"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
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
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them find alternatives to their Chinese operations.Marketsread 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
self-defensive " - KCNA@ (Adds quotes, details, U.S. envoy in Seoul)
SEOUL, May 8 (Reuters) - Last week's "strike drill" in which North Korean leader Kim Jong Un oversaw the launch of rockets and at least one short-range ballistic missile was "regular and self-defensive," the North's foreign ministry said on Wednesday, according to state media.
"The recent drill conducted by our army is nothing more than part of the regular military training, and it has neither targeted anyone nor led to an aggravation of the situation in the region," an unidentified ministry spokesperson said in a statement to the state-run KCNA news agency.
Saturday's drill was the first test of a ballistic missile by North Korea since it launched a long-range intercontinental ballistic missile in November 2017.
It came in the wake of talks with the United States and South Korea stalling in February, and raised alarms in both countries, which have been seeking to entice the North into abandoning its nuclear weapons and ballistic missile programmes.
Seoul responded on Saturday by calling on its northern neighbour to "stop acts that escalate military tension on the Korean Peninsula."
But U.S. President Donald Trump, who has met with Kim twice, said he was still confident he could have a deal with Kim, and South Korean officials have also played down the test.
North Korea hit back at "spiteful remarks" about the tests from unnamed critics, warning that "baseless allegations" might "produce a result of driving us to the direction which neither we nor they want to see at all."
The spokesperson said there was a double standard, with South Korea and the United States carrying out military drills with little criticism.
"Only our regular and self-defensive military drill is branded as provocative, and this is an undisguised manifestation of the attempt to press the gradual disarmament of our state and finally invade us," the spokesperson said. "We think this is very much unpleasant and regrettable, and we sound a note of warning."
After meeting with Kim for the first time in June last year, Trump abruptly announced he was cancelling all large-scale military exercises with South Korea.
Smaller exercises have continued, however, drawing regular criticism from Pyongyang.
North Korea had maintained a freeze in nuclear and ballistic missiles testing in place since 2017, a fact Trump has repeatedly pointed out as an important achievement from his engagement with Pyongyang.
Denuclearisation talks with North Korea have stalled, however, after Trump and Kim met in February for a second summit but failed to reach an agreement.
North Korea balked at the extent of the demands made by American negotiators, and Trump said he ended the summit early because Kim was asking for nearly all major sanctions to be lifted while offering little in return.
The U.S. special envoy for North Korea, Stephen Biegun, arrived in Seoul on Wednesday for talks with South Korean officials.
He did not respond to questions from journalists, but his agenda is expected to include the missile test, as well as other aspects of talks with North Korea, including plans for possible humanitarian aid. (Reporting by Josh Smith; Editing by Clarence Fernandez and Hugh Lawson)