Hedge funds, ETFs dump over $40 billion in stocks after Trump tariff shock
By Carolina Mandl and Saqib Iqbal AhmedNEW YORK (Reuters) -Global hedge funds and levered exchange-traded funds (ETFs) dumped more than $40 billion of stocks at a breakneck pace, growing increasingly bearish after President Donald Trump’s shock announcement of...
DOGE staffers arrive at U.S. antitrust and consumer protection agency
By Jody Godoy(Reuters) -Two people working with billionaire Elon Musk on a bid to radically shrink the U.S. government have started work at the U.S. Federal Trade Commission, the agency tasked with enforcing antimonopoly laws and fighting consumer fraud by...
Trading Day: Trump tariffs wipe $5 trillion off Wall Street
By Jamie McGeeverORLANDO, Florida (Reuters) – TRADING DAYBears, fears and tears One of the most pivotal weeks in years – even decades – for the global economy closed on Friday to the sound of the Nasdaq crashing into a bear market as investors fear...
IRS starts laying off 20,000 workers, eliminates civil rights office
By Kanishka Singh(Reuters) -The U.S. Internal Revenue Service began making sweeping cuts to its workforce on Friday, the agency’s leadership said in an email to staff on Friday, and among the first to go will be employees of its civil rights office.Reuters...
Robots, fraught consumers star in China AI videos mocking tariffs
By Antoni SlodkowskiBEIJING (Reuters) – China’s state-run media has taken to the internet with AI-generated videos, featuring dancing robots and fraught consumers, to chide U.S. President Donald Trump and tariffs they say threaten high inflation and...
China to US: ‘Market has spoken’ after tariffs spur selloff
By Antoni SlodkowskiBEIJING (Reuters) -China said on Saturday “the market has spoken” in rejecting U.S. President Donald Trump’s tariffs, and called on Washington for “equal-footed consultation” after global markets plunged in reaction to...
Musk says he hopes for ‘zero tariffs’ between US and Europe
ROME (Reuters) – U.S. tech-billionaire Elon Musk said on Saturday he hoped in future to see complete freedom of trade between the United States and Europe, speaking days after U.S. President Donald Trump announced tariffs on trading partners. Musk, a Trump...
Fed seen waiting until June to start rate cuts, after big job gains last month
(Reuters) -The Federal Reserve is seen waiting until June to start cutting interest rates after a government report showed stronger than expected jobs growth last month that eased concern about the state of the labor market as President Donald Trump moves to put...