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 energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...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
* South Africa's rand recovers from 11-month low
* China records best export growth since March
* EM stocks set to break 11-day run of losses
Aug 8 (Reuters) - Emerging market stocks broke their second longest run of losses ever and currencies stabilized on Thursday as positive trade data out of China, which also signaled curbing a slide in its yuan, gave investors some relief after this week's rout.
The South African rand recovered from a 11-month low hit on Wednesday after its central bank chief said the country would not look for support from the International Monetary Fund, while the Turkish lira and the Russian rouble gained over 0.3%.
Tempering recession fears for now, data from the world's second largest economy showed exports unexpectedly returned to growth in July despite escalating U.S. tariff pressure. July exports rose 3.3% from a year earlier, while analysts had expected a 2% drop.
The yuan firmed despite the central bank setting its official midpoint past the key level of 7-per-dollar, which was firmer than market expectations.
"The yuan stabilized around seven and the odds are that this may last for a while as the PBOC calms down the market," said Sebastien Galy, macro strategist at Nordea Asset Management.
Risk assets including developing world markets, commodities and equities suffered sharp losses on Wednesday after surprise interest rate cuts from a trio of Asian central banks and weak German data compounded fears that a long-drawn U.S.-China trade war will tip the world into recession.
In response, the benchmark U.S. yields fell to near record lows, while the average yield on local currency debt for emerging markets was at its lowest since May 2013.
The Philippine central bank was the latest to cut its benchmark interest rate by 25 basis points on Thursday as widely expected. Its dollar was up 0.3%.
The Indian rupee jumped 0.7% after officials said the government was likely to roll back the recently imposed higher taxes on foreign portfolio holders. The gains came as the country faced strained diplomatic ties with Pakistan over India's withdrawal of special status to Kashmir.
In east Europe, the Hungarian forint jumped 0.3% against the euro. Data showed the country's headline inflation slowed to 3.3% in July, matching forecasts but core inflation was a touch below analysts' forecasts.
Meanwhile, MSCI's index of emerging stocks rose 0.8% - ending a 11-day run of losses - its second worst stretch on record since the height of the Greek crisis in 2015 and back in 1990.
Chinese stocks jumped nearly 1%, leading gains among Asian stock markets, while Russia's MOEX index gained over 1% as oil prices jumped.
For GRAPHIC on emerging market FX performance 2019, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance 2019, see https://tmsnrt.rs/2OusNdX
For TOP NEWS across emerging markets
For CENTRAL EUROPE market report, see
For TURKISH market report, see
For RUSSIAN market report, see (Reporting by Sruthi Shankar in Bengaluru; Editing by Stephen Powell)