The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Tilman Fertitta told CNBC on Monday that he is doing things in a "very conservative way" amid fears of a recession.Marketsread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC on Monday.Marketsread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Stasior left Apple earlier this year. Prior to his time in charge of Siri, he was a top executive at Amazon.Technologyread 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 0.76%, S&P 0.88%, Nasdaq 1.44% (Changes comment, updates prices)
Aug 2 (Reuters) - U.S. stocks tumbled to a one-month low on Friday after a sharp escalation in U.S.-China trade tensions and a tepid July jobs report renewed fears of slowing economic growth and raised bets of further interest rate cuts this year.
President Donald Trump on Thursday threatened to slap a 10% tariff on $300 billion of Chinese imports from next month, sending global markets tumbling and investors fleeing to safe-havens like U.S. Treasuries and the Japanese yen.
China on Friday said it would not be blackmailed and warned of retaliation.
"The tariff threat was a splash of cold water, the market had became accustomed to the current state of U.S-China trade negotiations, but a hike in tariffs wakes you up to the fact that the trade war is still with us," said Michael Antonelli, market strategist at Robert W. Baird in Milwaukee.
"If the trade war rhetoric is going to continue to ramp up, then the Fed is going to have to continue to fight that with monetary policy."
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.
Technology companies, which get a sizeable portion of their revenue from China, were the hardest hit, down 1.88%, weighed by iPhone maker Apple Inc and chipmakers.
The Philadelphia Semiconductor index slipped 1.61%, while shares of Apple fell 2.4%.
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. Traders of short-term interest-rate futures are now pricing in an about 80% chance of a rate cut next month, and an about 70% chance of a further reduction in December, according CME Group's FedWatch tool.
At 11:18 a.m. ET, the Dow Jones Industrial Average was down 201.88 points, or 0.76%, at 26,381.54, the S&P 500 was down 26.02 points, or 0.88%, at 2,927.54. The Nasdaq Composite was down 117.00 points, or 1.44%, at 7,994.12.
The S&P 500 slipped below its 50-day moving average, a closely watched indicator of short-term momentum, during the session.
The defensive real estate, utilities, and consumer staples sectors were the only S&P sectors trading higher.
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 21.1% 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 2.51-to-1 ratio on the NYSE and for a 2.96-to-1 ratio on the Nasdaq.
The S&P index recorded eight new 52-week highs and 10 new lows, while the Nasdaq recorded 12 new highs and 144 new lows. (Reporting by Amy Caren Daniel in Bengaluru; Editing by Anil D'Silva and Arun Koyyur)