CNN By Anna Cooban, CNN London (CNN) — Wealthy business leaders are turning on US President Donald Trump over his plan to impose a colossal set of tariffs on America’s trading partners, as losses mount on stock markets around the world. Billionaire investor Bill Ackman, who endorsed Trump’s 2024 presidential bid, warned Sunday that going
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CNN By Hadas Gold and Brian Stelter, CNN New York (CNN) — An errant post on X may have just shaken the stock market, showing how influential — and unreliable — the social media platform can be. Unsourced “headlines” about a potential “90-day pause in tariffs” sent markets into a state of turbulence Monday morning
Continue ReadingBy Chris Isidore, CNN (CNN) — These are nervous times for Tesla bulls on Wall Street. They now believe the future ain’t what it used to be, to paraphrase noted market analyst Yogi Berra. In recent weeks, even some of Tesla’s biggest analyst fans are changing course. They’re cutting their lofty 12-month price targets and
Continue Reading By Anna Cooban, CNN London (CNN) — Wealthy business leaders are turning on US President Donald Trump over his plan to impose a colossal set of tariffs on America’s trading partners, as losses mount on stock markets around the world. Billionaire investor Bill Ackman, who endorsed Trump’s 2024 presidential bid, warned Sunday that going ahead
Continue ReadingBy Alicia Wallace, CNN (CNN) — The decades-long softwood lumber dispute between the US and Canada is escalating even before planned tariffs take effect: The US plans to more than double existing anti-dumping and countervailing duties on the critical building material. The US Department of Commerce, as part of an annual review process, plans to
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By Hadas Gold and Brian Stelter, CNN New York (CNN) — An errant post on X may have just shaken the stock market, showing how influential — and unreliable — the social media platform can be. Unsourced “headlines” about a potential “90-day pause in tariffs” sent markets into a state of turbulence Monday morning as
Continue ReadingBy Lisa Eadicicco, CNN New York (CNN) — Nintendo found what works — and it’s not turning back. That’s the impression the company gave last week when it introduced the Switch 2, which launches June 5 and costs $450 — substantially more than its $300 predecessor. Nintendo’s next-generation console is a significantly upgraded version of
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By David Goldman, John Towfighi and Matt Egan, CNN New York (CNN) — US stocks mostly fell after an extremely volatile day Monday — tumbling, surging and then bouncing around in every direction, as traders searched for any sign that President Donald Trump’s tariffs could be negotiated or halted. Markets around the world had tumbled
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By David Goldman and Matt Egan, CNN (CNN) — JPMorgan CEO Jamie Dimon has issued a blunt warning about President Donald Trump’s tariff policy: It threatens to raise prices, drive the global economy into a downturn and weaken America’s standing in the world. “The recent tariffs will likely increase inflation and are causing many to
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By Harry Enten and Matt Egan, CNN New York (CNN) — President Donald Trump warned Americans in 2024 that a vote for Vice President Kamala Harris would be a vote for a market meltdown. “You want to see a market crash? If we lost this election, I think the market would go down the tubes,”
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By Allison Morrow, CNN New York (CNN) — It is wise for investors “to be fearful when others are greedy and to be greedy only when others are fearful,” according to one of Warren Buffett’s classic aphorisms. But it’s not easy to pinpoint the mood on the Street. Markets are notoriously unpredictable, propelled by “animal
Continue ReadingBy Simone McCarthy, CNN Hong Kong (CNN) — As countries around the world scramble to negotiate concessions from US President Donald Trump’s escalation last week of a global trade war, China has taken a different tack. Within 48 hours of Trump’s market-hammering tariffs announcement, the world’s second-largest economy swiftly retaliated with its own punitive measures
Continue ReadingCNN By Jade Walker, CNN (CNN) — The US Naval Academy has removed 381 books from the Nimitz Library to comply with the Trump administration’s decision to remove diversity, equity and inclusion efforts from the federal government. Among the texts that cadets are no longer allowed to access are: “I Know Why the Caged Bird
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By Juliana Liu and John Liu, CNN Hong Kong (CNN) — Global markets plunged on Monday, deepening a global stocks rout triggered by US President Donald Trump’s trade war and China’s forceful response to unexpectedly high tariffs. Germany’s Dax opened down 9%, while London’s FTSE was about 5% lower. European markets were, on the whole,
Continue ReadingCNN By Robert Ilich and David Goldman, CNN (CNN) — The tariff-induced market mayhem isn’t over just yet. US stock futures plunged Sunday evening after two sessions of sell-offs that wiped away over $5.4 trillion in market value. Stocks were set to open sharply lower Monday, putting the S&P 500 on the precipice of a
Continue ReadingBy Robert Ilich, David Goldman and Samantha Waldenberg, CNN (CNN) — The tariff-induced market mayhem isn’t over just yet. US stock futures plunged Sunday evening after two sessions of sell-offs that wiped away over $5.4 trillion in market value. Stocks were set to open sharply lower Monday, putting the S&P 500 on the precipice of
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By Auzinea Bacon, CNN (CNN) — The blockbuster adaption of the 2011 video game “Minecraft” shattered box office estimates, grossing $157 million domestically, and marking the biggest opening weekend of the year. Industry analysts initially projected Warner Bros. Pictures’ “A Minecraft Movie” would gross $60 million before adjusting that estimate to about $100 million. Warner
Continue ReadingBy Jeanne Sahadi, CNN (CNN) — Having financial flexibility in retirement — especially in being able to maximize your spending while minimizing your taxes — is an optimal situation. And it’s one you can arrange by keeping at least some of your retirement savings in a tax-free account. “You’re giving yourself more options in the
Continue ReadingBy Auzinea Bacon, CNN (CNN) — More than 60 protests were planned for Saturday, and a dozen more for Sunday, at Tesla showrooms across the United States, as backlash continues against CEO Elon Musk for his cost-cutting role at the Department of Government Efficiency. Just a week after more than 200 demonstrations took place at
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By Robert Ilich, CNN (CNN) — Elon Musk, the world’s richest man and the face of the Trump administration’s Department of Government Efficiency, said Saturday that he hopes for a “zero-tariff situation” between Europe and the United States. “At the end of the day, I hope it’s agreed that both Europe and the United States
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By Jordan Valinsky, CNN New York (CNN) — Mega Millions is getting a makeover — including more than doubling the price of a ticket — as the multi-state lottery game aims to improve players’ odds and dish out bigger jackpots. The lottery, which is available to play in 45 states plus Washington, DC, and the
Continue ReadingBy Bryan Mena and Alicia Wallace, CNN (CNN) — The massive tariffs that President Donald Trump announced for dozens of trading partners Wednesday were pitched as “reciprocal,” simply aiming to match the tariffs other countries charge the United States. But the methodology behind Trump’s attempt to rebalance trade has nothing to do with the tariff
Continue ReadingBy Anna Cooban, CNN Birmingham, UK (CNN) — Will Timms is a very busy man. The pest controller spends his days criss-crossing Britain’s second-largest city to remove rats, cockroaches and other unwanted creatures from people’s homes. Lately, Timms’ phone has barely stopped ringing as some 17,000 metric tons of garbage have piled up on Birmingham’s
Continue ReadingBy David Goldman, CNN (CNN) — America has a brand new tax on virtually every item that comes over its border: 10%. The universal tariff went into effect Saturday at 12:01 a.m. ET after President Donald Trump signed an executive order earlier in the week requiring a baseline tax for all imports. The announcement sparked
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By Bryan Mena, CNN Washington (CNN) — Inflation is likely to pick up because of President Donald Trump’s sweeping tariffs, and could remain elevated, Federal Reserve Chair Jerome Powell said Friday. “We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation,” he said at an event just outside Washington,
Continue ReadingBy Liam Reilly, CNN (CNN) — If a picture is worth a thousand words, then D.W. Pine — Time’s creative director of 26 years who recently published his thousandth cover — certainly has a lot to say. Pine, who took the top job in 1998, has put the world’s most recognizable faces within the storied
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By Clare Duffy and Alayna Treene, CNN New York (CNN) — President Donald Trump announced on Friday that he will again delay enforcement of the TikTok sale-or-ban law for 75 days, as his staff continues to work on a deal to preserve access to the app in the United States. “My Administration has been working
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By Alicia Wallace, CNN (CNN) — The US economy added a stronger-than-expected 228,000 jobs in March, a significant increase from February’s revised gains of 117,000, according to Bureau of Labor Statistics data released Friday. The unemployment rate ticked higher to 4.2% from 4.1%. Economists were expecting job growth to slow to 130,000 in March and
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CNN By David Goldman and John Towfighi, CNN New York (CNN) — US stocks were battered by a steep sell-off Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war. The Dow plunged by 2,231 points, or 5.5%. The broader S&P 500 was
Continue ReadingBy Nathaniel Meyersohn, CNN New York (CNN) — Restaurant industry icons where Americans went out for decades for wings, dinner, and celebrations are facing a crisis. Hooters filed for bankruptcy this week, the latest casual dining chain to go belly up. Red Lobster, TGI Fridays and Buca di Beppo also filed for bankruptcy in the
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