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
Tesla solar panels ignited at an Amazon warehouse in Redlands, California in June 2018, Bloomberg reports. The news comes days after Walmart sued Tesla for at least 7 fires...Technologyread 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
Treasury yields fell on Friday after President Donald Trump said he would slap additional tariffs on Chinese goods next month, reigniting fears of a prolonged trade war between the world's largest economies.
The benchmark 10-year yield fell to 1.867% and hit its lowest level since November 2016 earlier in the day. The 30-year bond rate slid to 2.406%.
On Thursday, Trump said an additional tariff of 10% would be imposed on $300 billion worth of Chinese goods. The levy will take effect from September 1. As a result, investors are rushing into safe haven assets.
China and the U.S. have been engaged in a trade war since last year. The conflict has raised concern over slowing economic growth and diminishing corporate profits.
Gregory Faranello, head of U.S. rates at AmeriVet Securities, pointed out in a note Friday that expectations for a rate cut in September surged following the announcement.
"The trade war has intensified," he said. "The Fed will not explicitly underwrite Potus' Trade War, but they most certainly will respond to downside in the real economy."
Worries over trade overshadowed a solid jobs report. The U.S. economy added 164,000 jobs last month, just below a Dow Jones forecast of 165,000. Wages rose more than expected on a year-over-year basis.