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Wall Street Stumbles as Trump’s Tariff Threats Rattle Global Markets

U.S. stock markets kicked off the week in the red as renewed trade tensions sparked by former President Donald Trump sent shockwaves through Wall Street. The Dow Jones Industrial Average tumbled over 400 points, while the S&P 500 and Nasdaq Composite dropped 0.8% and 0.9% respectively. The sell-off followed Trump’s announcement of sweeping new tariffs set to take effect on August 1. In a series of public letters posted to social media, Trump warned that countries including Japan, South Korea, South Africa, and Malaysia would face levies ranging from 25% to 40% unless trade agreements are finalized by a self-imposed July 9 deadline. Adding to the market jitters, Trump declared that any nation aligning with the “Anti-American policies of BRICS” would be hit with an additional 10% tariff, escalating tensions with key trading partners like China and India. The tech sector bore the brunt of the downturn, with Tesla shares plunging nearly 7% amid political controversy surrounding CEO Elo...
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Turbulent Times: The Middle East After Raisi’s Tragic Demise

 


The recent death of Iran’s president, Ebrahim Raisi, in a helicopter crash on a remote mountainside adds to the already fraught situation in the Middle East. Here are some key points to consider:

  1. Israel-Hamas Conflict: Israel’s war against Hamas has escalated tensions across the region. The humanitarian catastrophe in Gaza over the last seven months has drawn global attention and condemnation. This conflict has also brought the longstanding shadow war between Iran and Israel into the open.

  2. Proxy War: While direct strikes between Iran and Israel have temporarily ceased, the proxy war continues. Iran-backed militias like Hamas and Hezbollah continue to engage in hostilities with Israel’s forces.

  3. Domestic Unrest in Iran: Iran’s hardline leadership faces challenges at home. Recent popular dissent, triggered by years of US-led sanctions and worsened economic conditions, has led to demonstrations against clerical rule. Human rights violations have been reported, and opposition to religious leadership remains entrenched among many Iranians, especially the youth.

  4. Raisi’s Presidency: Ebrahim Raisi, a former hardline judiciary chief, was elected president in 2021. His victory signaled a shift toward a harder-line era in Iran. However, voter turnout was low, reflecting discontent with the political elite’s engineered election process.

  5. War Crimes Warrants: The International Criminal Court (ICC) is seeking war crimes warrants for Hamas leader Yahya Sinwar and Israeli Prime Minister Benjamin Netanyahu. These warrants relate to attacks on Israel and subsequent events.

In summary, the Middle East faces complex challenges, including ongoing conflicts, domestic unrest, and international legal scrutiny. The death of Iran’s president adds another layer of uncertainty to an 

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