Hong Kong

US stocks erase losses, finish higher after Trump refrains from China sanctions

1 month ago   |   By

Xinhua/Wang Ying/ Getty Images
US stocks gained on Friday, reversing earlier losses after President Donald Trump's news conference on China.
Trump said he would begin taking steps to revoke Hong Kong's preferential treatment, but stopped short of imposing sanctions on China.
US consumer spending in April also posted the biggest drop on record as the personal savings rate jumped to a record 33% from 12.7%.
Oil pared rose on Friday, capping off its best month ever on a percentage return basis.
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Trump announces he's 'terminating' the US relationship with the World Health Organization

Trump announces he's 'terminating' the US relationship with the World Health Organization

1 month ago   |   By

Screenshot/White House
President Donald Trump announced on Friday that he's "terminating" the US's relationship with the World Health Organization.
Trump claimed that China pressured the WHO to "mislead the world" when the coronavirus was initially discovered in Wuhan and argued that "China has total control over" the WHO.
The WHO plays a crucial role in assisting and advising developing countries on public health crises and experts warn Trump's move could undermine global efforts to contain the coronavirus.
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