Israel and Syria agree to ceasefire, says U.S. ambassador to Türkiye
The U.S. ambassador to Türkiye says Israel and Syria have reached a ceasefire deal supported by Türkiye, Jordan, and regional actors after cross-bor...
Markets fled to safety Thursday as Trump escalated tariffs on China to 125%, triggering a surge in gold, yen, and bonds. Despite a brief equity rally, investor confidence in U.S. trade policy and the dollar continues to erode.
Financial markets witnessed a swift flight to safety on Thursday after U.S. President Donald Trump intensified his trade war with China, sharply raising tariffs while simultaneously suspending levies on other nations for 90 days. Investors flocked to safe-haven assets such as the Japanese yen, Swiss franc, and gold, while U.S. Treasury bonds rallied, putting the dollar under broad pressure.
Despite Asian equities surging on hopes of eased trade tensions, Trump’s move to single out China with a staggering 125% tariff rate—up from 10%—sparked fresh market anxiety. The Chinese yuan briefly fell to its lowest level since 2007 before slightly recovering. Meanwhile, the Aussie and Kiwi dollars, initially hit due to close trade ties with China, regained momentum as the risk rally spread to Europe.
Analysts noted a growing crisis of confidence in U.S. trade leadership, citing the administration’s erratic policy shifts. ANZ analysts highlighted concerns over the long-term credibility of the U.S. dollar, while others warned of lasting economic damage.
With markets on edge, investors remain cautious, questioning whether temporary policy reversals can offset the uncertainty wrought by Trump’s aggressive trade manoeuvres.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
Israeli researchers have unveiled an artificial intelligence tool that can determine a person’s true biological age from tiny DNA samples with remarkable precision.
Two Harry Potter actresses, Emma Watson and Zoe Wanamaker, have each received a six-month driving ban after separate speeding offences, both sentenced on the same day at a Buckinghamshire court.
North Korea has stopped foreign tourists from visiting its new Wonsan-Kalma resort just weeks after it welcomed the first Russian visitors.
U.S. President Donald Trump says Coca-Cola has agreed to use real cane sugar in the U.S., though the company has not confirmed the claim.
The U.S. ambassador to Türkiye says Israel and Syria have reached a ceasefire deal supported by Türkiye, Jordan, and regional actors after cross-border strikes this week heightened tensions.
The Trump administration has completed a controversial prisoner swap with Venezuela, returning around 250 deported Venezuelans in exchange for 10 American detainees.
Congo and the M23 rebel group have agreed on a declaration of principles after months of Qatar-mediated talks, aiming to end fighting in the country’s east.
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