Tariff
Affirm surges 20% as fintech rallies on tariff pause, but risk remains
Thomas Fuller | Sopa Images | Lightrocket | Getty Images The fintech sector is rallying Wednesday following the Trump administration’s announcement of a 90-day pause on planned tariffs. Affirm was up 20%, Toast and Block rose 13% and PayPal increased 10%. The 90-day pause doesn’t eliminate the threat of tariffs — it just delays it. […]
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European Union approves first set of retaliatory tariffs on U.S. imports
European flags fly in front of the Berlaymont building. Omar Havana | Getty Images News | Getty Images The European Union on Wednesday voted to approve its first set of retaliatory measures to counter tariffs imposed by the U.S. on steel and aluminum. The European Commission, the bloc’s executive arm, said duties would start being […]
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Trump’s tariffs launch a global trade war with no clear off-ramp: Live updates
Dimon: Recession is ‘a likely outcome’ of tariffs Jamie Dimon, CEO of JP Morgan Chase, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22nd, 2025. Gerry Miller | CNBC JPMorgan Chase CEO Jamie Dimon says that a recession in the U.S. is a “likely outcome” as a result […]
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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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CNBC Daily Open: Musk slams Navarro as Trump’s 104% tariffs on China are set to take effect
Shipping containers and gantry cranes beyond a fishing boat near the Yangshan Deepwater Port in Shanghai, China, on Wednesday, Dec. 6, 2023. China’s trade figures are scheduled for release on Dec 7. Bloomberg | Bloomberg | Getty Images In just a few hours, Trump tariffs will kick in — which includes a ghastly 104% duty […]
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Apple’s 4-day slide puts Microsoft back on top as most valuable company
Satya Nadella, CEO of Microsoft, laughs as he attends a session at the World Economic Forum in Davos, Switzerland, on Jan. 23, 2020. Denis Balibouse | Reuters Apple‘s 23% plunge over the past four trading sessions has again turned Microsoft into the world’s most valuable public company. As of Tuesday’s close, Microsoft is worth $2.64 […]
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Why bitcoin is showing ‘impressive’ resilience through tariff tumult, according to Bernstein
While recession fears and uncertainty about President Donald Trump’s tariff plans have taken stocks for a ride, bitcoin’s resilience through it all “has been nothing but impressive,” according to Bernstein. Bitcoin lost about 7% from last Thursday — the day after Trump revealed his sweeping tariffs plan — to this Monday. During the same period, […]
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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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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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Treasury Secretary Bessent says China’s escalation was ‘big mistake,’ country playing with ‘losing hand’
Treasury Secretary Scott Bessent said Tuesday the U.S. holds a substantial advantage over China as the two nations exchange threats in a burgeoning trade war. “I think it was a big mistake, this Chinese escalation, because they’re playing with a pair of twos,” Bessent said during an interview on CNBC’s “Squawk Box.” “What do we […]
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