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
"The probability of a dollar breakout is very big. So, if that happens, then the chances of the dollar moving much more rapidly than we've seen for many, many years, and that would lead oil to go much further," he said. "So, prices in oil could go down to $30, $40 easily if the dollar moves in the way that I'm thinking it possibly will."
dipped below $81 per barrel for the first time in four years. Meanwhile West Texas Intermediate crude clocked in at $77.48 per barrel.
On CNBC's "Fast Money, " Pal said that oil also faces downward price pressures from oversupply and slowing demand.
"In addition, you've got the biggest-ever position in the commodity in history, I think six standard deviations above its mean was the long positioning in oil," he said. "Then you put that into context with the dollar rally, and commodities tend to act the opposite to the dollar, so if the dollar rallies, oil falls."
Pal said that a continued rally in the U.S. dollar could set off a chain reaction through emerging markets, citing similar events in the 1980s and mid-1990s, where EM fell 50 percent.
"So, the imbalance of that whole situation takes time to play out, and it can be quite risky," he added.