Announcement of tariffs on $20bn worth of US goods follows through on Mark Carney's vow to match US tariffs 'dollar for dollar'

Confidence index drops to 89.4 in August from 90.2 in July amid frustration after five years of elevated inflation

Americans’ confidence in the economy declined again this month as the ongoing conflict in Iran continued to push US gasoline prices above $4 per gallon.

The Conference Board said on Tuesday that its consumer confidence index dipped to 89.4 in August from 90.2 in July. That was the lowest level in seven months but was essentially within the same lukewarm range it has been in since the beginning of the year. In late 2024 and early 2025, readings were consistently above 100.

Trump ally should cut budget deficit rather than try to suppress bond yields, says billionaire Stanley Druckenmiller

Scott Bessent’s attempt to calm the bond markets and push down America’s cost of borrowing have attracted a rebuke from the US Treasury secretary’s former mentor.

The billionaire investor Stanley Druckenmiller, who worked with Bessent at George Soros’s fund management firm in the 1990s, has warned that his former pupil is courting danger by trying to suppress US bond yields.