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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread 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
"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
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
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
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
European equities closed lower on Monday on the back of a sell-off in tech stocks and higher oil prices.
The pan-European Stoxx 600 ended provisionally lower by 1.00 percent with almost every sector in the red. The tech sector was the worst performer, down by almost 3.58 percent. SAP was down 5.52 percent after making a deal to buy Qualtrics for $8 billion.
Shares of Austrian chipmaker AMS tumbled 22.41 percent after other suppliers to tech giant Apple cut their forecasts. The German-listed Infineon also shed value following demand fears, losing 7.31 percent during the session.
On the other hand, oil and gas stocks were the top performers on Monday, up by more than 0.24 percent. At the weekend, Saudi Arabia announced a cut in supply for December in a bid to halt a recent slump in prices. At the closing bell, Brent had risen 1.27 percent to trade at $71.07 and WTI was up by 1.11. percent at $60.88.
BP and Royal Dutch Shell were up 0.80 percent and 0.71 percent respectively after the crude oil price recovery.
By the close the FTSE 100 was provisionally down 46 points or 0.65 percent, at 7,105.
In other stock news, Telecom Italia rose toward the top of the benchmark, up by 2.79 percent by the close. This was after news that it could merge with its domestic rival Open Fiber. British American Tobacco dropped 10.62 percent after news of a potential ban on menthol cigarettes in the U.S.
In the U.K., Prime Minister Theresa May was reportedly forced to drop plans for an emergency Brexit cabinet meeting on Monday due to resistance in her own government, the Independent reported. According to the Sunday Times, four government ministers who are pro-European are on the brink of resigning. All eyes are now on a cabinet meeting scheduled for Tuesday.
Ben Broadbent, deputy governor of the Bank of England, told CNBC Monday that the next two to three months will be critical for the future of the U.K. economy.
"The sequence of events over the next two to three months could change the outlook materially," Broadbent said.