The entrance to one of the Google buildings in the ‘Silicon Docks’ area in central Dublin, Ireland, on Tuesday, Nov. 29, 2022. Bloomberg | Bloomberg | Getty ImagesThe European Union says it is keeping all options open if it fails to negotiate its way out of U.S. President Donald Trump’s hefty 20% blanket tariffs — and that could include going after mighty Big Tech.Ahead of the tariff announcement on Wednesday — which has stunned global markets with its scope and scale — European Commission President Ursula von der Leyen said that in formulating its response, Europe “holds a lot of cards,…
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CNBC’s Jim Cramer on Friday blasted the White House for its approach to trade policy, arguing that it threatens to further slam stocks. “It should not be in our country’s interest to have the market crash,” Cramer said on “Squawk on the Street,” as U.S. stocks were coming under heavy selling pressure in premarket trading. The S & P 500 tumbled 3% shortly after Friday’s opening bell, building on its 4.8% plunge in Thursday’s session. “I struggle for what the president’s game plan is because if you wanted to make the market crash, I think you would go with this…
By Patrick Mooney, Ken Rosenthal and Sahadev SharmaCHICAGO — At first glance, the post from an X user named @Brooks_Gate seemed like something a multibillion-dollar company would ignore.It consisted of a chart that used estimated data to illustrate the percentage of revenue spent on player payroll. Rather than sitting at the top with heavyweights like the Los Angeles Dodgers and New York Mets, the Chicago Cubs were lumped in near the bottom alongside the crosstown White Sox as well as the Pittsburgh Pirates, Tampa Bay Rays and Miami Marlins — the lightweight class.The Wrigley Field money-making machine drove the Cubs…
For hours, the atmosphere in the streets surrounding South Korea’s Constitutional Court in downtown Seoul had been tense. Dozens had camped out overnight in the early spring chill in the lead-up to the court’s historical decision on Friday.The crowds for and against the dismissal of the country’s impeached president, Yoon Suk Yeol, were separated by police buses and metal barriers up to 13 feet in height.As the acting chief justice began reading out the decision, filled with technical legal jargon, the crowds grew quieter, straining to hear from outdoor loudspeakers the outcome that would determine Mr. Yoon’s fate — and…
Traders work on the floor of the New York Stock Exchange during morning trading on April 03, 2025 in New York City. Michael M. Santiago | Getty ImagesTraders are now betting the Federal Reserve will cut interest rates at least four times this year, amid fears President Donald Trump’s tariffs could tip the U.S. into a recession.Odds of five quarter-point reductions coming this year jumped to 37.9%, up from 18.3% one day prior, according to data from the CME Group on Friday morning. That would put the federal funds rate at 3.00% to 3.25%, down from 4.25% to 4.50% where it…
Genuine Parts Company may gain even in the face of President Donald Trump’s new tariff regime, according to Evercore ISI. Analyst Greg Melich on Friday upgraded the Atlanta-based auto parts distributor to outperform from in line and raised his price target by $7 to $135, implying nearly 14% upside over the next 12 months from Thursday’s close. The stock has fallen more than 3% in the past month and more than 13% in the past half year, but little changed so far in 2025 versus the S & P 500’s 8% decline this year. The stock yields 3.47%, according to…
Investors are starting to run for the exits. Stocks were primed for another steep sell-off on Friday , with Dow Jones Industrial Average futures plunging more than 900 points. S & P 500 and Nasdaq-100 futures were down more than 2.5% each. Those losses come after China said it will impose a 34% tariff on all U.S. goods in retaliation for higher U.S. duties unveiled by President Donald Trump earlier this week. If these declines materialize through Friday’s cash session, they could mark the beginning of a washout some think the market needs before it can make a meaningful comeback…
Reading, UK – JULY 5, 2021: British High Street Banks stopping account holders buying using or processing crypto related transactions as traditional banking industry declares war on crypto currenciesCraig Hastings | Moment | Getty ImagesEuropean banks have been battered in the wake of U.S. President Donald Trump’s sweeping and more-aggressive-than-anticipated tariffs.The European banking index extended its hemorrhage on Friday morning with a further 9.28% in losses by 12:42 p.m. London time, as giants Deutsche Bank, Intesa Sanpaolo, Banco Santander and UniCredit each surrendered between 9% and 11% of their share price.In Switzerland, which faces a U.S. tariff of at least…
Check out the companies making headlines before the bell. Big banks — Bank stocks took a hit over increasing fears of a U.S. economic pullback amid an escalating global trade war. Goldman Sachs and Morgan Stanley each lost 6%, while JPMorgan Chase , Citigroup and Wells Fargo shed 5%. China-based ETFs — China-based exchange-traded funds slid after the nation’s finance ministry announced on Friday that it will impose a 34% tariff on all U.S. goods starting Thursday, April 10. This comes on the back of President Donald Trump’s decision to impose an additional 34% duty on China — bringing the…
The tariffs announced this week by President Donald Trump have significantly increased the chances of a U.S. and global economic downturn, according to JPMorgan. “These policies, if sustained, would likely push the US and possibly global economy into recession this year,” wrote Bruce Kasman, head of global economic research, in a note late Thursday. The economist puts the odds of a recession this year now at 60%, up from 40% before the tariff rollout. Even if the global economy does avoid a recession, the U.S. may not be as lucky, Kasman said. “Scenario where rest of world muddles through a…
