U.S. stocks wrapped up the week with a mixed finish after President Donald Trump accused China of breaking a recent trade agreement, reigniting global market jitters just weeks after a deal was struck in Geneva.
The S&P 500 slipped 0.01% to close at 5,911.69, while the Nasdaq lost 0.32%, ending at 19,113.77. The Dow Jones rose 0.13%, finishing the week at 42,270.07.
Markets wavered following Trump's sharply worded social media post, in which he claimed China is facing economic collapse due to U.S. tariffs and said Beijing had "totally violated" the agreement Washington announced earlier this month.
“Everybody was happy! That is the good news!!! The bad news is that China… HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,” Trump posted.
He added he would soon speak with Chinese President Xi Jinping, expressing hope that the matter could be resolved.
In response, China pushed back, pointing to ongoing U.S. restrictions on chip exports. A spokesperson from China’s embassy in Washington, Liu Pengyu, said the U.S. should stop “discriminatory restrictions” and respect the Geneva consensus.
Meanwhile, fresh U.S. economic data showed consumer sentiment remained flat in May, with the University of Michigan’s index holding at 52.2. Short-term inflation expectations edged up to 6.6%, but long-term expectations fell to 4.2%, the first drop since December.
Iran's Islamic Revolutionary Guards Corps (IRGC) said in a Saturday statement that the Strait of Hormuz has...
The Trump administration extended a sanctions exemption on some Russian oil as prices continue to skyrocket in the wake of the U.S.- Israeli war ag...
Australia and Japan signed contracts on Saturday (18 April) launching their landmark A$10 billion ($7 billion) dea...
Global shipping through the Strait of Hormuz has shown signs of partial recovery after Iran announced it was open to commercial vessels during a li...
Iran reopened the Strait of Hormuz to commercial shipping on Friday (17 April) for the first time since the U.S. and Israel killed Iran's ex-Su...
Leaders from across Europe and beyond gathered in Paris on Friday for a summit aimed at managing the global impact of the Middle East conflict.
An average of at least 47 women and girls were killed each day during the war in Gaza, according to new figures released by UN Women.
A remarkable discovery at the ancient ruins of Sanxingdui offers a glimpse into what appears to be otherworldly craftsmanship - an axe believed to have been made using material from a meteorite.
China is seeking to strengthen and upgrade its cooperation with Turkmenistan, focusing on what officials describe as “high-quality development” across a range of sectors.
The past 24 hours of the Russia-Ukraine war have seen a drastic escalation in both aerial bombardment and frontline losses.
Iran reopened the Strait of Hormuz to commercial shipping on Friday (17 April) for the first time since the U.S. and Israel killed Iran's ex-Supreme Leader in air strikes, triggering the Middle East conflict, at the end of February. A U.S. blockade on Iranian ports, however, remains in force.
Russia published addresses of manufacturers allegedly producing drones or components for Ukraine on Wednesday (15 April), warning European countries against plans to step up UAV supplies to Kyiv.
Iran's Islamic Revolutionary Guards Corps (IRGC) said in a Saturday statement that the Strait of Hormuz has returned to its "previous state" under the control of its "armed forces," citing the ongoing U.S. blockade on Iranian ports.
Netflix shares fell sharply on Friday after the streaming group issued a weaker-than-expected outlook and said chairman and co-founder Reed Hastings will step down from the board.
Netflix shares fell sharply on Friday after the streaming group issued a weaker-than-expected outlook and said chairman and co-founder Reed Hastings will step down from the board.
The Middle East crisis is reshaping transport choices worldwide, turning electric vehicles from a long-term climate goal into an immediate economic calculation.
China’s export growth slowed sharply in March, as the fallout from the Middle East conflict pushed up energy and shipping costs, weakening global demand and exposing risks in Beijing’s reliance on manufacturing to drive growth.
A French fashion label is placing China at the heart of its global ambitions, choosing Shanghai for its worldwide debut in a move that shows growing confidence in the country’s consumer market and cultural influence.
Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with many of the reductions expected to affect its marketing division, The Wall Street Journal reported on Wednesday, citing sources familiar with the plans.
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