Stocks surged on Friday after Senate Minority Leader Chuck Schumer said he'll support a GOP spending bill, helping the government avoid a shutdown.

What happens to federal employees, air travel and tax filing if lawmakers don’t pass new funding legislation by the weekend deadline?

Senate Minority Leader Chuck Schumer, D-N.Y., said he wouldn’t block a Republican government funding bill, reducing the odds of a government shutdown Friday night. If the Senate passes the bill, it would then go to President Donald Trump for a signature. A shutdown occurs after 11:59 p.m. ET Friday if no law is enacted by then.

The S&P 500 has fallen more than 10% from its record high, entering a correction and shedding trillions of dollars in market value.

What a week it’s been. Wall Street rallied Friday but all three major indexes closed the week in the red as President Donald Trump’s budding trade war has sent jitters through US markets.

The Russell 2000, which includes small companies that are more sensitive to downdrafts in the economy than those in the S&P 500, appears likely to enter a bear market.

Financial giants and analyst raise concerns of a possible recession if the Trump administration moves forward with high tariffs. Here's what's happening.