The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
The potential deal would shift Neumann's already diminished voting power to the Japanese conglomerate, according to the Journal.Technologyread more
Hunter's vows to forgo any foreign work follow a slew of unsubstantiated attacks by President Donald Trump accusing him of corruption.Politicsread more
Fisher was initially defiant amid the backlash in an interview with Bloomberg, in which he said he had "given a lot of talks, a lot of times, in a lot of places and said stuff...Personal Financeread more
Airlines continue to delay when they plan to have the planes back again with no sign from regulators on when the planes will be approved again.Airlinesread more
Turkey's invasion of northeastern Syria began Wednesday after Trump ordered U.S. troops to pull back from the area.Politicsread more
While Warren's ad about Facebook isn't true, the company's own policy allows politicians to make such false claims in paid advertising.Politicsread more
Typhoon Hagibis made landfall south of Tokyo on Saturday evening. By Sunday around 376,000 homes were left without electricity, and 14,000 without running water across Japan....Weather & Natural Disastersread more
SpaceX and Boeing are each in the final stages of developing the spacecraft needed for the U.S. to once again fly astronauts.Investing in Spaceread more
Bryn Mawr's Jeffrey Mills believes the market needs more time to break out of its slump.Trading Nationread more
Federal Reserve Chairman Jerome Powell said exchange-traded funds were not the main reason behind the market decline earlier this year.
"We looked after the volatility came and then subsided. We looked carefully to try to understand really what did happen, and it seems like the markets were generally orderly through almost all of that time," Powell said Tuesday in response to a question during his testimony to the House Financial Services Committee.
"ETFs are a particular form of fund, and I don't think they were particularly at the heart of what went on, on those days," Powell said.
The S&P 500 fell officially into correction territory in early February, down more than 10 percent from its record reached in January. After the decline, the benchmark pared more than half its losses in recent weeks.
Traders blamed the sell-off on increasing worries about rising inflation and the prospect for a faster pace of interest rate hikes by the Federal Reserve. The U.S. 10-year Treasury yield, which moves inversely to bond prices, had climbed to a four-year high of 2.95 percent earlier in the month after the strong January jobs report.
But certain securities that resemble ETFs — exchange-traded notes — got some of the blame for the correction as well. Traders argued that popular ETNs tracking the Cboe volatility index caused additional volatility in the markets, making the sell-off worse.
One particular ETN, the VelocityShares Daily Inverse VIX Short-Term ETN, had to be shut down by Credit Suisse after losing most of its value in one session during the market pullback.
Powell didn't specifically mention these products in his testimony.
He said the Fed is working with other government agencies to further investigate whether ETFs overall pose a risk to the financial system.
"But it's something we're talking to our fellow agencies [about], particularly the SEC, I think, would be best positioned to look at this. It's a question we're looking into," he said.