Emkay Global said another round of dollar appreciation looks likely, which would hurt equities and the currency, making the February 2025 rate cut much more difficult.

Stocks swung lower Friday after the White House confirmed it will impose tariffs on Mexico, Canada and China beginning tomorrow.

Investors are bracing for a potential trade war that could hit the earnings of major companies and dent global growth. Canada and Mexico have said that they will hit back with retaliatory tariffs while China promised to respond with "corresponding countermeasures" and vowed to challenge Trump's move at the World Trade Organization.

Chinese stocks listed in Hong Kong will come under renewed pressure when they resume trading on Monday following a three-session break, after US President Donald Trump fired the first salvo of his tariff war.

A hiss and puff of compressed air shapes the smooth leather, bringing to life an all-American cowboy boot in a factory on China's eastern coast. Then comes another one as the assembly line continues,