In This Story U.S. stocks were a mixed bag Monday as investors followed earnings across sectors, from pizza to semiconductors and sanitation. How Trump’s tariffs could make your iPhone cost $3,500 The Dow Jones Industrial Average climbed 114 points, or 0.3%, while the S&P 500 gained almost 4 points, or about 0.1%. The tech-heavy Nasdaq finished…
Treasury Secretary Scott Bessent said Wednesday that China’s current economic model — built on “exporting its way out of economic troubles” — is unsustainable, and that the U.S. wants to help it change. How Trump’s tariffs could make your iPhone cost $3,500 In his keynote address at the Institute of International Finance in Washington, D.C.,…
In This Story U.S. stocks were surging into the green on Wednesday morning after President Donald Trump backed off his threat to fire Federal Reserve Chair Jerome Powell — at least for now. How Trump’s tariffs could make your iPhone cost $3,500 After days of escalating attacks, including calling Powell a “major loser” and saying…
Last weekend, Treasury Secretary Scott Bessent went on television and said people who wanted to retire right now were not paying attention to the stock market. On the NBC program “Meet the Press,” referring to those who have “put away for years in their savings account,” he said the following: “I think they don’t look…
For the past week, President Trump has been urging calm in the face of the financial chaos that he created and resisting calls for him to rethink his approach. “I know what the hell I’m doing,” he told Republicans on Tuesday as the massive tariffs he had imposed sent global markets into a tailspin. “BE…
Trump administration officials made the rounds this weekend to try to answer the nearly unanswerable: Why tank the stock market by starting a trade war? And are you subtracting trillions of dollars in unrealized losses out of people’s savings on purpose? Treasury Secretary Scott Bessent’s appearance on NBC’s “Meet the Press” was particularly odd. “Most…
Wall Street billionaires are not used to being on the outside looking in. But that is where they find themselves after President Trump ignored their appeals to call off his tariff plans which they fear could endanger the economy. With the backdrop of rapidly mounting stock market losses, corporate titans have worked every angle —…
President Trump’s top aides raced to defend his expansive global tariffs on Sunday, downplaying the prospect that his new taxes on imports could cause a significant spike in prices or tip the U.S. economy into a painful recession. As Mr. Trump departed Mar-a-Lago for another day of golfing at his club in Jupiter, Fla., his…
There was little rest on Wall Street this weekend. There was plenty of anger, anxiety, frustration, and fear. Anger at President Trump for a brash and chaotic rollout of tariffs that erased trillions of dollars in value from the stock market in two days. Anxiety about the state of the private equity industry and other…
What’s behind door No. 1? President Trump likes a big splash, and he’s not holding back for Wednesday’s introduction of reciprocal tariffs on America’s trading partners: Expect a major announcement in the Rose Garden. Otherwise, detail is lacking. That prompted a major stock sell-off, with the S&P 500 experiencing its worst one-month loss since 2022…