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The US president, who has vowed to remake the global trade order, dismissed concerns, noting the US jobs market is strong.
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Stocks hadn't fallen this far this fast since the early days of the coronavirus pandemic. A 9.1 percent drop in the S&P 500 is the steepest weekly decline since March 2020.
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Fed Chair Jerome Powell said a new trade war would probably cause higher inflation and slower growth.
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A plunging FTSE 100 dominates the headlines while Russell Brand's rape trail looms next month
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The remarks came as U.S. stocks plummeted over an escalating trade war.
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