American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead 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
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
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
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US 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
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
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
European shares closed lower on Friday, after St. Louis Fed President James Bullard said the U.S. central bank could taper its $85-billion-a-month bond-buying program in October.
The FTSEurofirst 300 Index closed provisionally 0.2 percent lower at 1,263.0, with European shares pushed down by investors taking profit, although they continued to hover around five-year highs. The U.K. FTSE closed down 0.4 percent, the German Dax closed down 0.2 percent and the French Cac closed up 0.1 percent.
Bullard emphasized in an interview with Bloomberg the role that economic data has played, and will continue to play in Fed decisions
"This was a close decision here in September," he told the network.
Europe stocks started the day in negative territory, bringing an end to the broad rally which started after the Federal Reserve surprised markets by opting to maintain its $85 billion-per-month asset purchases. However, Bullard's comments on Friday backed up the belief that the Fed still plans to taper soon.
In Europe, German voters are preparing to go the polls in Sunday's general elections. The current chancellor, Angela Merkel, is expected to win a third term in office, but the future composition of the governing coalition remains unclear. It is possible that Merkel might have to form an alliance with the rival Social Democrats party (SPD).
In Asia, Indian equities led the region lower on the final trading day of the week, after the Reserve Bank of India (RBI) unexpectedly raised interest rates. India's Sensex index closed down 1.8 percent, Japan's Nikkei index ended just below the flatline and Australia's S&P ASX 200 fell off the previous day's five-year high.
(Read More: India unexpectedly hikes rates, shares tumble)
Elsewhere, die-hard Apple fans in Asia and Europe lined up outside stores for the launch of the tech firm's latest handsets. At the biggest Apple store in Asia, in Beijing, several security guards kept the line in order to avoid a repeat of the egg-throwing that marred a previous launch. Demand for the iPhone 5S in gold was keen, with the 5C seeing little interest. Shares of Apple climbed during the day.
(Read More: Panned new iPhones still draw die-hards at launch)