Business News

(NEW YORK) -- U.S. stocks tumbled at opening on Monday as President Donald Trump's tariffs stoked fears of a wider global trade war and Wall Street firms sounded alarms about a possible recession. The sell-off hit U.S. firms hours after a historic rout in foreign markets.The Dow Jones Industrial Average plummeted 1,600 points, or 4.3%, while the tech-heavy Nasdaq declined 5%.The S&P 500 plunged 4.6%, tipping the index into bear […]

(HONG KONG) -- Key global stock markets tumbled upon opening on Monday as the world's reaction to President Donald Trump's tariffs campaign continued -- and as U.S. futures signaled more turmoil for American markets.In the U.S., Dow Jones futures were down about 1,200 points or 3.33% on Monday morning. S&P 500 and NASDAQ futures were down about 3.5%. A drop of 7% on the S&P 500 before 3:35pm ET will […]

(NEW YORK) -- U.S. consumers are going on a tariff-induced shopping spree. From furniture, to appliances, to alcohol, Americans are rushing to buy before President Donald Trump's sweeping tariffs are felt at the checkout counter.Economists say the tariffs are expected to increase prices for everyday items and many are now raising the likelihood that the economy will fall into a recession.Auto sales surged 11.2% in March as car buyers flocked […]

(NEW YORK) -- U.S. stocks closed down significantly on Friday after a continued selloff amid fallout from President Donald Trump's "Liberation Day" tariffs.The Dow Jones Industrial Average plummeted 2,230 points, or 5.5%, while the S&P 500 plunged 6%.The tech-heavy Nasdaq declined 5.8%. The decline put the Nasdaq into bear market territory, meaning the index has fallen more than 20% from its recent peak.The trading session on Friday marked the worst day […]

(NEW YORK) -- President Donald Trump on Friday said he is extending the deadline for TikTok to be banned or sold off by its Chinese-owned parent company, ByteDance.The previous April 5 deadline will be pushed 75 days, Trump said in a post to his social media platform. It's the second time he has pushed the deadline since taking office."My Administration has been working very hard on a Deal to SAVE […]

Tom Williams/CQ-Roll Call, Inc via Getty Images (WASHINGTON) -- Federal Reserve Chair Jerome Powell said Friday he expects President Donald Trump's tariff policy will hike prices and slow economic growth, while noting that key indicators "still show a solid economy."Policy changes implemented by the White House have contributed to a "highly uncertain outlook," Powell said, making the remarks as stocks plummeted amid an escalating global trade war.Despite the murky outlook, Powell said […]

(NEW YORK) -- U.S. stocks continued their slide in early trading on Friday, just hours after China announced retaliatory tariffs in response to President Donald Trump's "Liberation Day" levies.The Dow Jones Industrial Average plummeted 925 points, or 2.25%, while the S&P 500 dropped 2.4%. The tech-heavy Nasdaq declined 3%.On Friday, China said it will impose 34% tariffs in response to the levies issued by Trump earlier this week.In a social […]

(NEW YORK) -- U.S. hiring surged in March, blowing past economists' expectations and defying concern on Wall Street about a possible economic recession, government data on Friday showed.The fresh data offered news of an upsurge in employer activity as stocks suffered a second day of selloffs over sweeping new tariffs announced by President Donald Trump earlier this week.The U.S. added 228,000 jobs in March, according to data from the U.S. […]

(NEW YORK) -- Hiring data to be released on Friday will offer a gauge of the nation's economic health, just a day after President Donald Trump's sweeping new tariffs triggered a major stock selloff.The jobs report, which details employer activity in March, is set to provide a snapshot of staff cuts imposed by the federal government last month amid cost-cutting efforts undertaken by the Department of Government Efficiency.The fresh data […]