Stocks fall as Trump warns of US economy trade war 'transition'
A sell-off in the US stock market gathered steam on Monday, fuelled by rising concern about the cost of the trade war to the world's largest economy.
The S&P 500, which tracks the biggest American companies, fell about 2% in early trade, while the Dow Jones dropped 0.9% and the Nasdaq sank more than 3.5%.
The falls came after President Donald Trump ducked questions about whether the US economy was facing a recession or price rises as a result of tariff moves, while warning instead of a "period of transition".
Commerce Secretary Howard Lutnick, however, insisted there would be no contraction in the US, although he acknowledged that the price of some goods may rise.
Investors fear that tariffs - which are taxes on goods applied as they enter the country - will lead to higher prices and ultimately dent growth in the world's largest economy.
"The level of tariffs that Trump is imposing, I think no doubt, will have to cause inflation somewhere down the line," Rachel Winter, investment manager at Killik & Co, told the Today programme.
Economist Mohamed El-Erian said investors had been optimistic about Trump's plans for de-regulation and lower taxes, while under-estimating the likelihood of a trade war.
He said the recent falls in the stock market, which started last week, reflect the adjustment of those bets.
"It's a complete change in what the market expected," he added, noting that investors are also responding to signs that businesses and households are starting to hold off on spending amid the uncertainty, which could hurt economic growth.
European stocks closed lower on Monday, with France's CAC and the London FTSE indices both closing around 0.9% lower. Germany's DAX closed 1.75% lower.
Susannah Streeter, head of money and markets at the stockbrokers Hargreaves Lansdown, said it was because of "unease around the impact of Trump tariffs". She added that concerns over the US economy entering a recession is worrying investors.
Tesla shares fell about 8% on Monday, while tech stocks Nvidia and Meta were both down more than 4%.
Speaking to Fox News in an interview broadcast on Sunday but recorded on Thursday, Trump appeared to acknowledge the concerns, responding to a question about whether the US was facing recession: "I hate to predict things like that. There is a period of transition because what we're doing is very big. We're bringing wealth back to America. That's a big thing."
"It takes a little time, but I think it should be great for us," he added.
#BBC #News #Trump #USA
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China strikes back at Trump tariffs with 15% levies targeting US farmers
WASHINGTON (AP) — China retaliated against President Donald Trump’s tariffs with an additional 15% tax on key American farm products, including chicken, pork, soybeans and beef.
The escalating trade tensions punished U.S. markets Monday as investors fearful of the damage from from Trump’s trade wars put their money elsewhere.
The Chinese tariffs, announced last week, were a response to Trump’s decision to double the levy on Chinese imports to 20% on March 4. China’s Commerce Ministry had earlier said that goods already in transit would be exempt from the retaliatory tariffs until April 12.
Imposing tariffs on imports is a key part of Trump’s agenda. He believes the import taxes can raise money for the Treasury, protect American industries and pressure foreign countries to do what he wants in a range of issues, including immigration and drug trafficking.
#China #USA #AP #News
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Europeans looking at US tech right now
Not only Europe, but I believe much of the civilized world... Read More...
U.S. Army soldiers accused of selling military secrets, including to China
Active-duty soldier Li Tian and former soldier Ruoyu Duan were charged in Oregon with conspiring to commit bribery and the theft of government property. Active-duty soldier Jian Zhao was charged in Washington state for conspiring to obtain and transmit national defense information to an individual not authorized to receive it, and for bribery and theft of government property.
#News #US #Army #CBSNews
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Which state(s) could Kamala and Walz *realistically* try to win that she and Biden did not win in 2020 (flip from red to blue)?
#USElections
I was looking at the 2020 presidential election results the other day on Wikipedia, and based on the states that were won by a narrow margin by either candidate, most were won by Biden.
However, Trump won North Carolina by 1.35% (74,483 votes), which seems to be the most likely state Kamala and Walz could flip.
Although Florida was won by Trump by 3.36% (371,686 votes), it’s likely to remain red especially based on the 2022 governor election results.
I’m not sure how much effort the Harris campaign would/will put into Maine’s 2nd congressional district 7.44%, 27,996 votes).
By this point things are looking like more of a longshot. Trump won Ohio by 8.03% (475,669 votes).
Trump won Iowa by 8.20% (138,611 votes).
Based on this alone, it seems like only North Carolina could be where the Harris campaign could expand from 2020, but of course that would be in addition to holding the close states they won that election (Arizona, Georgia…).
Any thoughts on how the Harris campaign will proceed? Would the Harris campaign be better off with focusing all their efforts on maintaining what she and Biden won in 2020? Or would it depend how polls are trending in the next few/several weeks?
Edited to add: I completely missed mentioning Texas, my mistake. Trump had won by 5.58% (631,221 votes). Maybe if there’s a strong enough push this could be flipped?
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Iraq postpones plans for US troop withdrawal amid regional tensions
Iraq has postponed announcing an end-date for the US-led military coalition’s presence in the country due to “recent developments,” raising questions about the future of US military presence in the Gulf state amid heightened tension in the region.
Iraq’s Higher Military Commission had aimed to propose an end date for Operation Inherent Resolve, the US military operation combatting terror group ISIS.
“We were very close to announcing this agreement, but due to recent developments, the announcement of the end of the international coalition’s military mission in Iraq was postponed,” a statement by Iraq’s foreign ministry said Thursday, without giving further details on what the “recent developments.”
Tensions are mounting in the region as Israel and the United States brace for a potential Iranian attack on Israel to avenge the killing of Hamas’ political leader Ismail Haniyeh in Tehran last month. Iran blames the assassination on Israel, which has not confirmed or denied responsibility.
Iran-backed militias in Iraq are pressuring the Shia-led government to end the US troop’s presence in Iraq.
Several powerful militias in Iraq have stepped up attacks on US sites in the country since October 7, saying in support of people in the Gaza Strip, where they view the US administration as one of Israel’s main allies. In response, the US has launched retaliatory airstrikes inside Iraq targeting the groups.
The US has roughly 2,500 troops currently in Iraq who have been operating there in an “advise and assist” capacity since December 2021, when the US military announced the end of its combat role in the country.
#news #worldnews #cnn
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Dancing cactus baby reaction 👶🌵❤️
Dancing cactus baby reaction #cutebaby #funnybaby #babyvideos
👶🌵❤️
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What we saw in the news is just tip of an iceberg operations.
#NEWS
MOSSAD DRONE BASE – DEEP INSIDE IRAN
EXPOSED: Deep Inside Iran — The Mossad Struck First. And Struck Hard.
For months — maybe years — the groundwork was quietly laid.
Surgical planning. Precision infiltration. Unseen firepower.
Then, in one synchronized moment, the Israeli strike lit up the Iranian night.
In central Iran, Mossad commando teams had pre-positioned deadly accurate missile systems in open fields near surface-to-air missile (SAM) batteries. As the Israeli Air Force launched a nationwide airstrike, these hidden weapons came alive — firing in unison, shattering Iran’s air defenses with chilling precision.
Elsewhere across Iran, seemingly ordinary civilian vehicles were in fact mobile platforms of destruction. Secretly modified by Mossad operatives, they carried advanced strike technology — and when the operation began, they unleashed a storm of devastation on Iranian radar sites, blinding the skies for Israeli jets.
But the most daring revelation?
The Mossad had built a kamikaze drone base — inside Iran.
Deep beneath Tehran’s shadow, hidden within Iranian soil, agents had quietly prepared the site months ago.
When the moment came, the drones soared — targeting ballistic missile launchers at Esfajabad, one of Iran’s top threats against Israeli cities.
This wasn’t just a strike. It was a masterclass in modern warfare.
The world’s first true surprise. Unparalleled coordination between the Mossad, the IDF, and Israel’s defense industries.
Israel didn’t just respond. Israel rewrote the rules.
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