In a wide ranging interview with Fortune, the former Treasury Secretary also says we're already seeing the first signals of a possible recession.
(Reuters) -Morgan Stanley beat first-quarter profit estimates on Friday, helped by record equity trading and strong wealth management results. U.S. President Donald Trump's decision to impose heavy tariffs on major economies and the launch of China's generative AI model, DeepSeek, triggered a broad selloff in global markets. "The volatility increased trading activity and there was deleveraging," said Chief Financial Officer Sharon Yeshaya, adding that clients continued to be active.
(Bloomberg) -- President Donald Trump is casting his latest tariff plan as a strategic win. Markets and business leaders only see more chaos ahead. Most Read from BloombergMidtown Office Building Evacuated on Concerns of Wall CollapseIn Chicago, a Former Steel Mill Looks to Make a Quantum LeapThe Secret Formula for Faster TrainsNYC Tourist Helicopter Crashes in Hudson River, Killing SixInside the Quiet, Extravagant Expansion of the Frick CollectionStock plunged on Thursday, as anxiety spiked amo
For the ultra wealthy, the market whipsaw presents opportunities. For average Americans? Not so much, state officials said.
Industrial supplier Fastenal (NASDAQ:FAST) met Wall Street’s revenue expectations in Q1 CY2025, with sales up 3.4% year on year to $1.96 billion. Its GAAP profit of $0.52 per share was in line with analysts’ consensus estimates.
Despite President Donald Trump's 90-day pause on most tariffs, markets are not out of the woods.
SINGAPORE/LONDON (Reuters) -The pain, said Shuntaro Takeuchi, was 10 out of 10. Not in the portfolio of Japanese stocks he runs out of Palo Alto, California, but in his appendix. The 10 trading days since U.S. President Donald Trump hit automakers with tariffs have been the most convulsive since the pandemic panic of 2020, as prices of stocks to bonds, oil, gold and even the U.S. dollar itself have swung wildly.
In response to a trade war that experts say will hurt contractors in both countries, some Canadian jurisdictions have blocked U.S. firms from bidding on government contracts.
The tit-for-tat retaliation between the U.S. and China could wipe out all bilateral trade between the the world's two largest economies.
Chinese bourses have set daily restrictions on net share sales by hedge funds and large retail investors, four sources said on Friday, as Beijing steps up support for its stock markets in an intensifying trade war with the United States. Two investor sources said a soft limit on daily net sales by individual hedge funds and big retail investors - implemented through verbal warnings from brokerages - had been set at 50 million yuan ($6.83 million). Failure to comply risked a suspension of trading accounts by the stock exchanges, which have issued the directive, two brokerage sources said.