Senators from both parties slammed Meta CEO Mark Zuckerberg over the company's ties to China, accusing him of risking Americans' data while pursuing business opportunities there, and demanded his testimony before Congress to address these concerns.
Stocks plunged on Thursday, erasing gains from the previous day's rally, as investors grappled with the uncertainty surrounding President Trump's 90-day tariff reprieve and the potential for escalating trade tensions with China.
Nvidia, a leader in AI chips, faces challenges navigating Trump's trade tensions and tariffs that threaten its global supply chain and exports to China, prompting CEO Jensen Huang to fortify the company's dominance through expanding research and talent pipelines worldwide.
Oil prices plummeted to 2021 lows as escalating trade tensions and OPEC+'s output hike stoked fears of a supply glut, potentially crippling Russia's economy and challenging Trump's 'drill, baby, drill' agenda, though some producers aim for growth.
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.
Chip stocks plunged despite being exempted from tariffs, signaling persistent industry headwinds stemming from potential semiconductor-specific tariffs, weakening demand due to existing tariffs, uncertainties around export restrictions, AI regulations, and infrastructure project pullbacks.
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.
President Trump declared a national emergency to impose tariffs on imports, aiming to counter unfair trade practices, reshore manufacturing, and stimulate domestic production, while arguing that these measures can reduce threats to national security and achieve economic objectives.
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.
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.