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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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Aga Khan IV, Spiritual Leader of Ismaili Muslims, Passes Away at 88

The world mourns the loss of His Highness Prince Karim Al-Hussaini, Aga Khan IV, the spiritual leader of Ismaili Muslims, who passed away peacefully in Lisbon at the age of 88. 

Prince Karim Al-Hussaini, the 49th hereditary Imam of the Shia Ismaili Muslims, was a direct descendant of the Prophet Muhammad. He inherited his title at the young age of 20 in 1957 and led a community of approximately 12 million people worldwide. 

Throughout his life, the Aga Khan was known for his dedication to improving the quality of life for individuals and communities across the globe through the Aga Khan Development Network (AKDN), which he founded. His efforts in education, healthcare, and cultural preservation have left an indelible mark on many lives.

The Aga Khan was also a passionate advocate for peace and pluralism, promoting understanding and cooperation among different cultures and religions. His contributions to the world of horseracing and his close friendship with the late Queen Elizabeth II were well-known.

He is survived by his children, Princess Zahra, Prince Rahim, Prince Hussain, and Prince Aly Muhammad, and four grandchildren. The announcement of his successor is expected to follow soon.

The Ismaili community and the AKDN offer their condolences to the family and express gratitude for the Aga Khan's lifelong service and leadership.



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