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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread 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
"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
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
Epstein, 66, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in early July as he stepped off his private plane at an airport in...Politicsread more
Lowe's is vying for a category of customer that Home Depot has traditionally dominated — the professional contractor.Retailread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Yields slipped after Powell said the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
European stocks closed just above the flatline, up 0.16, as investors monitored political events and took a cautious approach ahead of key data releases.
The pan-European Stoxx 600 ended the day's trading 0.16 percent higher with sectors pointing in different directions at the close. Overseas, Wall Street posted gains around the European market close, with stocks hitting record highs during early trade.
Construction and material stocks were among the worst-performing sectors in afternoon trade following news that the CEO of Assa Abloy is considering stepping down. Shares of the Swedish company fell nearly 5 percent as a result, and hit the bottom of the European benchmark by the close.
Spanish stocks bounced back at Thursday's close with the IBEX 35 finishing up around 2.5 percent after news emerged that Spain's Constitutional Court has suspended a session of the Catalan Parliament due to take place Monday. During this, political leaders were expected to declare Catalonia's independence from Spain.
The stock market has seen a significant sell-off since the start of the week on political concerns. The national government has asked the region to return to the path of law, according to Reuters.
Banco Sabadell and Caixabank closed as the Stoxx 600's top two performers, up 6.16 percent and 4.93 percent respectively. This followed reports that both banks were considering moving their offices from Barcelona.
Meanwhile, utilities popped over 1 percent, having recovered from the previous session as traders shift their focus from caps on energy bills to growth prospects. EDF rose 3.29 percent after a rating upgrade on supportive regulation and higher carbon prices.
Auto stocks closed largely flat. This came after lower new car sales figures in the U.K. Data showed Thursday a drop of 8.8 percent on the year in new registrations in September.
"Car sales remain well below last year's levels, as the inflation-driven squeeze on real incomes makes households reluctant to make major financial commitments," Samuel Tombs, chief U.K. economist at Pantheon Macroeconomics, said in an email.
Brent crude was trading up $1.11, or 2 percent around the close. Prices rose on expectations that Saudi Arabia and Russia would extent the current agreement to curb production.
In the corporate world, Siemens has concluded the sale of the last 17 percent stake in Osram Licht for 1.2 billion euros ($1.4 billion). The latter remained under pressure, down over 4.5 percent in trade.