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WASHINGTON (Reuters) -U.S. business activity nearly stalled in February amid mounting fears over tariffs on imports and deep cuts in federal government spending, erasing all the gains notched in the aftermath of President Donald Trump's election victory. The tumble in activity to a 17-month low reported by S&P Global on Friday was the latest in a string of surveys to suggest that businesses and consumers were becoming increasingly rattled by the Trump administration's policies. "The Trump business honeymoon is over, it seems," said Kyle Chapman, FX markets analyst at Ballinger Group.

Billionaire Elon Musk once again suggested that the Federal Reserve should undergo closer scrutiny, saying Thursday at a gathering of conservatives that he plans to audit the central bank.

(Bloomberg) -- Mexico’s economy posted the biggest quarterly contraction since 2021, with domestic demand and private investment faltering just as tensions with its top trade partner mount. Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalTrump Targets $128 Billion California High-Speed Rail ProjectAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’Sorry, Kids: Disney’s New York Headquarters Is

The Fed board, he said, should resist initiatives that impede effective supervision by discouraging examiners to flag issues early, or ones that add to the process unnecessarily, he said.

The S&P 500 suffered its largest single-day percentage drop since December 18, as did the small cap Russell 2000. For the week, all three indexes lost ground, with the Dow registering its steepest Friday-to-Friday plunge since mid-October. "I don't like all this red on a Friday," said Greg Bassuk, CEO at AXS Investments in New York.

Studies show this generation facing rising costs of living, high debt levels, and economic uncertainty, but they are actively seeking financial education and stability.

When German voters go to the polls Sunday, the country’s moribund economy — and promises to fix it — will be front of mind. But Donald Trump’s looming import tariffs will make that daunting task even harder for the new government.