Tech billionaire Elon Musk made direct appeals to US President Donald Trump over the weekend, urging him to reverse tariffs on imports. This is the highest-profile disagreement between the two leaders. Trump’s 10% tariff on all US imports and higher duties on dozens of countries are expected to have significant economic implications. Musk’s calls come … Read more
US stocks fell on Monday, extending a sell-off that has swept across global markets as investors feared economic devastation from President Trump’s tariffs. The Dow Jones Industrial Average plummeted nearly 350 points, or 0.9%, while the S&P 500 lost 0.2% and the Nasdaq gained 0.1%. Trillions of dollars have been wiped out globally since Trump … Read more
China’s stock market rebounded on Monday after a historic selloff, with state-linked funds known as the national team buying assets and the central bank promising loans to help stabilize the market. The Hang Seng China Enterprises Index closed up 2.3%, while the CSI 300 Index ended 1.7% higher. To calm investors’ nerves, officials and executives … Read more
Nintendo has confirmed that the Switch 2 carts will retain the bitter taste coating designed to prevent children and animals from accidentally eating them. The coating, made of a substance similar to denatonium benzoate used by farmers to deter animal consumption, is intended to encourage users to spit it out rather than ingest it. According … Read more
The US Supreme Court has ruled that the Trump administration can resume its deportations of Venezuelans under an 18th-century law, as long as they are given a court hearing. In a 5-4 decision released on Monday evening, the justices overturned a lower court order temporarily blocking the government from carrying out the policy. The ruling … Read more
The US stock market is experiencing extreme volatility amid heavy selling and President Trump’s tariff strategy, which has led to the Nasdaq Composite entering bear market territory last week. The S&P 500 briefly hit a bear market, with the Dow Jones Industrial Average shy of its own mark. However, experts advise against panic selling, emphasizing … Read more
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China’s central bank, the People’s Bank of China (PBOC), has pledged to provide funding support to the country’s sovereign fund when needed. The move aims to stabilize the market and ensure capital stability. According to a statement released on Tuesday, the PBOC will step up its re-lending program to Central Huijin Investment Ltd., a key … Read more
The global trade war declared by the US has sent shockwaves through the stock market, but it’s having a devastating impact on another market – cryptocurrency. Bitcoin, once touted as a symbol of financial freedom and a potential safe-haven asset, is now plummeting in value. As of April 6, the price of Bitcoin fell sharply … Read more
Elon Musk recently escalated a feud with former White House trade adviser Peter Navarro after Navarro claimed that Tesla cars were assembled in the US from parts manufactured abroad. This exchange comes as Democrats increasingly rely on ballot initiatives to shape policy, while Republican lawmakers attempt to limit foreign funding ahead of the midterm elections. … Read more