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
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
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
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
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia 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
Check out the companies making headlines midday Monday:
Boeing — Boeing shares dropped more than 4.5% after the editor of Chinese newspaper Global Times said China could single out the aerospace giant as the U.S.-China trade war continues. Earlier in the day, China decided it would hike tariffs on $60 billion worth of U.S. imports starting June 1.
ADT — ADT dropped more than 6% after Morgan Stanley downgraded the stock to equal weight from overweight. The investment bank also lowered its price target for the stock to $7 from $9. The analysts cited results from a survey which found homeowners have the same level of interest in do-it yourself security (DIY) systems as they do in ADT systems. Additionally, more consumers switched to DIY systems than expected.
Deere — Shares of Deere fell 6.3% after Baird downgraded the company to neutral from outperform. Baird said that the manufacturer's fundamentals have "weakened," and that the demand environment seems to be "deteriorating." Baird also gave Deere a new price target of $150.
Bed Bath & Beyond — Shares of Bed Bath & Beyond fell more than 4% after CEO Steven Temares stepped down, effective immediately. This comes amid a push from activist investors for the company to make changes. Newly appointed member of the board Mary Winston will serve as a temporary replacement for Temares until a permanent replacement is found.
Teva Pharmaceutical Industries, Mylan — The drugmakers' shares fell 14.8% and 9.4%, respectively, after 44 states filed a lawsuit alleging that pharmaceutical companies conspired to raise prices for more than 100 generic drugs.
Uber Technologies — Shares of Uber tanked more than 10% following a disappointing debut on the New York Stock Exchange on Friday. Monday's drop pushed the price to below $38 a share, much lower than the initial target range of $44 to $50 per share on the eve of its debut. Investors are wondering if Uber's fate will match that of its ride-hailing competition Lyft, who is down more than 30% since its IPO in March.
Tyson Foods — Shares of the food company fell less than 1%, outperforming the broader market, after an analyst at Stephens named it a "best idea," noting Tyson is "well positioned" while the valuation "remains compelling."