US stocks tumbled on Wednesday as investors were reminded of the costs President Trump’s tariffs will have for major companies and the challenges these policies may present for the broader US economy. The market sell-off intensified in the final hours of trading as Federal Reserve Chair Jerome Powell delivered perhaps his starkest warning yet on…
US stock futures fell after Nvidia (NVDA) revealed costly new curbs on chip exports to China, and investors grappled with uncertainty over President Trump’s trade policy. Futures attached to the Dow Jones Industrial Average (YM=F) slumped 0.8%. Futures attached to the benchmark S&P 500 (ES=F) sank 1.4%. Futures attached to the tech-heavy Nasdaq Composite (NQ=F)…
Nvidia Corporation (NVDA) Stock in the beleaguered megacap AI chip maker Nvidia has taken another hit in after-hours trading following the news that the US government has restricted the exports of H20 chips to China. The market is a huge buyer of Nvidia products with the reduction leading to a $5.5 billion hit to the…
Investors’ consensus view of the macroeconomy has flipped on its head in the past month. In the latest Bank of America Fund Managers Survey released on Tuesday, 49% of respondents said they expect a “hard landing” for the global economy — where economic growth deteriorates before inflation fully retreats — in the next 12 months….
Johnson & Johnson (JNJ) reported a beat on first quarter earnings Tuesday, even as concerns linger about how President Trump’s tariffs will impact its medical device business, as well as how a probe into pharmaceutical tariffs will impact its business. J&J reported first quarter revenue of $21.9 billion, beating Wall Street estimates by 1.4%. Adjusted…
President Trump stoked confusion this past weekend about tariffs on smartphones, but investors are viewing an electronics exemption announced Friday night as an important temporary win for Apple (AAPL) and other China-dependent technology giants. The move is also feeding a growing sense that Trump has a willingness to listen and bend on tariffs — as…
WASHINGTON — American technology companies hoping for relief from President Trump’s trade war with China grappled with further uncertainty Monday, left to decipher whether a government policy exempting businesses that are core to the U.S. economy from crippling tariffs could be relied upon. An industry that plans product launches and manufacturing years in advance faced four days…
When the US levies a tariff on an imported good, who pays the price: the manufacturer, the importer, or the consumer? A new study published by the Federal Reserve Bank of Boston found that the consumer ultimately gets charged for the higher cost of importing. Researchers working with Morning Consult asked small- and medium-size businesses…
Goldman Sachs (GS) CEO David Solomon said Monday that the prospect of a recession “has increased” amid the uncertainties of a trade war and the new challenges facing CEOs who are unsure about how to plan for the future. Solomon made his comments to analysts after releasing first quarter results showing market trading volatility helped…
Apple (AAPL) shares gained as much as 5% on Monday as Wall Street viewed the iPhone maker a major winner of exemptions on tariffs announced by the Trump administration over the weekend. “The Trump administration gives AAPL a lifeline,” said Angelo Zino, vice president and senior equity analyst at CFRA Research. “It also provides a…