Business
Jeff Bottari/Zuffa LLC (NEW YORK) — A feud between President Donald Trump and Tesla CEO Elon Musk hammered shares of the electric carmaker on Thursday, before a lull in the acrimony on Friday prompted a recovery of some losses. Still, as of midday Friday, shares had dropped nearly 10%, wiping out tens of billions of […]
Marcus Brandt/picture alliance via Getty Images (NEW YORK) — The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed. Trump touted the tariffs as an effort to slash the nation’s trade deficit, which the president […]
Tasos Katopodis/Getty Images (NEW YORK) — The United States’ economic growth forecast was cut sharply on Tuesday by the Organization for Economic Co-operation and Development, or OECD, which attributed the gloomy outlook in part to tariffs issued by President Donald Trump. The OECD expects the U.S. economy to grow 1.6% in 2025, marking a substantial reduction from a 2.2% […]
Matteo Colombo/Getty Images (NEW YORK) — Stocks closed higher on Thursday after a panel of federal judges blocked President Donald Trump from slapping some of his far-reaching tariffs on China and other major U.S. trading partners. A federal appeals court moved to temporarily reinstate the tariffs on Thursday afternoon, however, leaving the ultimate fate of the policy […]
Craig T Fruchtman/Getty Images (NEW YORK) — Macy’s slashed its full-year profit forecast on Wednesday, attributing the downbeat expectations in part to tariffs imposed by President Donald Trump. The New York-based retail chain is the latest major company to warn of ill effects from the levies, including Target, Walmart and Nike. Macy’s downgraded its expectations […]
Silas Stein/picture alliance via Getty Images (NEW YORK) — The GENIUS Act, a cryptocurrency regulation bill making its way through the Senate, has thrust a little-known type of digital asset into the spotlight. The industry-backed measure establishes rules targeting stablecoins, a form of cryptocurrency pegged to the value of another asset, often the U.S. dollar. […]
Spencer Platt/Getty Images (NEW YORK) — Stocks tumbled in early trading on Friday after President Donald Trump threatened new tariffs targeting tech giant Apple and the European Union. The Dow Jones Industrial Average dropped 458 points, or 1.1%, while the S&P 500 declined 1.2%. The tech-heavy Nasdaq dropped 1.6%. Shares of Apple fell nearly 3% […]
Anna Moneymaker/Getty Images (NEW YORK) — Consumer attitudes soured in May for the fourth consecutive month, even as President Donald Trump dialed back some tariffs. The reading came in below the level economists expected. Shopper sentiment now hovers near its lowest level since a severe bout of inflation three years ago, University of Michigan survey data on Friday showed. […]
Tom Williams/CQ-Roll Call, Inc via Getty Images (WASHINGTON) — The race to win tickets to an exclusive crypto dinner gala with President Donald Trump at his private golf club in Virginia on May 22 ended with top 220 holders of the Trump meme coin winning invitations to the black tie gala, the coin’s official X […]
Matteo Colombo/Getty Images (NEW YORK) — U.S. stocks soared on Monday, just hours after the U.S. and China announced an agreement to slash tariffs for 90 days as the world’s two largest economies negotiate a wider trade deal. The Dow Jones Industrial Average climbed 1,050 points, or 2.5%, while the S&P 500 jumped 3%. The […]
