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U.S. markets slipped as investors digested escalating political tensions with Trump firing a Fed governor and looming trade tariffs. The Dow fell around 350 points, with tech stocks closely watching Nvidia’s upcoming earnings. Asian markets followed Wall Street down amid global growth concerns and regulatory uncertainties.
President Trump escalates his long-standing battle over Federal Reserve control by firing Governor Lisa Cook amid allegations of mortgage fraud. This move signals a heightened political struggle over central bank independence and governance.
200% – Potential tariff Trump threatens to impose on China over rare earth magnets supply
Trump threatens to impose massive tariffs on China, demanding rare earth magnet supplies. The president warns of 200% tariffs if China curbs exports, highlighting ongoing trade tensions and industrial supply chain pressures.
Keurig Dr Pepper moves to acquire Peet’s Coffee owner in an $18 billion deal, effectively unwinding its previous merger and splitting into separate coffee and soft drink companies. The transaction signals shifts in the beverage industry amid tariff and market challenges.
Databricks Eyes $100 Billion Valuation Backed by AI Growth Demand
Analytics firm Databricks is set for a valuation jump to over $100 billion, underscoring investor confidence in AI-driven expansion strategies.
More on theglobeandmail.com
SpaceX scrubs its highly anticipated Starship Flight 10 test due to weather and technical issues, marking another setback as the company pushes for breakthroughs in its Mars ambitions. Launch delays continue amid development challenges.
South Korean President Lee Jae Myung meets with President Trump to discuss enhanced cooperation on North Korea and trade. The talks aim to improve bilateral relations amidst trade frictions and geopolitical tensions on the Korean Peninsula.
rsted Stock Plummets to Record Low After Trump Halts US Wind Farm
Shares of Danish renewable giant rsted dropped 18% after the Trump administration ordered a stop to construction on its $1.5 billion US offshore wind project.
More on nytimes.com
Elon Musk’s AI startup xAI files antitrust lawsuits against Apple and OpenAI, accusing the tech giants of collusion that stifles competition in the AI chatbot market. The legal battle intensifies Musk’s feud with major AI players.
Hong Kong stocks dip amid investor profit-taking and uncertainties about US Federal Reserve rate cuts and US-China trade negotiations. Market volatility reflects global economic and policy concerns.
The Trump administration threatens sanctions on EU officials over Digital Services Act enforcement and plans higher tariffs on imported furniture within 50 days, reshaping trade policy.
US and South Korean nuclear companies sign a cooperation agreement, enhancing strategic partnership in nuclear energy and technology during heightened regional tensions.
U.S. postal services and European carriers suspend shipments to the US amid the expiration of the ‘de minimis’ tariff exemption and increasing import tax regulations, disrupting logistics and cross-border commerce.
I have determined that there is sufficient cause to remove you from your position.
— President Donald Trump on firing Fed Governor Lisa Cook
China’s property giant Evergrande is officially delisted from the Hong Kong stock exchange, marking another milestone in its collapse and the ongoing challenges facing China’s real estate sector.
Trump’s administration is intensifying efforts to control crime by deploying National Guard troops in Washington, D.C., who have begun carrying firearms. The federal crackdown raises legal and political debates around militarized policing.
Bitcoin and major cryptocurrencies retreat with bitcoin sliding below $110,000 amid profit-taking and market rotation to risk-off assets, signaling lingering volatility and uncertainty in digital asset markets.
Several activists, governments, and organizations express condemnation over deadly Israeli strikes on Gaza hospitals, which have killed journalists and first responders, intensifying international scrutiny of the conflict.
Philippine government eyes creating a $10 billion bitcoin reserve fund locked for 20 years, aiming to combat the nation’s rising debt and explore crypto as a new fiscal tool.
Japanese chip gear makers struggle to capitalize on the global AI hardware boom, left out of Nvidia’s growth, with supply chain and price challenges impacting profit margins.
Trump administration moves to impose sanctions on EU officials implementing the Digital Services Act, escalating tensions over digital taxation policies affecting American tech giants abroad.
Korean Air announces a historic $50 billion deal to purchase over 100 Boeing jets, marking the airline’s largest order ever amid a summit between Trump and South Korea’s leadership.
Amazon shares decline after Q2 earnings despite rebounding from earlier selloff; meanwhile, the company faces escalating measures to block AI data scraping by major tech firms, highlighting tightening e-commerce controls.
Nvidia prepares for key quarterly earnings report as markets scrutinize AI chip leader’s growth prospects and potential impact on broader market rallies. Investor focus intensifies ahead of Wednesday’s announcement.
Powerball jackpot climbs to a staggering $750 million, becoming the 10th largest prize in the lottery’s history, attracting massive attention ahead of Monday’s drawing.
Illinois Governor JB Pritzker issues a direct rebuke to President Trump’s plan to deploy federal troops to Chicago amid rising crime concerns, calling it an overreach and urging the president not to come to the city.
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