Nasdaq set to confirm bear market as tariffs threaten Big Tech growth
By Sukriti Gupta and Medha Singh(Reuters) – The Nasdaq looked set to confirm a bear market on Friday, down more than 20% from its record high, as China and the U.S. entered a tit-for-tat tariff war that raised recession fears and clouded the outlook for tech...
Trump TikTok sale deadline looms as US looks for deal
By David ShepardsonWASHINGTON (Reuters) -Chinese technology company ByteDance faces a Saturday deadline imposed by President Donald Trump to sell U.S. assets of TikTok to a non-Chinese buyer or face a ban that was supposed to take effect in January under a 2024 law.A...
Rubio says US can no longer supply bulk of global humanitarian aid
By Daphne Psaledakis and Humeyra PamukBRUSSELS/WASHINGTON (Reuters) – The United States will no longer bear the burden of providing the majority of global humanitarian aid, Secretary of State Marco Rubio said on Friday, calling on other wealthy nations to step...
Tesla, chips, and banks tumble as China’s retaliation stokes fears of widening trade war
By Deborah Mary Sophia(Reuters) -U.S. chip companies, banks and oil majors fell sharply on Friday after China retaliated to Trump’s tariffs with steep duties, in an intensifying trade war between the world’s two largest economies that cast a shadow on...
Microsoft, turning 50, dials up Copilot actions to stay in AI game
By Jeffrey DastinREDMOND, Wash (Reuters) -Thousands of people swooned in a dark conference hall that felt more like a rock concert when a Microsoft product manager demonstrated the company’s latest feature: how to sum numbers in Excel, with the click of a...
Oil plunges to lowest since pandemic; natural gas, soy slump as China retaliates
By Anna Hirtenstein(Reuters) – Oil prices plunged on Friday to the lowest level since 2021 and commodities including natural gas and soybeans also dived as China retaliated against U.S. President Donald Trump’s aggressive tariffs. Beijing put forward a 34%...
Elon Musk can stay ‘as long as he likes’ but will want to get back to businesses, says Trump
By Trevor HunnicuttABOARD AIR FORCE ONE (Reuters) – President Donald Trump gave billionaire adviser Elon Musk a fresh endorsement on Thursday amid criticism of Musk’s government reduction project and said he can stay “as long as he likes” but...
Trump’s tariffs are largest US tax hike since 1968, JPM warns
NEW YORK (Reuters) – U.S. President Donald Trump’s cumulative tariff hikes amount to about 22%, which would be equivalent to the biggest U.S. tax increase since 1968, according to a note from JPMorgan.The bank has raised its risk of global recession to...