Investors are winding down another volatile week with U.S. stocks are pace to wrap a losing week. Federal Reserve Chairman Jerome Powell fired a warning over tariffs, on Thursday President Trump clapped back calling for Powell to cut rates.

Prime Minister Giorgia Meloni of Italy will meet with Mr. Trump at the White House today, becoming the latest in a line of European leaders seeking to curry favor with his administration. Ms. Meloni’s relationship with the president has stoked speculation that she could adopt an Italy-first approach,