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Shares of oil companies have dropped sharply in recent days. Growth fears and expectations of more supply from OPEC+ are pressuring crude prices.

The S&P 500 was up 3.7% in morning trading, though it still remains more than 14% below its record set in February. The dominant group of U.S. stocks known as the “Magnificent Seven” is bouncing back, helping power the broad rally on Wall Street.

It wasn’t the worst day on Wall Street ever, but it may well have been the weirdest.

The US economy could be stuck in a tug-of-war that offers no good solutions for the Fed, as low growth and rising prices result in an era of stagflation.

New Zealand will not revise its economic and fiscal plans despite the turmoil in the global financial markets triggered by U.S. President Donald Trump's tariff plans, Finance Minister Nicola Willis said on Tuesday. A global trade war touched off by Trump's sweeping tariffs escalated further on Monday, as he threatened to increase duties on China and the European Union proposed its own counter-tariffs, wiping out trillions of dollars in stock market value.

TOKYO (Reuters) -Asian stocks bounced off more than one-year lows and U.S. stock futures pointed up on Tuesday, but many investors remained on edge even as they hoped Washington might be willing to negotiate some of the aggressive tariffs that have unleashed turmoil in markets. A 5.6% rebound in Japan's Nikkei far outpaced other regional markets, with Treasury Secretary Scott Bessent tasked with leading trade negotiations with Tokyo. "Importantly, a little ray of sunshine is starting to emerge that gives hope that the U.S. is genuinely open to trade negotiations, (with) the most significant being Japan with Treasury Secretary Bessent," said Tapas Strickland, head of market economics at National Australia Bank.

Humana shares jumped 11% in extended trading on Monday after the federal government said it would pay Medicare insurers more next year than previously expected. Monitor these key chart levels.

Wall Street's top minds aren't happy about Trump's latest tariffs, which have fueled the worst stock sell-off since 2020.

US tech billionaires have lost more than $400 billion in wealth so far this year, with Tesla CEO Elon Musk leading the way with a $130 billion drop.

NEW YORK/LONDON (Reuters) -The U.S. dollar weakened against major currencies including the yen and euro, while China's offshore yuan hit a record low on Tuesday, amid trade disputes sparked by President Donald Trump's sweeping tariffs that have roiled markets for three days. The Japanese yen and Swiss franc continued to benefit from appetite for safe-havens, however, as investors remain concerned about the potential for a global recession. Markets are bracing for a war of attrition between the U.S. and China.