Breaking News: Economy
IRS acting commissioner will resign over deal to send immigrants’ tax data to ICE, sources say
Pgiam | Istock | Getty Images WASHINGTON — The acting commissioner of the IRS is resigning over a deal to share immigrants’ tax data with Immigration and Customs Enforcement for the purpose of identifying and deporting people illegally in the U.S., according to two people familiar with the decision. Melanie Krause, who had served as acting head since February, […]
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Stocks making the biggest moves midday: Apple, UnitedHealth, Humana, Broadcom, Wells Fargo and more
Check out the companies making headlines in midday trading: Tech stocks — Shares of megacap technology names rose amid investor optimism that the U.S. would reach deals with other countries to lower tariffs. Apple , which lost around 20% over the past three trading days given its China exposure, rose more than 3%. Others such […]
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Why the stock market hates tariffs and trade wars
Traders work on the floor of the New York Stock Exchange. Spencer Platt | Getty Images The stock market has been throwing a temper tantrum, fueled by fear of President Donald Trump’s tariff policy and the specter of an escalating global trade war. Americans may wonder why trade policy has made stock investors so skittish. […]
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Cambodia hit with highest Trump tariff, but manufacturing ‘absolutely not’ coming back to U.S., trade group says
A garment factory in Phnom Penh, Cambodia. Bloomberg | Bloomberg | Getty Images Among the top goals for President Donald Trump and his administration in hitting trading partners with steep tariffs is bringing manufacturing capacity back to the U.S., even if it comes at the price of short-term market and economic duress. But in Cambodia, […]
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Tech, semiconductor stocks bounce on tariff optimism, Nvidia jumps 7%
Technology stocks bounced Tuesday after three rocky trading sessions, spurred by rising optimism that President Donald Trump could potentially negotiate tariff deals with world leaders. Nvidia led the Magnificent Seven group’s gains, rallying about 7%. Meta Platforms, Amazon and Tesla jumped at least 4% each, while Apple, Microsoft and Alphabet rose about 3%. The sector […]
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Emirates President Tim Clark warns of ‘uncharted territory’ as tariffs hit global aviation
Emirates President Tim Clark warned that the aviation industry is in “uncharted territory” as U.S. President Donald Trump’s sweeping tariffs and trade disputes weigh on global growth and threaten to drive up costs for airlines worldwide. “Right now, we are in troubled times,” Clark told CNBC in an interview recorded March 20 — ahead of […]
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Trump tariffs push major U.S. trade partners closer to China: Live updates
Citadel’s Ken Griffin: Trump tariffs are a ‘huge policy mistake’ Ken Griffin, Founder and CEO, Citadel speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. David Swanson | Reuters Founder and CEO of Citadel Ken Griffin is taking aim at Trump’s tariffs, calling […]
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Vietnam has been a big beneficiary of global trade — Trump’s new tariffs threaten to derail that
Boats in the harbor of Mui Ne, Vietnam, on March 8, 2023. Alexandra Schuler | Picture Alliance | Getty Images Vietnam has long been viewed as a successful example of embracing external trade, luring some of the largest companies in the world to establish hubs to manufacture everything from footwear to electronic products that grace […]
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Stocks making the biggest moves after hours: CVS Health, Broadcom, Humana and more
Check out the companies making headlines in after-hours trading: Health-care stocks — Shares of Humana , CVS Health and UnitedHealth jumped after The Wall Street Journal reported that the Trump administration will raise payment rates for Medicare insurers next year to 5.06%, higher than the 2.23% increase the Biden administration had proposed. Humana gained more […]
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