Breaking News: Economy
Economists take issue with Trump’s tariff formula, arguing rate is inflated
The formula at the core of President Donald Trump’s tariff announcement that continues to rattle markets is bewildering economists, who say it is based on flawed assumptions. Economists argue that Trump’s formula relies on a flawed, underestimation of a key metric, resulting in inflated tariff rates for countries. According to the Office of the United […]
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Tech megacaps lose $1.8 trillion in 2 days as Trump tariffs lead Nasdaq to worst weekly drop in 5 years
SpaceX CEO Elon Musk attends a cabinet meeting held by U.S. President Donald Trump at the White House on March 24, 2025. Win McNamee | Getty Images No one is getting hit harder than technology megacaps as markets hit selloff mode. Once powering the market to new highs, the group known as the Magnificent Seven […]
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Stocks making the biggest moves midday: Palantir, Caterpillar, Apple, JPMorgan Chase and more
Check out the companies making headlines in midday trading: Bank stocks — Major banks declined on Friday, as President Donald Trump’s new tariff policies increasingly raised fears of a U.S. economic pullback. Shares of Goldman Sachs , Citigroup , Morgan Stanley and Wells Fargo tumbled about 8%. JPMorgan dropped 7%. Tesla , Palantir Technologies — […]
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Trump’s tariff rates for other countries radically larger than Word Trade data
U.S. President Donald Trump speaks during an event announcing new tariffs in the Rose Garden at the White House in Washington, April 2, 2025. Chip Somodevilla | Getty Images President Donald Trump announced an aggressive, far-reaching “reciprocal tariff” policy this week, leaving many economists and U.S. trade partners to question how the White House calculated its rates. […]
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Watch Fed Chair Jerome Powell speak live on interest rates and tariffs
[The stream is slated to start at 11:25 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Friday to the Society for Advancing Business Editing and Writing conference in Arlington, Virginia. The central bank leader’s appearance, including prepared remarks and a […]
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Powell sees tariffs raising inflation and says Fed will wait before further rate moves
US Federal Reserve Chair Jerome Powell holds a press conference after the Monetary Policy Committee meeting, at the Federal Reserve in Washington, DC on March 19, 2025. Roberto Schmidt | Afp | Getty Images Federal Reserve Chair Jerome Powell said Friday that he expects President Donald Trump’s tariffs to raise inflation and lower growth, and […]
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U.S. payrolls rose by 228,000 in March, but unemployment rate increases to 4.2%
Job growth was stronger than expected in March, providing at least temporary reassurance that the labor market is stable, the Labor Department reported Friday. Nonfarm payrolls increased 228,000 for the month, up from the revised 117,000 in February and better than the Dow Jones estimate for 140,000, according to the Bureau of Labor Statistics. However, […]
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Trump tariff live updates: China punches back, sending U.S. markets tumbling
China tariffs slap back at Trump’s plan China’s President Xi Jinping attends the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco, California, U.S. November 17, 2023. Carlos Barria | Reuters China’s finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. The China tariffs take effect on April 10. The […]
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Trump tariffs are ‘pure madness’ and the European Union should not comply, former Italian PM says
U.S. President Donald Trump’s so-called ‘Liberation Day’ trade tariffs are “madness, pure madness”, according to former Italian Prime Minister and Dean of the IE School of Politics Enrico Letta, who called the reciprocal levies “incomprehensible.” Speaking to CNBC’s Silvia Amaro on the shores of Lake Como at the Ambrosetti Forum on Friday, he said Trump […]
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El-Erian says U.S. recession risks are now ‘uncomfortably high’
Mohamed Aly El-Erian, chief economic advisor for Allianz SE. Bloomberg | Getty Images President Donald Trump’s extensive raft of import tariffs are putting the U.S. economy at risk of recession, Allianz’s Chief Economic Advisor Mohamed El-Erian warned on Friday. He added that Trump’s swathe of so-called reciprocal tariffs could have a significant effect on the […]
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