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Larry Summers Retreats from Public Life Amid Epstein Email Fallout

    Larry Summers, professor at Harvard University, during an interview in New York, on Sept. 17, 2025. Larry Summers, former U.S. Treasury Secretary and ex-president of Harvard University, announced he will step back from public engagements following the release of thousands of emails linking him to convicted sex offender Jeffrey Epstein. Summers described himself as “deeply ashamed” of his actions, acknowledging the pain caused by his continued communication with Epstein long after the financier’s 2008 conviction. The House Oversight Committee recently published more than 20,000 documents from Epstein’s estate, including extensive correspondence between Summers and Epstein. The emails revealed that their relationship persisted until at least 2019, just before Epstein’s arrest on sex trafficking charges. In some exchanges, Epstein attempted to connect Summers with influential global figures, while Summers sought advice on personal matters. Summers issued a statement ...
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Markets, Tech Leaders Start Friday in the Red

 


Wall Street began the day with a cautious tone as markets dipped into the red. The S&P 500 and the Dow Jones Industrial Average both edged down by less than 0.2% during early trading. This week has been a seesaw of small gains and losses, largely influenced by a mix of economic data.

One notable report revealed that inflation at the wholesale level last month was hotter than economists had anticipated. This trend of consistently worse-than-expected inflation data has dashed earlier hopes of the Federal Reserve cutting interest rates at its upcoming meeting. However, there’s a glimmer of optimism: other reports released on Thursday hinted at some softening in the economy, suggesting that the long-term inflation trend might still be downward. Investors are speculating that the Fed may initiate three rate cuts this year, starting in June.

In pre-market trading, Adobe, the software maker, stumbled by 11.2% after providing tepid guidance, despite surpassing Wall Street’s sales and profit targets. Similarly, Ulta Beauty, the cosmetics retailer, outperformed analysts’ expectations but issued guidance that left investors wanting. Its shares slid 7.2% before the opening bell today.

Global Market Snapshot

  • In Europe, the DAX in Germany rose 0.4%, the FTSE 100 in London saw a modest uptick of less than 0.1%, and the CAC 40 in Paris jumped 0.6%.
  • In Asian trading, Tokyo’s Nikkei 225 declined 0.3% to 38,707.64. Automakers Honda and Nissan gained ground ahead of their collaboration announcement in electric vehicles and auto intelligence technology. Honda Motor Co. rose 1.7%, while Nissan Motor Co. climbed 3.2%.
  • In South Korea, the Kospi dropped 1.9% to 2,666.84. Hong Kong’s Hang Seng slipped 1.4% to 16,720.89 due to ongoing housing price declines since February. Meanwhile, the Shanghai Composite index in China edged up 0.3% to 3,054.64. China’s market watchdog emphasized the need for high-quality economic and social development by announcing tighter standards for listing companies.

In the bond market, Treasurys stabilized somewhat after Thursday’s rise, with the 2-year yield holding at 4.69% and the 10-year yield easing back to 4.27% from 4.29%.

As the dynamic market environment continues to keep investors on their toes, we’ll closely monitor economic data, corporate earnings, and global developments. Stay tuned for further updates throughout the week.

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