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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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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
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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
Snap's poor leadership is among the reasons the social media stock has tanked more than 50 percent since last year's initial public offering, CNBC's Jim Cramer said Wednesday.
"I don't even know what to say about Snap," Cramer said on "Squawk on the Street. " It's that bad."
Cramer's charitable trust owns shares of social network Facebook. Snap did not immediately respond to CNBC's request for comment.
Snap, parent of Snapchat, went public in March 2017 after being priced at $17 per share.
On Day One, the stock closed up 44 percent at $24.48 per share. But it quickly turned lower, with analysts flagging widening losses, slowing user growth and lack of voting rights for outside investors.
Problems at Snap arguably got worse when Facebook-owned Instagram rolled out features that were similar to Snapchat, including disappearing photos and videos as well as Instagram Stories.
Cramer said Wednesday that he has a particular problem with Snap's board, though the "Mad Money " host has been highly critical of Snap and the company's co-founder and CEO, Evan Spiegel, many times before.
In April, Cramer cautioned investors against buying Snap despite its app redesign, saying the company wasn't growing fast enough and its expenses were too high.
"These guys were spending money like a boatload of drunken sailors," he said at the time.
After Snap's post-earnings call in May, Cramer said he was unimpressed by the performance of the company's leaders, and compared the call to a "Saturday Night Live" sketch.
"I thought this was a 'Saturday Night Live' parody of a conference call," Cramer said on May 2, referring to the long-running NBC program. "I just didn't think it had anything like a real conference call."