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Europe Scorched by Record Heatwave: France and Italy Take Emergency Measures

As a blistering heatwave tightens its grip on Europe, countries are scrambling to protect citizens from soaring temperatures and mounting health risks. France has shuttered over 1,350 schools  and closed the top floor of the Eiffel Tower as temperatures surged past 40°C (104°F)  in several regions. Sixteen French departments are now under the highest heat alert, with authorities urging people to stay hydrated and indoors during peak hours. Meanwhile, Italy has imposed restrictions on outdoor work , particularly in agriculture and construction, during the hottest parts of the day. Cities like Rome, Milan, and Venice are under red alerts, with hospitals reporting a spike in heat-related illnesses. The Mediterranean Sea has also hit record highs, with waters in Spain’s Balearic Sea reaching 30°C , up to 6 degrees above average. Scientists warn that Europe—already warming at twice the global average —is facing increasingly frequent and intense heatwaves due to climate change. New ...
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Market Turmoil: US-China Chip Feud Sends Stocks Tumbling

 

The stock market took a hit on Wednesday as tensions between the US and China over semiconductor trade reignited concerns among investors. Futures for the Dow Jones Industrial Average fell 0.7%, while the S&P 500 and Nasdaq 100 each dropped 0.4%. 

The latest dispute stems from US restrictions on AI chip exports to China, which Beijing has criticized as a threat to recent trade negotiations. Nvidia CEO Jensen Huang called the curbs a "failure," arguing they have only strengthened Chinese alternatives while costing American firms billions in lost revenue. 

Adding to market jitters, Target (TGT) reported disappointing quarterly earnings, missing Wall Street expectations and cutting its full-year outlook. The retailer declined to confirm whether it would follow Walmart in passing tariff-related costs onto consumers. 

Meanwhile, concerns over the US deficit and debt levels have pushed Treasury yields higher, with the 30-year yield climbing above 5% and the 10-year yield surpassing 4.5%. The dollar also weakened, hitting a two-week low as traders eyed potential policy shifts at the ongoing G-7 meeting. 

With geopolitical tensions, economic uncertainty, and corporate earnings all weighing on sentiment, investors are bracing for further volatility in the days ahead.

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