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Wall Street Stumbles as Trump’s Tariff Threats Rattle Global Markets

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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Trump Family's Cryptocurrency Ventures Raise Ethical Concerns Ahead of Inauguration

 

In a surprising move, both Donald Trump and Melania Trump have launched their own cryptocurrencies just days before the presidential inauguration. Donald Trump's cryptocurrency, $TRUMP, and Melania Trump's $MELANIA, have quickly gained significant market value, raising ethical concerns among industry observers and analysts.

The $TRUMP coin, branded with imagery of Trump's attempted assassination, soared to nearly $11 billion in market value, while $MELANIA reached $1.7 billion. Critics argue that the Trumps are capitalizing on the presidency to launch lucrative business products, potentially inflating their net worth by billions.

Ethics experts and industry insiders have voiced concerns about the potential conflict of interest, given Trump's administration's role in regulating the cryptocurrency industry. The launch of these coins has opened up a Pandora's box of ethical and regulatory questions, with some suggesting that public figures with political clout should not wield such influence in speculative markets.

The cryptocurrency industry, known for its volatility and lack of transparency, has seen a surge in interest following Trump's election victory. As Trump prepares to take office, the ethical implications of his and his family's involvement in the cryptocurrency market remain a topic of heated debate.

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