President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
The tech-heavy Nasdaq fell Thursday after disappointing quarterly results from Facebook sent the social media giant tumbling to its largest one-day loss ever.
The Nasdaq Composite dropped 1 percent to finish at 7,852.18, led by a steep decline in the social media giant. Facebook posted the largest one-day loss in market value by any company in U.S. stock market history after the report, losing more than $119 billion in market value.
The Invesco QQQ Trust, which tracks the Nasdaq 100 index and can give traders a good idea of how the Nasdaq stocks will trade, closed more than 1.5 percent lower, and the Nasdaq 100 index ended up .8 percent lower.
Facebook's "FANG" brethren were also down. Amazon, which reported better-than-expected earnings after the bell Thursday, lost roughly 8 percent. Netflix, which disappointed FANG investors with its own set of weak results earlier this earnings season, closed slightly higher.
Investors did not see this coming. The Nasdaq Composite index hit a record during trading Wednesday as investors crowded back into the FANG names once again. Facebook was responsible for a lot of that boost, jumping 1 percent during regular trading.
But after the bell it was a different story.
Facebook posted weaker-than-expected daily active users for last quarter and said revenue growth would decline sequentially in the second half of this year.
"The Facebook guidance debacle will be a tough pill to swallow for the bulls and weigh on FANG names as this comes on the heels of a Netflix miss as well last week," said Daniel Ives, head of technology research at GBH Insights. "Facebook’s outlook will cause worries on the Street and that could spread to other names with stock multiples coming under attack. Facebook’s nightmare guidance will spook tech investors with a near term white knuckle period ahead."
With Facebook's previous biggest drop was a 12 percent fall in July 2012 shortly after it went public.
The broader market was on sounder footing on Thursday. The SPDR S&P 500 ETF Trust finished the day down just 0.2 percent. Investors were likely encouraged by President Donald Trump's comments following his meeting with European Commission President Jean-Claude Juncker that hinted that a trade deal between the U.S. and European Union was possible.
— Kate Rooney contributed to this report.