Money

By John Towfighi, CNN New York (CNN) — Stocks across the globe closed lower Friday after President Donald Trump unveiled his plan for levying tariffs on trading partners, threatening to upend decades of international cooperation. The Dow tumbled 542 points, or 1.23%. The broader S&P 500 fell 1.6% and the tech-heavy Nasdaq Composite slipped 2.24%.

By Alicia Wallace, CNN (CNN) — The US job market slowed sharply in July and was substantially weaker than first estimated for prior months, suggesting President Donald Trump’s trade policy may be stifling hiring. The US economy added just 73,000 jobs last month, and the monthly totals for May and June were revised down by

CNN, POOL, SEE PREFONTS By Elisabeth Buchwald, CNN (CNN) — President Donald Trump just set new tariffs for every country around the world, solidifying his extreme break with America’s long-standing trade policy. Tariffs on the vast majority of goods America imports are set to rise – even from the handful of countries that negotiated individual

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump just set new tariffs for every country around the world, solidifying his extreme break with America’s long-standing trade policy. Tariffs on the vast majority of goods America imports are set to rise – even from the handful of countries that negotiated individual trade deals. The higher

By Lisa Eadicicco, CNN (CNN) — Apple reported strong iPhone sales and rebound in revenue from China, giving a much-needed boost to two parts of the company’s business that had struggled over the past year. That better-than-expected performance reassured Wall Street investors that key parts of its business are holding steady as Apple struggles to

By Phil Mattingly, CNN (CNN) — In the end, President Donald Trump got exactly what he wanted. The 120 days since Trump’s Rose Garden “Liberation Day” announcement rocked financial markets weren’t exactly pretty. From the Washington to Wall Street and across foreign capitals far and wide, seemingly every day featured a disorienting burst of TACOs

By Matt Egan, CNN New York (CNN) — President Donald Trump met at the White House last week with a powerful business leader he’s repeatedly clashed with in the past: JPMorgan Chase CEO Jamie Dimon. During the Oval Office meeting, Trump and Dimon discussed the economy, trade, financial regulation and the Federal Reserve, a person

By Elisabeth Buchwald, CNN (CNN) — President Donald Trump announced on Thursday he’s extending the existing tariffs with Mexico, America’s largest trading partner, and he will pause higher tariffs that were set to go into effect Friday. That means the status quo will continue, in which goods from Mexico are taxed at 25%, unless they

By Alicia Wallace, CNN (CNN) — US consumers continued to spend in June, powering the economy in the process, despite tariff-related price hikes becoming more present on store shelves and online. Consumer spending rose 0.3% from May, when spending was flat, according to Commerce Department data released Thursday. Adjusted for inflation, spending ticked up 0.1%.

By Alicia Wallace, CNN (CNN) — The US job market seems to have chugged along for the first half of this year — but the risk is rising that employment growth is running out of steam. The July jobs report, due for release at 8:30 a.m. ET Friday, is expected to show a net gain

By Elisabeth Buchwald, CNN (CNN) — For months President Donald Trump has been slapping higher tariffs on practically every country’s exports to the United States, citing emergency economic powers. Now, just as he’s about to enact a new round of tariffs, a federal appeals court could render them void. Oral arguments began Thursday for an

By John Liu, CNN (CNN) — Just a few years ago, Samsung Electronics stood as a leading force in the global semiconductor race, dominating one chip sector and eyeing Taiwan’s TSMC in the battle for supremacy in another. But recent stumbles – including its failure to capitalize early on the artificial intelligence boom – has

By Elisabeth Buchwald, CNN (CNN) — US President Donald Trump announced a new trade deal with South Korea, which calls for 15% tariffs on goods from there, after the country scrambled to secure an agreement ahead of the Friday deadline. “The Deal is that South Korea will give to the United States $350 Billion Dollars

By Clare Duffy, CNN New York (CNN) — If Meta investors had concerns about the company’s huge spending on artificial intelligence infrastructure and talent — and its ambitious “superintelligence” goal — they’re likely to be assuaged by its blockbuster earnings report on Wednesday. The results, as one analyst put it, indicates that “AI is becoming

By Bryan Mena, CNN Washington (CNN) — The Federal Reserve on Wednesday kept interest rates unchanged for the fifth consecutive meeting as it remains under intense pressure from President Donald Trump and his allies to lower borrowing costs. The central bank left its benchmark lending rate at a range of 4.25% to 4.5%, where it

By Phil Mattingly, Kit Maher, CNN (CNN) — US President Donald Trump is ratcheting up the pressure on India, calling into question the prospects of a deal with a key US trading partner just days before his tariff deadline. In social media posts Wednesday, Trump sharply attacked India’s trade barriers and directly targeted its sustained

By Bryan Mena, CNN Washington (CNN) — The US economy expanded sharply in the second quarter as businesses dialed back on imports after stocking up earlier in the year to get ahead of President Donald Trump’s tariffs. But a look under the hood shows an economy that’s sputtering. Gross domestic product, which captures all the

By Jordan Valinsky, CNN New York (CNN) — Starbucks is shutting down its pick-up only store model just six years after introducing the concept, because they no longer mesh with the struggling coffee chain’s overall strategy. “We found this format to be overly transactional and lacking the warmth and human connection that defines our brand,”