American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead 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 world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread 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
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
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread 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
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
(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)
* Trump vows to slap more tariff on Chinese imports
* U.S. employment growth slows in July
* Tech leads slide among major S&P sectors
* NetApp tumbles after slashing forecast
* Indexes down: Dow 0.48%, S&P 0.57%, Nasdaq 0.85% (Updates to open)
Aug 2 (Reuters) - Wall Street's main indexes sank to one-month lows on Friday after a sharp escalation in U.S.-China trade tensions and tepid job growth in July reinforced fears of a global economic slowdown.
The Labor Department said nonfarm payrolls increased by 164,000 jobs last month and the economy created 41,000 fewer jobs in May and June than previously reported. However, July's numbers were in line with economists' expectations.
"Job numbers were not too far from expected. It shows the trend is slowing down. It's consistent with another rate cut either in September or October," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.
"The bigger issue for the Fed policy outlook is tariffs because that implies you will see higher costs for finished goods rather than intermediate goods that we have been importing from China."
The jobs report comes a day after President Donald Trump threatened to slap a 10% tariff on $300 billion of Chinese imports from next month, sending global markets tumbling overnight and investors fleeing to safe-haven U.S. Treasuries and the Japanese yen.
China on Friday said it would not be blackmailed and warned of retaliation.
Technology companies, which get a sizeable portion of their revenue from China, were the hardest hit, down 1.34%, weighed by iPhone maker Apple Inc and chipmakers.
The Philadelphia Semiconductor index slipped 1.06%, while shares of Apple fell 1.5%.
Boeing Co, the single largest U.S. exporter to China, fell 0.8% and Caterpillar Inc declined 0.6%.
The sudden escalation in trade rhetoric follows the Federal Reserve on Wednesday playing down expectations of further aggressive monetary policy actions after cutting interest rates for the first time in a decade.
Hopes that the Fed would be more accommodative to counter the impact of the bruising trade war had helped Wall Street's main indexes hit record highs last month. Fed funds futures implied traders were positioned for a 100% chance the central bank would reduce its target range on interest rates by a quarter point in September, CME Group's FedWatch program showed.
At 9:46 a.m. ET, the Dow Jones Industrial Average was down 128.15 points, or 0.48%, at 26,455.27, the S&P 500 was down 16.70 points, or 0.57%, at 2,936.86. The Nasdaq Composite was down 68.59 points, or 0.85%, at 8,042.53.
The defensive utilities sector rose 0.3%, while a surge in oil prices helped the energy sector eke out small gains.
The second-quarter earnings season is in full swing, with 74.4% of the 355 S&P 500 companies that have reported so far beating profit estimates, according to Refinitiv data.
NetApp Inc slumped 20.7% after the data storage equipment maker lowered its forecast for the first quarter and 2020, blaming a weakening macro environment.
Declining issues outnumbered advancers for a 2.24-to-1 ratio on the NYSE and for a 2.25-to-1 ratio on the Nasdaq.
The S&P index recorded four new 52-week highs and four new lows, while the Nasdaq recorded seven new highs and 76 new lows. (Reporting by Amy Caren Daniel and Medha Singh in Bengaluru; Editing by Anil D'Silva and Arun Koyyur)