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
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
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
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
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Digital currency ethereum climbed Monday to a near two-month high amid renewed uncertainty about the future of bitcoin.
Ethereum traded about 10 percent higher near $330 Monday afternoon, after earlier rising 15 percent to $347.05, its highest since June 23, according to CoinMarketCap. At its session high, the site's data showed ethereum had gained 70 percent for the month and more than 4,000 percent for the year.
"I think the gains in ethereum are part of the market's reaction to the increasingly fractured bitcoin community," said Benjamin Roberts, co-founder and CEO of Citizen Hex, an ethereum-focused start-up backed by three Canadian venture funds.
Ethereum 7-day performance
traded more than 1 percent lower near $4,055.88, according to CoinDesk, well off a record high of $4,522.13 hit last Thursday. Even with the last few days' decline of about $500, bitcoin remained about 40 percent higher for August and more than quadruple in value for the year.
The decline in price came as digital currency enthusiasts have increasingly focused on the potential of an upgrade proposal called SegWit2x to split bitcoin again in November, just months after its Aug. 1 split into bitcoin and bitcoin cash.
Bitcoin cash traded 15 percent lower near $603, down more than $450 from Saturday's record high of $1,091.97, according to CoinMarketCap. The bitcoin offshoot still held gains of nearly 200 percent from a low of $210 hit on the day of the split Aug. 1.
Meanwhile, investors gained more confidence in a smooth upgrade for ethereum's network, a proposal called "Metropolis" expected in the next several weeks that should improve transaction privacy and efficiency.
Other factors contributing to ethereum's gains Monday included steady demand from South Korean investors and news that London-based online trading company IG also launched support for trading ethereum on Monday.
Trade in South Korean won accounted for about 30 percent of trading in ethereum, according to CryptoCompare. Bitcoin accounted for nearly 29 percent and the U.S. dollar about 25 percent, the site showed.
Traders were also using bitcoin to buy digital currencies such as Monero, a cryptocurrency focused on making transactions confidential and untraceable.
According to CoinMarketCap, Monero surged more than 70 percent Monday to a record high of $95.08, marking gains of nearly 140 percent for the month.