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
Data showing a seventh straight monthly decline in U.S. business spending plans knocked the dollar lower on Friday and gave Federal Reserve policymakers even less reason to raise near-zero interest rates any time soon.
The euro backed away from a two-week high against the dollar after euro zone finance ministers told Greece it will get no more aid until it strikes a full economic reform plan.
U.S. non-defense capital goods orders excluding aircraft, a proxy for business spending activity, declined 0.5 percent last month after a revised 2.2 percent drop in February, the U.S. Commerce Department said. Economists had forecast core capital goods orders gaining 0.3 percent in March, according to a Reuters poll.
Friday's durable goods report followed lukewarm data on U.S. retail sales, employment and housing starts, which suggest soggy growth that could cause Fed policymakers to delay raising rates for the first time in nearly a decade until later this year.
"This puts more concern on the performance of the U.S. economy and adds to the pressure the dollar has experienced over the last month," said Sireen Haraji, currency strategist at Mizuho in New York. "Markets are concerned that this might postpone the Fed normalizing policy."
Yields on U.S. Treasury debt rose after the durable goods report.
The dollar index touched a near three-week low and was last down 0.4 percent for the trading day and off 0.60 percent for the week.
Against the yen, the dollar was off 0.60 percent at 118.87 yen.
was up 0.75 percent to $1.5172 after touching a five-week high against the dollar, despite assumptions that uncertainty ahead of next month's UK general election is a mounting risk for the pound.
The euro was last up 0.40 percent against the dollar at $1.0866, after touching a two-week high of $1.09, as lingering hopes that cash-strapped Greece was making progress toward securing fresh funding were dashed.
Jeroen Dijsselbloem, chairman of the euro zone finance ministers, said Greece still needs to deliver a list of reforms to receive funding, adding Athens needs to work faster and euro zone ministers will take stock of progress at the next meeting on May 11 in Brussels.
Similarly, EU Economics Commissioner Pierre Moscovici said that despite some progress in talks with Athens, a deal was still far off.