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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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Trump Administration Severs Ties with Harvard, Ending Federal Contracts

The Trump administration has directed federal agencies to cancel all remaining contracts with Harvard University, marking a significant escalation in its ongoing dispute with the Ivy League institution. The move follows previous cuts of over $2.6 billion in federal research grants and is expected to strip Harvard of an additional $100 million in funding.

A letter from the General Services Administration instructs agencies to review their contracts with Harvard and seek alternative vendors. The administration has cited concerns over Harvard’s policies, including issues related to race discrimination in admissions and campus governance. 

Harvard has pushed back against the administration’s demands, arguing that the cuts threaten academic freedom and the university’s ability to support international students and research initiatives. The university has also filed legal challenges against previous funding freezes, claiming they are politically motivated.

This latest action underscores the deepening rift between the Trump administration and Harvard, as the government continues to scrutinize higher education institutions over ideological and policy disagreements. The impact of these cuts on Harvard’s operations remains to be seen, but the financial blow is expected to be substantial.

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