Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
Kudlow pointed to strong retail sales and low unemployment as signs that the U.S. economy remained strong.Marketsread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
Coinbase security chief Philip Martin explains, "Possession of a key is possession of your currency. What that means is that you can't revoke a cryptocurrency key, if that key...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
For investors looking to take shelter in a trade war, there are pockets of the market that have done well during huge market pullbacks in the past.
The U.S.-China trade war has stocks in free fall with surprise tariffs and currency devaluations.
The S&P 500 has tumbled more than 5% since President Donald Trump imposed additional tariffs on China on Thursday. The sell-off deepened on Monday, with the Dow Jones Industrial Average having its worst day of the year, after China retaliated by allowing its currency to drop to 7 against the dollar for the first time since 2008. The S&P 500 had just hit an all-time time of 3,025.86 on July 26 before it all went down.
CNBC used Kensho, a hedge fund analytics tool, to find the best-performing exchange-traded funds when the S&P 500 tumbled at least 10% in one month in the 11-year bull run (leveraged ETFs are excluded from this analysis.) The stock average had undergone four corrections in this record-long bull market. The last time was in December 2018 when the Federal Reserve hiked interest rates.
Bond and gold funds stand out as top performers as a major sell-off in equities would spark a flight-to-safety move. The iShares 20+ Year Treasury Bond ETF managed to gain more than 7% on average during the past pullbacks, while the SPDR Gold Trust climbed more than 5% on average.
Gold is already showing its strength, hitting its highest level since 2013 on Monday.
CNBC also looked at sector performance to see which sectors are relatively safe during a market correction. Utilities have been the best S&P 500 sector when the market is in turmoil. The sector, usually a defensive play, lost 4.3% on average in past corrections.
Consumer staples, also defensive in nature, also held up relatively okay, losing 7.5% on average when the S&P 500 tumbled 10% in one month.
Wall Street analysts are seeing little relief for stocks anytime soon. J.P. Morgan said equity markets could still be in for a few more weeks of pain before an eventual rebound, while Morgan Stanley said a recession will be here in 9 months if the trade war escalates further.