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Greece’s Asylum Freeze Sparks Global Outcry Amid Crete Migrant Surge

In a move that has ignited fierce backlash from human rights organizations and the United Nations, Greece has passed legislation temporarily halting asylum applications from migrants arriving by sea from North Africa. The three-month suspension, approved by parliament with 177 votes in favor and 74 against, allows for expedited repatriation without prior identification. Prime Minister Kyriakos Mitsotakis defended the measure as a “difficult but necessary decision” in response to a sharp rise in irregular arrivals, particularly from Libya to the island of Crete. Over 7,000 migrants have reached Crete and nearby Gavdos this year, straining local resources and prompting concerns from the tourism industry. Rights groups, including the International Rescue Committee, have condemned the ban as illegal and inhumane, warning it violates international and European law. The UNHCR echoed these concerns, emphasizing that the right to seek asylum is a fundamental human right regardless of how or wh...
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Wall Street Holds Its Breath as Indexes Hover Near Record Highs

U.S. stock futures remained largely unchanged on Wednesday, with investors cautiously optimistic as the S&P 500 edged closer to its all-time high. Futures tied to the Dow Jones Industrial Average dipped slightly by 0.1%, while the Nasdaq 100 futures inched up 0.2%, buoyed by recent tech sector gains.

Market sentiment was lifted by Federal Reserve Chair Jerome Powell’s remarks to Congress, suggesting that interest rate cuts could come “sooner rather than later.” His testimony set the stage for Friday’s release of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) report, which could further influence monetary policy expectations.

Geopolitical developments also played a role in calming markets. A U.S.-brokered ceasefire between Iran and Israel appeared to be holding, reducing immediate concerns over Middle East tensions.

With the S&P 500 now within a whisper of its record high, investors are watching closely for any signals that could push the market into uncharted territory—or send it retreating.

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