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
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
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
Bank of England Governor Mark Carney says trade war has a confidence effect on business around the worldMarketsread more
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
Investors betting on a strong pickup in economic growth might want to consider a new forecast hitting Wall Street on Monday.
The New York Federal Reserve now expects U.S. economic growth at an annualized rate of 1.9 percent for the second quarter, down from a 2.3 percent forecast. The bank also expects annualized growth of 1.5 percent in the third quarter, down from 1.8 percent.
The U.S. economy grew at a dismal annualized rate of 1.2 percent in the first quarter.
To be sure, the New York Fed's forecast is an outlier to more bullish estimates. For instance, the Atlanta Fed still expects second-quarter GDP to grow by 2.9 percent, while CNBC's Rapid Update survey is tracking second-quarter growth at 2.8 percent.
Wall Street has been closely watching the U.S. economy as the Fed seems determined to raise interest rates once more this year and start unwinding its $4.5 trillion balance sheet before 2017 ends.
"The uncertainty surrounding this unprecedented decision will source a stiff headwind in the face of the economy which has yet to simmer," Jeremy Klein, chief market strategist at FBN Securities, said in a note Monday, referring to the balance-sheet reduction.
The central bank raised rates last week for the second time this year and maintained its forecast of three total rate hikes for 2017.
Still, investors are not convinced the Fed will be able to hike once more this year. Market expectations for a rate hike thie year are below 50 percent, according to the CME Group's FedWatch tool. The data also showed a rate hike isn't priced in until next March.
"I reiterate that larger institutions, which do not have the ability to manage their positions nimbly, should start to rein in some of their effusiveness," Klein said.
A stronger economy is also making it less crucial for President Donald Trump and Congress to pass tax reform this year.