Investors are winding down another volatile session, with U.S. stocks on pace to wrap a losing week. Federal Reserve Chairman Jerome Powell fired a warning over tariffs, on Thursday President Trump clapped back calling for Powell to cut rates.

Italy's Prime Minister Giorgia Meloni's meeting with Trump is testing her mettle as a bridge between the EU and the United States.

Concern over the economic fallout from US President Donald Trump's global tariffs mounted Wednesday, with Fed Chair Jerome Powell's warning of higher inflation sending stock markets tumbling.

Trump imposed 10% tariffs on goods from all countries and higher tariffs for countries the administration says have high barriers to U.S. imports, most of which he later paused for 90 days. He also imposed a 145% tariff on China,

Gov. Gavin Newsom on Wednesday announced a lawsuit alleging that President Trump lacks the authority to enact the international tariffs without the support of Congress.

The U.S. already imposed tariffs on some Chinese products of up to 100%. Add that to the 145% in new tariffs and some products face 245% tariffs.

The Trump administration gave the tech industry and consumers a collective heart attack this morning with a statement that suggested the US would raise tariffs on China to 245%. The White House published an official fact sheet that said,

China now faces tariffs of up to 245% on exports to the U.S., following escalating trade tensions sparked by U.S. tariffs on Chinese goods. In retaliation, Beijing halted Boeing jet deliveries and aircraft part purchases.