Skip to main content

Featured

Mojtaba Khamenei: The Rise of Iran’s New Supreme Leader

                      A picture of Iran's new supreme leader, Mojtaba Khamenei, is displayed on a screen in Tehran Mojtaba Khamenei, 56, has emerged as Iran’s new supreme leader following the assassination of his father, Ayatollah Ali Khamenei, in joint U.S.–Israeli strikes. His appointment by the Assembly of Experts comes at a moment of profound crisis for Iran, as the country faces regional war, internal instability, and intense international scrutiny.  A Secretive Heir With Deep Establishment Ties Mojtaba, long considered influential behind the scenes, is a mid-ranking cleric with strong connections to the Islamic Revolutionary Guard Corps (IRGC). His political rise signals continuity of Iran’s hardline establishment, despite the country’s ideological discomfort with hereditary succession.  A Leader Shaped by Conflict and Loss His ascension comes amid the “Ramadan War,” during which he was reportedly wound...
Post a Comment
Read more

article

Labels

Market Turmoil: U.S. Stocks Plunge Amid Trump Tariff Fears

 

U.S. stocks experienced a significant decline on Friday as concerns over President Donald Trump's tariff policies spread among businesses and consumers. The S&P 500 fell by 1.7%, marking its worst day in two months, while the Dow Jones Industrial Average dropped 748 points, or 1.7%, and the Nasdaq composite tumbled 2.2%.

The losses accelerated throughout the day following several weaker-than-expected economic reports. One report suggested that U.S. business activity is close to stalling, with growth slowing to a 17-month low. The preliminary report from S&P Global indicated that activity unexpectedly shrank for U.S. services businesses, with many in the survey reporting slumping optimism due to concerns about Washington.

Additionally, a separate report revealed that U.S. consumers are preparing for higher inflation, partly due to potential tariffs that could raise prices for various imports. The University of Michigan's survey showed that consumers broadly expect prices to be 4.3% higher 12 months from now, a significant jump from their forecast of 3.3% inflation last month.

The stock market's decline was widespread, with stocks of the smallest companies, whose profits are more closely tied to the strength of the U.S. economy, falling more than the rest of the market. The Russell 2000 index of small stocks dropped by 2.9%. Within the S&P 500 index, three out of every four stocks fell, including Big Tech stocks, airlines, and metals companies.

Despite the recent downturn, the U.S. stock market remains up for the year so far and is not far from its all-time high set earlier this week. However, Friday's reports have raised concerns about the resilience of the economy, and the losses on Wall Street were widespread.


Labels:

Comments

Post a Comment