Donald Trump’s trade war created turmoil in global markets. Stocks and oil prices declined due to fears of China’s response. Trump paused tariffs for 90 days, raising hopes. Treasury Secretary Scott Bessent mentioned trade negotiation interests from many countries. Uncertainty led to volatile trading. The US and Vietnam agreed to trade talks.
US inflation tops 4% for first time in three years, keeping Fed hike in play
US inflation climbed to 4.1% in May, driven by rising energy prices, keeping the Federal Reserve’s interest rate hike plans on the table for September.