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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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 stock markets rose then fell on Wednesday, as investors took cues from the whipsaw in U.S. market action.
The pan European Stoxx 600 Index closed provisionally down 0.06 percent on the day. Most individual bourses in Europe were traded lower, after a strong start on Wall Street faded. Before giving up gains, the Dow Jones industrial average jumped over 250 points in morning trade, on the back of strong earnings reports.
Looking at the corporate space, stocks showed a mixed to positive picture with the retail sector leading the pack, up over 1.5 percent as a whole. France's Carrefour topped Europe's benchmarks after an upbeat earnings report, which saw the retailer express optimism for its strategy plan going forward. Shares jumped nearly 7 percent.
Sticking with the sector, Ahold Delhaize popped over 3 percent after it reported fourth-quarter sales in line with analyst expectations. Elsewhere, Logitech jumped almost 6 percent on Wednesday, after JP Morgan upgraded its rating and price target on the stock.
On the opposite end of the STOXX 600, British lender Metro Bank tanked nearly 39 percent after it cautioned that its growth had softened in the final quarter. The weakness from Metro Bank added pressure to the FTSE 100, which under-performed fellow markets, falling almost 1 percent.
Meanwhile, shares of Deutsche Bank pared losses to trade higher in later trade, despite a report from Bloomberg stating that the U.S. Federal Reserve is investigating the German lender's role in a Danske Bank money laundering scheme. The bank has since responded to this, saying in a statement to Reuters that it's received requests for information from regulators and law enforcement agencies.
Investors continue to be somewhat cautious in Europe amid uncertainty over trade talks between the world's biggest economies, the U.S. and China, after reports emerged that the White House cancelled a trade planning meeting with Beijing. When asked for comment, the White House said to CNBC that "the teams remain in touch in preparation for high level talks with Vice Premier Liu He at the end of this month."
Elsewhere, officials from the Chinese finance ministry said Wednesday that Beijing will boost fiscal expenditure in 2019 to bolster the country's economy, Reuters reported.
Back in Europe, Brexit continues to dominate headlines and parliamentary debate in the U.K. At the World Economic Forum, British Trade Secretary Liam Fox said to CNBC that he believed that there was a "good chance" that the U.K. would secure an exit agreement with the European Union. Britain is scheduled to leave the bloc on March 29, 2019.