The world’s most widely followed stock-market benchmark slid into a correction on Thursday, a drop that underscores how the two-year-long bull market is running out of steam in the early days of the Trump administration. The move stems from investors’ growing pessimism about the whipsawing policy pronouncements from Washington over the past few weeks. On-again,…
“He was in turmoil,” his wife, Kelly Johnson, recalled of that night last spring, in an interview conducted last fall. “We assumed we were done. I was saying, ‘Well, it’s been great. It’s been a nice, but short little ride.’ We thought we were going home.” Mr. Johnson spent the night praying in the living…
President Trump and Vice President JD Vance loudly berated President Volodymyr Zelensky of Ukraine on Friday in an explosive televised shouting match unlike any seen in the Oval Office between an American president and foreign leader in modern times. Mr. Trump and Mr. Vance castigated Mr. Zelensky for not being grateful enough for U.S. support…
A Manhattan federal judge on Friday banned Elon Musk’s cost-cutting team from regaining access to the U.S. Treasury Department’s most sensitive payment and data systems until the conclusion of a lawsuit that claims the group’s access is unlawful. The judge overseeing the case, Jeannette A. Vargas, ruled that members of the so-called Department of Government…
Treasury Secretary Scott Bessent will skip a meeting of finance ministers and central bankers from the Group of 20 nations in Cape Town next week, according to people familiar with his plans, deepening the rift between the United States and South Africa over policies the Trump administration believes are anti-American. The decision to forgo such…
President Trump said on Sunday night that he had ordered the Treasury secretary to stop producing new pennies, a move that he said would help reduce unnecessary government spending. “Let’s rip the waste out of our great nations budget, even if it’s a penny at a time,” he said in a post on Truth Social….
Elon Musk and his DOGE team have been granted access to the US Treasury Department’s payment system, according to a report in the New York Times. The move follows a standoff between Musk’s team and a top Treasury official, David Lebryk, who refused to grant access to the department’s payment system. The official was reportedly…
President Trump said on Tuesday that he intended to impose a 10 percent tariff on Chinese imports into the United States on Feb. 1, a decision that is sure to escalate trade tensions between the world’s largest economies. Speaking at the White House, Mr. Trump said that the tariffs were in response to China’s role…
If President Trump has his way, the auto industry’s transition to electric vehicles will soon slam into reverse. He will erase tax credits for electric-vehicle purchases, federal grants for chargers, and subsidies and loans to help retool assembly lines and build battery factories. Executive orders issued by Mr. Trump on Inauguration Day amount to a…
By Gram Slattery WASHINGTON (Reuters) – A top trade adviser to President-elect Donald Trump told Reuters on Thursday that the new administration would not look “fondly” on any attempt by China to manipulate its currency, responding to a Reuters report that authorities there were considering allowing the yuan to weaken next year. Peter Navarro, Trump’s…