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Market Turmoil: S&P 500 Enters Correction Amid Escalating Trade War

                                                                 The stock market faced a sharp downturn on Thursday, with the S&P 500 officially entering correction territory. The index fell 1.4%, marking a 10% decline from its recent high. The Dow Jones Industrial Average dropped 1.3%, while the tech-heavy Nasdaq plummeted nearly 2%. This market turbulence comes as trade tensions escalate. The European Union's retaliatory tariffs on U.S. goods, including a 50% tax on American whiskey, prompted the U.S. administration to threaten a 200% tariff on European wines and spirits. These developments have left investors on edge, fearing the economic repercussions of a prolonged trade war. Adding to the uncertainty, debates over a stop-gap spending bill to prevent a government shutdown have further ...
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China's Lunar New Year Travel Rush: A Record-Breaking 9 Billion Trips Expected

 

As the Lunar New Year approaches, China's annual travel rush, known as Chunyun, has kicked into high gear. This 40-day period, which began on January 14, 2025, is expected to see a record-breaking   9 billion trips. This massive movement of people is the world's largest annual migration, with most journeys made by car.

The Lunar New Year, marking the start of the Year of the Snake, falls on Wednesday, with New Year's Eve on Tuesday reserved for family gatherings and traditional fireworks displays. The travel rush will peak over the weekend, with 510 million trips by train and 90 million by air.

While the festival has traditionally been a time for families to reunite, rising prosperity has led many to travel overseas, with cross-border trips expected to rise by nearly 10%. Despite the economic challenges, the festive spirit remains strong, with temple markets and other traditional events drawing millions of visitors.

This year's extended public holiday, from January 28 to February 4, aims to boost consumer spending and support the economy. As travelers rush to their hometowns, the excitement and anticipation for the Year of the Snake celebrations are palpable.






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