The escalating trade war triggered a massive Wall Street selloff and retaliatory tariffs from allies like Canada and the UK, signaling an intensifying global economic clash with far-reaching consequences.
The Federal Reserve faces a delicate balancing act as Trump's tariffs threaten to boost inflation while simultaneously slowing economic growth, potentially forcing the Fed to choose between curbing rising prices or supporting a faltering economy amid forecasts of soaring inflation and stagnant or recessionary growth.
US stocks plummeted in Q1 2023, their worst quarter in 3 years, as investors fled to safe havens ahead of President Trump's April 2nd announcement threatening sweeping global tariffs, sparking fears of stagflation, recession and deglobalization despite some experts' skepticism that Trump's tariffs alone can reverse globalization.
SoftBank Group plans to invest up to $40 billion in OpenAI, with $10 billion upfront and up to $30 billion more by 2026, to support OpenAI's quest for Artificial General Intelligence and ultimately Artificial Super Intelligence for the advancement of humanity.
An undercover sting operation uncovered a convicted fraudster running shady whisky investment schemes under aliases, exposing tactics used by criminals to scam investors and emphasizing the need for diligent background checks in the whisky trade.
Amid escalating trade tensions fueled by President Trump's tariff policies, hedge funds are rapidly dumping technology stocks at the fastest rate in six months, with sentiment among these investors described as 'very bearish' and 'very cautious' due to heightened market volatility.
Inflation defied predictions by climbing higher in February, with the core PCE price index rising 0.4% and the 12-month rate hitting 2.8%, complicating the Federal Reserve's decisions on future interest rate moves amidst mixed consumer spending and income data.
CoreWeave, an AI computing solutions provider, adjusted its IPO pricing amid market volatility, raising $1.5 billion at a $19 billion valuation by pricing shares at $40, below the expected $47-$55 range, to align with buyer interest amidst macroeconomic challenges.
CoreWeave, a tech company initially eyeing a $30 billion IPO valuation, has scaled back its ambitions, now targeting a valuation closer to its $23 billion private market level and slashing its planned fundraising by half to $1.5 billion.
The Conference Board's consumer confidence index plummeted to its lowest level in over a decade, with future expectations and current conditions both declining sharply, reflecting widespread economic anxieties and pessimism about income prospects amid ongoing economic turmoil.