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
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Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
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"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
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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
Increased trade tensions with China will likely affect semiconductor stocks and two casino and hotel operators the most, according to Morgan Stanley analysis of companies most dependent on China for revenue.
Wynn Resorts draws 69 percent of its revenue from China, the greatest exposure among U.S. companies larger than $3 billion, according to analysis from Morgan Stanley Equity Strategist Michael Wilson and his team.
Las Vegas Sands ranks third, with 65 percent revenue exposure, according to the study, published Tuesday.
The U.S.-China trade dispute escalated Friday with the Trump administration announcing tariffs on $34 billion worth of Chinese goods that will take effect July 6. Beijing quickly responded with its own list of U.S. goods worth about the same amount that will also be subject to tariffs on July 6.
U.S. stocks fell Friday amid concerns about a trade war.
By industry, semiconductor and semiconductor equipment companies have the highest revenue exposure to China at 52 percent, the report said. Chipmaker Qualcomm ranked second on the list of individual companies most exposed to China, at 65 percent.
Energy and technology hardware and equipment have 14 percent revenue exposure to China, according to Morgan Stanley.
Source: Thomson Reuters, Morgan Stanley Research Estimates