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
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
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
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
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
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia 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
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
PPG shares plummeted more than 10 percent Tuesday, a day after the industrial coating manufacturer warned that it is getting hurt by rising costs from raw materials and oil.
PPG's guidance for its upcoming third quarter earnings report was about 10 cents a share weaker than expected, according Wall Street analysts polled by Thomson Reuters.
The 135-year-old PPG is one of the world's largest manufacturers and distributors of coatings and specialty materials, with a market capitalization of about $26 billion. Due to PPG's size and the breadth of other sectors it supports, the company is seen as a corporate barometer for the health and direction of the global economy.
"During the quarter, we saw overall demand in China soften, and we experienced weaker automotive refinish sales as several of our U.S. and European customers are carrying high inventory levels due to lower end-use market demand," Chairman and CEO Michael McGarry said in a statement Monday.
The plunge in share prices Tuesday was the biggest in nine years.
McGarry said PPG is "disappointed with the third quarter earnings results," which the company now expects to be in the range of $1.47 a share to $1.51 a share. PPG is expected to report its final third-quarter earnings on Oct. 18.
Rising materials, freight and oil costs were listed as contributing factors for PPG's weak quarter.
"We experienced the highest level of cost inflation since the cycle began two years ago," McGarry said.
PPG expects to increase the average global price by 10 percent on products it sells to automotive equipment manufactures, beginning Nov. 1. The company said this price change is a response to the rising costs.