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Market Volatility: Stocks Flatten as Powell's Remarks Weigh on Gains

The stock market experienced a turbulent session on Wednesday, ultimately closing near flat after Federal Reserve Chair Jerome Powell's comments on monetary policy and inflation concerns. The S&P 500 ended nearly unchanged , giving back earlier gains as investors digested Powell’s remarks on the Fed’s stance regarding interest rates and economic restraint. Powell reiterated that the central bank remains cautious about inflation, particularly in light of tariff-driven price increases expected over the summer. While the Fed signaled that borrowing costs are likely to decline this year, the pace of future rate cuts appears to be slowing.  Following Powell’s speech, U.S. Treasury yields reversed their earlier declines , influencing market sentiment. The Dow Jones Industrial Average fell 43.83 points (0.10%) , while the Nasdaq Composite managed a slight gain of 23.66 points (0.12%).  Investors also kept a close eye on geopolitical developments, particularly tensions in the Midd...
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Inferno in the North: Manitoba Declares State of Emergency Amid Raging Wildfires

Manitoba has declared a provincewide state of emergency as wildfires continue to spread, forcing thousands to evacuate. Premier Wab Kinew announced the measure, calling it the largest evacuation in living memory for the province.  

The fires have already displaced 17,000 people, with communities such as Flin Flon, Pimicikamak Cree Nation, and Mathias Colomb First Nation issuing mandatory evacuation orders. The Canadian Armed Forces have been deployed to assist in transporting evacuees to safety.  

The wildfire threatening Flin Flon originated in Creighton, Saskatchewan, before crossing into Manitoba. Officials say water bombers were grounded due to a drone flying nearby, hampering firefighting efforts.  

With extreme fire conditions persisting, authorities are urging residents to follow evacuation orders and seek shelter in designated facilities. The state of emergency will remain in effect for 30 days, with the possibility of extension if necessary.  


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