Finance

Asian stocks followed Wall Street lower on Tuesday after China let its currency sink and halted purchases of U.S. farm goods, fueling fears Beijing’s trade war with President Donald Trump will harm the global economy. China’s main index lost 1.5% and Australia’s was down 2.3%. Markets in Tokyo, Hong Kong and Seoul also retreated. Beijing […]

The U.S. Treasury Department labeled China a currency manipulator Monday after Beijing pushed down the value of its yuan in a dramatic escalation of the trade conflict between the world’s two biggest economies. The decision, which came hours after President Donald Trump accused China of unfairly devaluing its currency, marks a reversal for Treasury: In

NEW YORK, Aug 5 (Reuters) – Stock markets around the world fell hard and the Chinese yuan weakened to an 11-year low on Monday as fears of an escalation in the U.S.-China trade war jolted financial markets. China on Monday let the yuan tumble beyond the key 7-per-dollar level for the first time in more

A weaker renminbi blunts President Trump’s tariffs on Chinese-made goods. But the strategy carries risks beyond worsening relations with the United States. This article was originally published in 2018 and was updated on Aug. 5 after China’s currency fell. As the United States and China swap threats and mete out increasingly punishing tariffs, the world

The pace of expansion for U.S. services companies fell to its slowest pace in nearly three years, as gauges of business activity and new orders weakened. The Institute for Supply Management, an association of purchasing managers, said Monday that its non-manufacturing index fell to 53.7 from 55.1 in June. The July measure was the weakest

President Donald Trump accused China of manipulating its currency after Beijing let the yuan fall to a politically sensitive level against the U.S. dollar for the first time in 11 years. The move raised concern that China could use its currency as a weapon in a trade war with Washington “It’s called ‘currency manipulation,’ ”

U.S. stocks nosedived in early trading on Wall Street Monday as China’s currency fell sharply and stoked fears that the trade war between the world’s two largest economies would continue escalating. China let its currency, the yuan, sink to an 11-year low against the dollar and under the politically sensitive level of seven per dollar.

BEIJING — The trade war between the United States and China may be about to enter a more dangerous phase, one that could saddle the global financial system with new risks at an already turbulent time. That prospect, which would see Beijing using the value of its currency as a weapon to strike back at

Asian stock markets fell for a third day Monday after China allowed its yuan to sink to an 11-year low following President Donald Trump’s latest tariff threat. Tokyo’s main index fell 2.1% and Hong Kong’s benchmark lost 2.9%. Shanghai, South Korea and Australia also retreated. China’s central bank allowed the yuan’s exchange rate to sink

For some Russians, personal debt is akin to the garden plots of their parents’ generation. In that era of post-Soviet economic depression, many families short on money grew their own food, transforming their kitchens into storerooms of pickled vegetables, dried mushrooms and sacks of homegrown potatoes. Despite the wretched poverty of those years, Russians entered