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Wall Street Stays Resilient as Nasdaq Hits Record Amid Tariff Turbulence

  Markets defy trade jitters with mixed performance Wall Street wrapped up the week with a show of resilience, as the Nasdaq Composite edged to a fresh record close , buoyed by strong tech earnings and steady economic data. The S&P 500 posted a modest weekly gain , while the Dow Jones Industrial Average slipped 0.3% , reflecting investor caution amid escalating tariff tensions. Despite President Trump’s push for 15% to 20% blanket tariffs on European Union imports , markets largely shrugged off the geopolitical noise. Economic indicators, including a sharp drop in inflation expectations from the University of Michigan’s consumer sentiment survey, helped soothe investor nerves. Netflix’s earnings beat failed to impress, dragging its stock lower, while American Express posted strong results , signaling continued spending strength among affluent consumers. Meanwhile, CRISPR Therapeutics surged 17% after a major insider stock purchase, and Bitcoin briefly topped $118,000 befor...
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Trump Halts U.S.-Canada Trade Talks Over Digital Services Tax Dispute

In a dramatic escalation of trade tensions, U.S. President Donald Trump announced Friday that his administration is terminating all trade negotiations with Canada, citing Ottawa’s new digital services tax as the catalyst for the decision.

The tax, which imposes a 3% levy on revenues earned from digital services such as online advertising, social media platforms, and the sale of user data, is set to take effect on June 30. It targets large tech firms with significant Canadian user bases—many of which are American giants like Google, Meta, and Amazon.

Calling the tax “a direct and blatant attack on our country,” Trump posted on Truth Social that Canada is “a very difficult country to trade with” and accused it of mimicking the European Union’s approach to taxing digital services.

The move threatens to disrupt a trade relationship valued at over $760 billion annually. Trump also warned that new tariffs on Canadian exports would be announced within a week, further straining economic ties between the two nations.

Canadian Prime Minister Mark Carney has yet to issue a formal response, but the decision is expected to have ripple effects across industries, particularly in technology, automotive, and energy sectors.

This latest development marks a sharp turn in U.S.-Canada relations, reigniting trade friction that had cooled in recent years.

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