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U.S. stock markets kicked off the week in the red as renewed trade tensions sparked by former President Donald Trump sent shockwaves through Wall Street. The Dow Jones Industrial Average tumbled over 400 points, while the S&P 500 and Nasdaq Composite dropped 0.8% and 0.9% respectively. The sell-off followed Trump’s announcement of sweeping new tariffs set to take effect on August 1. In a series of public letters posted to social media, Trump warned that countries including Japan, South Korea, South Africa, and Malaysia would face levies ranging from 25% to 40% unless trade agreements are finalized by a self-imposed July 9 deadline. Adding to the market jitters, Trump declared that any nation aligning with the “Anti-American policies of BRICS” would be hit with an additional 10% tariff, escalating tensions with key trading partners like China and India. The tech sector bore the brunt of the downturn, with Tesla shares plunging nearly 7% amid political controversy surrounding CEO Elo...
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Sunak Cancels Meeting with Mitsotakis over Parthenon Marbles Dispute

 

The UK Prime Minister Rishi Sunak has called off a planned meeting with his Greek counterpart Kyriakos Mitsotakis over a disagreement about the ownership of the Parthenon marbles, also known as the Elgin marbles. The ancient sculptures, which were removed from the Parthenon temple in Athens by Lord Elgin in the early 19th century, are currently displayed in the British Museum in London. Greece has long demanded their return, claiming they are part of its cultural heritage and national identity.

The meeting, which was scheduled for Tuesday, was canceled after Mitsotakis made a remark in a BBC interview on Sunday, comparing the situation to cutting the Mona Lisa in half and displaying it in two different museums. Sunak was reportedly annoyed by the comment, which he saw as disrespectful and provocative. A senior Conservative Party source said that the meeting became impossible due to the commentary regarding the historical antiquities.

Mitsotakis expressed his disappointment in a statement on Monday night, saying that he was hoping to discuss the issue with Sunak, as well as other global challenges such as Gaza, Ukraine, climate crisis, and migration. He added that those who believe in the accuracy of their positions should not be afraid of hearing opposing points of view. He also reiterated that the matter does not concern the British government, but the British Museum.

The Parthenon marbles dispute has been a source of tension between the two countries for decades, and has recently gained more attention due to the opening of a new museum in Athens, the Acropolis Museum, which has a dedicated space for the missing sculptures. The British Museum has maintained that the marbles were legally acquired by Lord Elgin and that they are better preserved and more accessible in London. However, Greece argues that the marbles were taken without proper consent and that they belong to the Parthenon, which is a UNESCO World Heritage Site.

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