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Stocks resumed their slide, amid escalating fears that the U.S.-China trade war will further damage a worldwide economy that’s already slowing. Central banks in Asia and New Zealand cut rates.
China and the U.S. are scheduled to continue trade talks in Washington this week, but President Trump’s threat has blindsided Beijing, a trade analyst says.
The lawsuit seeks to prevent Deutsche Bank and Capital One from responding to subpoenas from two House panels seeking personal financial documents related to the president, his family and his company.
The House Financial Services Committee is grilling executives from seven banks Wednesday about overdraft fees and executive pay. The hearing comes 10 years after the financial crisis.
President Trump has pushed tariffs to cut the trade gap. But the United States bought more from other countries than it sold to them last year, pushing the deficit to a level not seen since 2008.
The U.S. economy expanded at a solid 2.6 percent rate during the last three months of 2018, but growth was significantly lower than it had been earlier in the year as the boost from tax cuts waned.
The nomination of Treasury Department official David Malpass already has generated controversy in the international development community.
A report says the shutdown reduced federal spending by $18 billion, although most of that will be recouped, now that the government has reopened.
President Trump is eager to tout a fast-growing economy, boosted by the tax cuts he pushed through Congress. That makes Friday’s report on gross domestic product a highly anticipated news event.