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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread 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
"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
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
Bank of England Governor Mark Carney says trade war has a confidence effect on business around the worldMarketsread more
The digital coin hit an intraday high of $11,307.69 around 5:30 a.m. HK/SIN Monday, according to Coindesk's Bitcoin Price Index, which takes into account the price of the cryptocurrency across various exchanges. That's the highest level since March 5, 2018. Bitcoin had pared some of those gains and was trading at around $10,624.10 at 10:05 a.m. HK/SIN Monday.
Investors appear to be shrugging off some of the memories from the burst of the bitcoin bubble after it hit a record high of over $19,000 in December 2017. The price of the cryptocurrency came crashing down over the course of 2018 and into the start of 2019 where it fell to the low-to-mid $3,000 mark.
But since late February, bitcoin has been marching higher again, as major companies began to announce cryptocurrency-related projects. Fidelity rolled out a cryptocurrency custody and trade execution operation in March. But it was perhaps news of Facebook's Libra cryptocurrency that helped boost bitcoin.
"The price surge is due to two major factors, one is an increasing consensus among the investment community that bitcoin is a legitimate store of value for the digital age, and two Facebook's Libra cryptocurrency launch has forced every CEO to take crypto seriously," Jehan Chu, co-founder of Kenetic Capital, an investor in blockchain start-ups told CNBC.
Blockchain is the underlying technology behind bitcoin. Facebook's project has however faced many questions from politicians and central bankers who are keeping a close eye on its development.
Bitcoin is now up more than 170% this year. The rise of bitcoin has also helped lift the price of other digital coins like ethereum which has more than doubled this year.