Global markets declined after China imposed a 34% tariff on American goods in retaliation to tariffs imposed by President Trump, leading to a 5% drop in the S&P 500 and Nasdaq Composite. The move raised concerns of a prolonged trade war that could impact supply chains and push the U.S. economy towards a recession, prompting billionaire investor Bill Ackman to urge world leaders to negotiate with Trump. Trump’s talks with Vietnam about reducing tariffs to zero led to a 4% rally in Nike stock, a major holding in Ackman’s portfolio. Ackman also advised on negotiation strategies in dealing with tariffs.
Full Article
Trump speculates about Iran regime change after US strikes
US President Donald Trump suggested the possibility of regime change in Iran following US and Israeli strikes on Iranian nuclear facilities, despite top officials clarifying that regime change was not the goal. The military action, aimed at curtailing Iran's nuclear ambitions, has heightened tensions, with Iran vowing retaliation and military readiness increasing in the region. Need More Context? 🔎
Read more