The Latest Breaking News from International Monetary Fund

The majority of Americans now fear a recession, even as Donald Trump conceded ultra-high tariffs on China would fall but would not hit zero

Public sector net borrowing rose to £151.9 billion in the year to the end of March - equal to £95,300 per household

New figures come as the UK’s growth forecast is slashed

In today’s newsletter: ​As world leaders gather in the UK this week, any hope of breaking the deadlock when Russia and Ukraine refuse to compromise could mean the US walks away

The chancellor will have her first face-to-face meeting with US Treasury secretary Scott Bessent

Donald Trump says tariffs on China will be dropped “substantially” as IMF warns of ‘major negative shock’ from tariffs – key US politics stories from 22 April

Rachel Reeves will meet American counterpart Scott Bessant for talks on an economic deal between the US and UK

Australia expected to lose $13bn in output thanks to Trump tariffs, body says; Nine awards third debate to Peter Dutton after familiar exchanges

Predictions for U.S. and global economic growth are down since January.

The S&P 500 Index ($SPX ) (SPY ) Tuesday closed up +2.51%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +2.66%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +2.63%. June E-mini S&P futures (ESM25 ) are up +2.52%, and June E-mini Nasdaq futures...

The dollar index (DXY00 ) Tuesday rose by +0.65%. The dollar rallied moderately Tuesday and rebounded from Monday's 3-year low. Short covering emerged in the dollar Tuesday on trade deal optimism after US trade negotiators said they have made "significant progress" toward a bilateral trade deal with India following talks...