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President Donald Trump said he is not looking to pause his tariffs before they go into effect Wednesday, despite turmoil in the stock market and global economic fears.
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Markets briefly rebounded on rumors that Trump might pause tariffs, but the White House swiftly dismissed the reports as false.
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Stocks have approached bear market levels as President Donald Trump's new tariffs have sparked concerns of a recession.
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European defense giants whipsawed on Monday, abruptly paring losses as investors continue to grapple with a broad stock market downturn.
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The business sector has tried to avoid criticizing Trump in public and welcomed his vows of lower taxes and deregulation, but the market sell-off appears to have loosened more tongues on Wall Street.
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Leaders across Asia issued a flurry of statements to shore up confidence and attempt to avert economic crisis, but China, analysts said, is ready for a showdown.
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