Powell says Trump tariffs could delay inflation progress — and rate cuts — by a year. A currency-market ‘avalanche’ is heading for the U.S. dollar, and the tremors started this week.

Stocks climbed on Thursday (May 8) after President Donald Trump announced a trade deal framework with the United Kingdom — the first major agreement since the US imposed widespread tariffs earlier this year.

The rule was criticized by AI chipmakers Nvidia ( NVDA, +0.3%) and Advanced Micro Devices ( AMD, +1.3%), and both stocks gained on today's news.