Business News

(NEW YORK) -- U.S. stocks climbed on Friday, shrugging off new Chinese tariffs on American goods that intensified a trade war between the two largest economies in the world.The Dow Jones Industrial Average jumped 440 points, or 1.1%, while the S&P 500 surged 1.4%. The tech-heavy Nasdaq increased 1.6%.Meanwhile, a selloff of 10-year Treasuries sent yields climbing to 4.46%. That figure neared a recent high attained hours before President Donald Trump announced on Wednesday a 90-day […]

(NEW YORK) -- Americans' love affair with coffee and chocolate could soon get a lot more expensive.Baristas and confectioners say the beans they need to make their products are mostly grown in countries targeted by the Trump administration's tariffs.According to the U.S. Department of Agriculture, the United States is the world's second-largest importer of coffee. In a reflection of how much Americans love chocolate, U.S. businesses import about $5 billion worth of cocoa […]

(NEW YORK) -- U.S. stocks seesawed between gains and losses in early trading on Friday as new Chinese tariffs on American goods intensified a trade war between the two largest economies in the world.The Dow Jones Industrial Average dropped 103 points, or 0.25%, while the S&P 500 fell 0.2%. The tech-heavy Nasdaq declined 0.07%.Meanwhile, a selloff of 10-year Treasuries sent yields climbing to 4.55%. That figure exceeded a recent high […]

Michael M. Santiago/Getty Images (NEW YORK) -- U.S. stocks inched lower in early trading on Friday as new Chinese tariffs on American goods intensified a trade war between the two largest economies in the world.The Dow Jones Industrial Average dropped 96 points, or 0.25%, while the S&P 500 fell 0.1%. The tech-heavy Nasdaq declined 0.05%.China issued a 125% U.S. tariff early Friday morning, but Beijing said it would not increase […]

(WASHINGTON) -- President Donald Trump's decision to pause so-called "reciprocal tariffs" for most countries triggered a historic stock market rally on Wednesday, but the levies that remain in place are still expected to hike prices and put the U.S. at risk of a recession, experts told ABC News.Alongside the suspension of some tariffs, Trump increased duties on Chinese goods to a total of 145%, marking a significant escalation of a […]

(NEW YORK) -- Consumer prices rose 2.4% in March compared to a year ago, marking a cooldown during a period that preceded the recession warnings and market turmoil following President Donald Trump's recent escalation of tariffs. The reading came in lower than economists expected.Even as overall cost hikes slowed, egg prices soared 60% higher than a year prior. Bird flu has decimated the egg supply, lifting prices higher.The cooldown is […]

(NEW YORK) -- U.S. stocks surged on Wednesday after President Donald Trump announced a 90-day pause in some tariffs.The Dow Jones Industrial Average climbed 2,370 points, or 6.3%, while the S&P 500 soared 7.4%. The tech-heavy Nasdaq jumped 9.6%.President Donald Trump's latest batch of levies on China increased the cumulative rate of tariffs on Chinese goods to 104% -- a move met with retaliatory tariffs in Beijing that raised tariffs […]

(RALEIGH, N.C.) -- In the Research Triangle area in and around Raleigh, North Carolina, home sales and construction development are booming as thousands flock to the area in search of affordable homes close to work.However, the severe tariffs President Donald Trump put on virtually all U.S. trading partners have created uncertainty within the U.S. housing market.Leonard Windham, a Raleigh area realtor, gave ABC News a tour of a new housing […]

(NEW YORK) -- Hedge fund honcho Bill Ackman has joined a growing list of President Donald Trump's billionaire backers calling for the White House to slam the brakes on tariffs.As the Trump administration's reciprocal tariffs went into effect Wednesday, triggering retaliatory reactions from China and the European Union, Ackman took to social media, asking Trump to put a 90-day pause on tariffs, arguing the president can "accomplish his objectives without destroying small […]