President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Such an event, if it materializes, will be "detrimental to the world," said Jose Vinals, group chairman at Standard Chartered Bank. His comments came as rivalry between the world's two largest economies extend into areas beyond trade such as technology and global influence.
"Something that I think will be detrimental to the world is if we were to move from the present state ... to a sort of bifurcation of globalization," Vinals told CNBC's Nancy Hungerford at the Institute of International Finance's spring meeting in Japan.
He explained that some countries and companies may start "doing more business and operating in the half of the world which is globalized along the western line," while the other half may work "in the part which is globalized along the eastern line."
"I hope it's not (going to happen) but this is something which is a more likely prospect now than it used to be a few years ago. And I think it's a very adverse reality if it eventually materializes," he added.
Vinals is not the only business executive who has warned of a potential split in the world because of the rivalry between Washington and Beijing. Late last year, former Google CEO Eric Schmidt predicted there would be two distinct internets within the next decade: one led by the U.S. and the other by China.
The U.S. and China have engaged in a year-long tariff fight that many analysts and investors hoped could be resolved some time this year. But developments and escalating rhetoric from both sides in recent weeks have dimmed those hopes.
U.S. President Donald Trump raised tariffs on $200 billion worth of Chinese imports last month, which led to Beijing retaliating with its own set of levies. High-level negotiations for a trade deal between the two countries have since halted.
Adding to the conflict, Washington placed Huawei on a blacklist that limits U.S. companies from doing business with the Chinese tech giant.
Those recent developments indicate that it's become harder for Washington and Beijing to reach a deal — a "marked" change from the optimism seen a few months ago, noted Vinals.
"It is very hard to know what will happen," he said. "I think that what we have seen is a marked shift in the past couple of months of the mood. Two months ago, everybody was thinking: 'There is going to be a deal.' Now, expectations are: 'It's going to be very hard for a deal to be there.'"
— CNBC's Sam Meredith contributed to this report.