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Trump Files $10 Billion Lawsuit Over IRS Tax Leak

US President Donald Trump and his sons Eric Trump, left, and Donald Trump Jr, right, have sued the US federal government over tax leaks.  A new legal battle has erupted as President Donald Trump launches a sweeping $10 billion lawsuit against the U.S. government, accusing federal agencies of failing to protect his confidential tax information. The suit targets both the IRS and the Treasury Department, alleging that years of his private financial records were improperly accessed and leaked to media outlets he describes as politically hostile. The complaint argues that the unauthorized disclosure caused significant damage to Trump’s reputation, business interests, and public standing. It also claims that the leak stemmed from a politically motivated insider who exploited access to sensitive IRS systems. That individual has since been convicted, but Trump maintains that the government bears responsibility for allowing the breach to occur in the first place. The lawsuit, filed in fe...
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Stock Market Rebounds After 3-Day Slump: Nasdaq and S&P 500 Rally

 


In a dramatic turnaround, US stocks surged today, recovering from a three-day market rout that had wiped out substantial gains for 2024. Here are the key highlights:

  1. Nasdaq Leads the Charge: The tech-heavy Nasdaq Composite (^) soared by 2.2%, marking an impressive rebound. This surge was a welcome relief after the recent sell-off.

  2. S&P 500 Bounces Back: The benchmark S&P 500 (^) followed suit, gaining around 2%. This rally helped mitigate the losses from the past three sessions and pushed year-to-date gains to approximately 11%.

  3. Dow Jones Industrial Average Jumps: The Dow Jones Industrial Average (^) also participated in the recovery, rising by 1.4% (approximately 600 points).

  4. Market Concerns and the Fed: The recent volatility was triggered by fresh worries about the US economy and its labor market. Investors are closely watching the Federal Reserve, with expectations of a rate cut at the next meeting.

  5. Individual Stocks Rebound: Notable companies like Nvidia, Tesla, Microsoft, and Meta (formerly Facebook) saw gains today, contributing to the overall market recovery (^).

  6. Cryptocurrencies Rise: Despite the recent crypto sell-off, Bitcoin (BTC-USD) climbed back above $55,000, up 7% (^).

  7. Global Markets Stabilize: Japan’s Nikkei index also closed up over 10%, signaling a steadying of global markets (^).

As investors keep a close eye on the Fed’s actions, the coming days will provide crucial signals for the market’s next moves.

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