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Stocks tumble to worst day in six weeks after Trump tariff action

NEW YORK U.S. stocks slumped on Thursday as President Donald Trump's move to impose tariffs on up to $60 billion of Chinese imports drove fears about the impact on the global economy, fueling the biggest percentage declines in Wall Street's three major indexes since they entered correction territory six weeks ago. | Video

Recent Business News

Goldman Sachs CEO says sovereign balance sheets look risky

BOSTON Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said on Thursday sovereign country balance sheets look risky to him as deficits become a larger percentage of their gross domestic product.

4:12pm EDT

Ackman exits Nike stake with $100 million in profit: source

Investor William Ackman has stepped out of his Nike sneakers, at least in a financial sense.

3:53pm EDT

U.S. Justice Department urges judge to block AT&T-Time Warner merger

WASHINGTON The U.S. Justice Department squared off on Thursday with AT&T Inc in a long anticipated trial, as the two sides disputed whether AT&T's $85 billion purchase of Time Warner Inc would be good for consumers or an expensive drag on innovation. | Video

6:48pm EDT

Citi sets restrictions on gun sales by retail clients

Citigroup Inc added restrictions on firearms sales for new retail-sector clients, the Wall Street bank said on Thursday, the strongest move to date by a major U.S. lender following last month's high school shooting in Florida.

6:54pm EDT

Nike tops revenue, profit estimates on strong global sales

Nike Inc's quarterly revenue and profit beat analysts' estimates on Thursday, helped by robust demand in its international markets and initiatives such as selling directly to customers.

4:57pm EDT


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