Elon Musk's net worth fell below the $200 billion mark Tuesday as Tesla shares fell, leading some experts to speculate he is too distracted by Twitter.
The recent surge in geopolitical risks has reminded companies and the U.S. government that stable trade relationships can no longer be taken for granted.
Federal Reserve Chairman Jerome Powell pledged to cool painfully high inflation, but warned that higher interest rates could bring "pain" to the economy.
The personal consumption expenditures index, which is closely watched by the Federal Reserve as it tries to wrestle inflation back to 2%, rose again in July.