent said talks on the sidelines of the ASEAN Summit in Kuala Lumpur had eliminated the threat of Trump's 100% tariffs on Chinese imports starting November 1. Bessent also said he expects China to delay implementation of its rare earth minerals and magnets licensing regime by a year while the policy is reconsidered.

Chinese officials were more circumspect about the talks and offered no details about the outcome of the meetings.

Trump and Xi are due to meet on Thursday on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, to sign off on the terms. While the White House has officially announced the highly anticipated Trump-Xi talks, China has yet to confirm that the two leaders will meet.

Meanwhile, The United States signed a flurry of deals on trade and critical minerals with four Southeast Asian partners on Sunday, looking to address trade imbalances and diversify supply chains amid tighter export curbs on rare earths by China.

Beyond Meat shares tumbled another 16% in overnight trading, as the meme stock rally faltered.