"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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Yields slipped after Powell said that the central bank will continue to act as appropriate to sustain the economic expansion.Bondsread 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 president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
Semiconductor stocks and shares of Apple slid on Friday after President Donald Trump said U.S. companies should "immediately start looking for an alternative" to their...Technologyread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
Singapore's exports recorded their worst decline in more than two years in December as shipments of electronics and pharmaceuticals plunged, official data showed on Thursday.
The unexpected decline comes despite ongoing trade talks between the United States and China to defuse trade tensions. Many economists expect the dispute to hurt trade-dependent Singapore in months to come.
Non-oil domestic exports in December fell 8.5 percent from a year earlier, data from the trade agency Enterprise Singapore showed, slowing further from a revised 2.8 percent decline the month before.
The outcome was well below a 1.5 percent increase predicted by economists in a Reuters poll and the worst performance since October 2016, when exports declined 14 percent year-on-year.
"This could show that U.S.-China trade talks have become a ruse, falling in line with disappointing China trade data," Selena Ling, head of treasury research and strategy at OCBC, told Reuters. "There is a likelihood that (export fall) will continue into the first quarter."
Earlier this week, China announced that its December exports unexpectedly fell 4.4 percent from a year earlier, the biggest monthly drop in two years, pointing to further weakening in the world's second-largest economy.
On a seasonally adjusted month-on-month basis, the city-state's exports contracted 5.7 percent in December after declining a revised 4.3 percent in November. The poll forecast a 2.1 percent expansion from the month before.
Electronic exports in December fell 11.2 percent from a year earlier, after a brief recovery in November when it rose 4.3 percent.
Pharmaceutical exports plunged 26.8 percent in December year-on-year after rising 7.3 percent the month before.
Earlier this month, Singapore announced that its economy grew more slowly than forecast in the fourth quarter after the manufacturing sector shrank, adding to jitters that the Sino-U.S. trade dispute will drag on growth in 2019.
ING said in a report it was difficult to pin the export decline on any single geopolitical factor such as the trade war as exports to both China and the United States had held up. But shipments across Asia were noticeably in the red and the trade data almost certainly means a downward revision to GDP, it said.
December exports to China and the United States grew 15.4 percent and 31.1 percent year-on-year, respectively.