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German finance minister warns of tariff hit to U.S. and German economies

Germany's Finance Minister Joerg Kukies warned on Friday that U.S. tariffs would hit both the German and the U.S. economies and that Berlin was working to prevent an escalating trade war. Kukies made the statement to Reuters after meeting his U.S. counterpart, Treasury Secretary Scott Bessent, and other members of the Trump administration in Washington. Export-oriented car companies in Europe, most notably Germany's big automakers, are heavily exposed.

US drillers cut oil and gas rigs for first time in three weeks, Baker Hughes says

(Reuters) -U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by one to 592 in the week to March 28. Baker Hughes said this week's decline puts the total rig count down 29 rigs, or 5% below this time last year.

Treasuries Soar Amid Mounting Economic Anxiety Into Quarter-End

(Bloomberg) -- Treasuries rallied after data suggested US economic growth is slowing, and falling US stock prices stoked demand for bonds. Most Read from BloombergGold-Rush Fever Returns to Historic New Zealand Mining TownWhat Frank Lloyd Wright Learned From the DesertBank Regulators Fight for Desks as OCC Returns to New York TowerThese US Bridges Face High Risk of Catastrophic Ship StrikesCharter Schools, Colleges Push Muni Debt Distress Near RecordThe advance on Friday send yields across matur