News

The stock market rebounded on Monday, buoyed by data on retail sales that showed the economy is still growing, but investors remain nervous about the potential impact of the Trump administration's tariffs. Tesla shares slid nearly 5% after the company warned that the White House's trade policies could hurt EV manufacturers.

While February's retail sales growth fell short of expectations, raising concerns about an economic slowdown, strong consumer fundamentals and continued job growth suggest that consumer spending will likely remain healthy in the near future. This indicates that the economy may be experiencing a period of slower growth, but not necessarily a full-blown recession.

South Africa's Ambassador Ebrahim Rasool was expelled from the US after accusing President Trump of pursuing "white supremacist" policies. This incident has sparked a diplomatic row between the two countries, with South Africa expressing disappointment and calling for closed-door discussions to resolve the issue.

President Trump's tariffs on imported construction materials could add $9,200 to the cost of a typical home, leading to higher costs for both builders and consumers. The tariffs are causing uncertainty and volatility in the housing market, making developers and homebuyers hesitant to move forward with projects.

Forever 21's U.S. retail operator has filed for bankruptcy for the second time, citing declining mall traffic, rising inflation, and fierce competition from online retailers and foreign fast-fashion companies. The company plans to wind down its U.S. operations, but is exploring the possibility of a sale that would allow it to continue operating online or through licensing agreements.