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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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Patience in Diplomacy: Kremlin Responds to Trump's Ukraine Push

 

The Kremlin has emphasized the need for patience in diplomatic efforts following U.S. President Donald Trump's recent call for progress in resolving the ongoing conflict in Ukraine. Kremlin spokesperson Dmitry Peskov stated that while discussions between Moscow and Washington are progressing well, it is unrealistic to expect immediate results due to the strained relations inherited from the previous administration.

Trump, who has expressed a desire to be remembered as a peacemaker, has been vocal about ending the "bloodbath" in Ukraine. His special envoy, Steve Witkoff, recently held extensive talks with Russian President Vladimir Putin in St. Petersburg. Despite these efforts, Peskov highlighted the complexity of restoring bilateral relations and achieving a peace deal, describing the process as requiring "serious and painstaking work."

The conflict in Ukraine, which began with Russia's 2022 invasion, remains a significant point of contention between Moscow and the West. While European leaders have called for Russia's defeat on the battlefield, Putin frames the war as a broader struggle against Western encroachment on Russia's sphere of influence.

Diplomatic efforts continue, but both sides acknowledge that rebuilding trust and finding a resolution will take time and perseverance.

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