Wall Street’s major indexes tumbled sharply after U.S. President Donald Trump’s sweeping tariffs on key trade partners triggered fears of a trade war and global recession. Investors reacted with panic, sending markets into a steep decline.
Wall Street’s major stock indexes suffered heavy losses after U.S. President Donald Trump imposed new tariffs, sparking fears of a trade war and a potential global economic downturn. The Dow Jones Industrial Average dropped by over 1,100 points, or 2.66%, while the S&P 500 and Nasdaq also saw sharp declines of 3.32% and 4.5%, respectively.
Technology stocks were among the hardest hit, with Apple falling by 8% after China imposed tariffs on U.S. goods, affecting its production. Microsoft and Nvidia also took a hit, losing 3% and 5.6%, respectively. Retailers such as Nike and Ralph Lauren saw double-digit drops after tariffs were imposed on major production hubs in China and Vietnam.
Global markets mirrored the U.S. sell-off, with stocks around the world slumping. Investors turned to safe-haven assets like gold, causing its price to soar. The CBOE Volatility Index (VIX), also known as Wall Street’s "fear gauge," spiked to a three-week high, reflecting mounting concerns among investors.
These tariffs mark a significant shift in U.S. trade policy and have disrupted the business-friendly environment that previously boosted stock prices. As a result, the S&P 500 and Nasdaq are now in correction territory, having fallen 10% from their recent highs.
In response to the growing turmoil, traders now expect the U.S. Federal Reserve to cut interest rates multiple times by the end of the year. The release of payroll data and a speech from Federal Reserve Chair Jerome Powell will likely provide further insights into the economy’s ability to withstand these trade tensions.
Despite market fears, the labor market showed some stability. The number of Americans filing for unemployment benefits fell, suggesting economic fundamentals are holding up, at least for now. However, with tariffs set to disrupt businesses across industries, the broader economic outlook remains uncertain.
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President Donald Trump said he will be involved “indirectly” in nuclear negotiations between the United States and Iran in Geneva, as both sides resume diplomacy against a backdrop of military pressure and deep mistrust.
U.S. President Donald Trump said on Sunday that member states of the newly formed Board of Peace will announce pledges exceeding $5 billion for Gaza’s reconstruction during the first official gathering in Washington this week on Thursday.
Iran is pursuing a nuclear agreement with the U.S. that delivers economic benefits for both sides, an Iranian diplomat was reported as saying on Sunday (15 February), days before a second round of talks between Tehran and Washington.
At least eleven Palestinians were killed in Israeli airstrikes in the northern and southern Gaza Strip on Sunday (15 February), Palestinian civil defence and health officials said, in what Israel's military called a response to Hamas ceasefire violations.
Iran’s Supreme National Security Council Secretary Ali Larijani said the United States could evaluate its own interests separately from those of Israel in ongoing negotiations between Tehran and Washington.
Cuba’s fuel crisis has turned into a waste crisis, with rubbish piling up on most street corners in Havana as many collection trucks lack enough petrol to operate.
Norway is holding a commanding lead in the medal standings with 12 golds and a total of 26, with Italy having an historic performance on home soil on the ninth day of the Milano-Cortina Winter Olympics on Sunday (15 February).
Iran’s Revolutionary Guards navy held military exercises in the Strait of Hormuz on Monday (16 February), state-linked media reported. The drill took place a day before renewed nuclear negotiations between Tehran and Washington in Geneva.
The Somali Army carried out a targeted airstrike in southern Somalia, killing 15 al-Shabaab militants, the country’s Defence Ministry said on Sunday.
Millions of Colombian roses have arrived in the United States just in time for Valentine’s Day, keeping the country on track as the world’s second-largest flower exporter. Between 15 January and 9 February, Colombia shipped roughly 65,000 tons of fresh-cut blooms.
Russia’s car market is continuing to receive tens of thousands of foreign-brand vehicles via China despite sanctions imposed after Moscow’s full-scale invasion of Ukraine in 2022, a journalistic investigation has found.
Türkiye’s national energy company, TPAO, has struck a new cooperation deal with U.S. energy giant Chevron, signing a memorandum of understanding to explore joint oil and gas exploration and production opportunities, the Turkish Energy and Natural Resources Ministry announced on Thursday.
Wall Street ended sharply lower on Tuesday as investors worried about artificial intelligence (AI) creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
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