Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar panels ignited at an Amazon warehouse in Redlands, California in June 2018, Bloomberg reports. The news comes days after Walmart sued Tesla for at least 7 fires...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
European stocks closed at five-year highs on Monday, boosted by the news that Larry Summers had withdrawn his name from the race to succeed Ben Bernanke as chairman of the U.S. Federal Reserve. Global shares and bonds rallied as as result.
The pan-European FTSEurofirst 300 closed provisionally higher, after peaking at 1,262.25 in intraday trade, its highest level since mid-2008. The FTSE 100 unofficially closed up 0.6 percent, the French Cac closed up 0.9 percent and the German Dax closed up at 1.2 percent, an all-time closing high.
Summers, who is thought to be more hawkish than Bernanke, and more likely to curb the Fed's economic stimulus policies, was believed to be the frontrunner for the Fed job. He was previously one of the most important economic advisers to U.S. President Barack Obama's regime.
Janet Yellen, currently Bernanke's second-in-command, has emerged as the leading candidate following Summers' statement that he was removing his name from the list to avoid an "acrimonious" confirmation process. Yellen is perceived in the market as more likely to continue Bernanke's growth-focused policies.
Asian markets rose in early trading on Monday, before paring some of their gains as concerns about the Fed's policy meeting on Tuesday and Wednesday crept in. The U.S. dollar fell against the yen and other Asian currencies.
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