American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead 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
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
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
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
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
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
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Cryptocurrencies are nearing the end of the road, and it's time to do away with the digital coins, UBS Gobal Wealth Management's chief economist said.
"These things were never going to be currencies. They're not going to be currencies at any point in the future," he said Thursday on CNBC's "Fast Money." "They're fatally flawed."
Bitcoin received lots of love during the 2017 holiday season when it began rallying to nearly $20,000. But Donovan was skeptical then, warning that it could be "destructive" in the long term.
"Right from the start of the hike in late last year, it was fairly obvious that this was going to end badly, unfortunately, for some of the people who weren't protected by any kind of regulation and got sucked into the process," he told CNBC.
After peaking, bitcoin is now trading around $4,330. Overall, the cryptocurrency market has lost about $700 billion since reaching highs in January.
Donovan thinks the cryptocurrency could be in its "death throes" because losing 80 percent value "is not healthy." Government, he said, is "one of the main obstacles" to bitcoin, adding the idea of digital currency replacing the dollar "is quite a leap."
"The main problem with these things, the absolute fundamental flaw, is that they're never going to be a store of value," he said. "Every economist knows the store of value is about balancing supply and demand, and with cryptocurrencies, you cannot control the supply in response to the drop in demand."