Fearing chaos, Macron opposed to using military force against Iran for regime change
French President Emmanuel Macron speaks during a joint press conference with Danish Prime Minister Mette Frederiksen and Greenland's Prime Minister Jens-Frederik Nielsen (both not pictured), in Nuuk, Greenland, June 15, 2025. Ritzau Scanpix/Mads Claus Rasmussen via REUTERS/File Photo
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The Star
38 minutes ago
- The Star
U.S. stocks tumble as geopolitical conflicts, weak data dent sentiment
NEW YORK, June 17 (Xinhua) -- U.S. stocks ended lower on Tuesday, as escalating geopolitical tensions and disappointing retail sales data weighed on investor sentiment. The Dow Jones Industrial Average fell by 299.29 points, or 0.70 percent, to 42,215.8. The S&P 500 sank 50.39 points, or 0.84 percent, to 5,982.72. The Nasdaq Composite Index shed 180.12 points, or 0.91 percent, to 19,521.09. Ten of the 11 primary S&P 500 sectors ended in red, with health and consumer discretionary leading the laggards by losing 1.64 percent and 1.55 percent, respectively. Meanwhile, energy bucked the trend by adding 1.03 percent. All major indexes extended losses and closed lower after U.S. President Donald Trump was demanding Iran's "unconditional surrender" on his social media account, and claiming the United States knows the location of the country's leader. French President Emmanuel Macron said Monday that Trump offered a ceasefire between Iran and Israel. However, Trump said his departure from the G7 had "nothing to do with a Cease Fire. Much bigger than that." Markets had staged a cautious rebound on Monday amid reports Iran was open to ceasefire negotiations and restarting talks over its nuclear program. But on Tuesday, fresh headlines indicated the United States is contemplating military strikes, increasing the threat of prolonged instability in the Middle East. Alongside geopolitical anxiety, investors are also contending with renewed uncertainty around trade policy. As the deadline nears for lifting the pause on Trump-era tariffs, U.S. officials are scrambling to cement new trade agreements during the G7 summit. A trade deal was finalized Monday between Trump and British Prime Minister Keir Starmer, but progress with other partners remains elusive. Adding to the pressure was a disappointing read on U.S. retail sales, which fell 0.9 percent in May, more than economists had expected. The decline suggests that consumers may have front-loaded spending in anticipation of higher prices from incoming tariffs and are now pulling back. "The economy is slowing with consumers nervous about exactly what lies ahead and are choosing to save overall rather than flash some cash at the shops and malls," said Chris Rupkey, Fwdbonds chief economist. Markets are now turning their attention to the Federal Reserve's two-day policy meeting which began Tuesday. The Fed is widely expected to hold interest rates steady on Wednesday, but investors will be watching closely for any changes to the central bank's projections. Questions remain over whether policymakers still anticipate two rate cuts in 2025, especially amid recent signs of easing inflation and fragile consumer demand.
The Star
38 minutes ago
- The Star
US judge blocks Trump passport policy targeting transgender people
U.S. President Donald Trump gestures as he attends a family photo session during the G7 Summit, in Kananaskis, Alberta, Canada, June 16, 2025. REUTERS/Suzanne Plunkett/Pool/File Photo
The Star
3 hours ago
- The Star
ICE walks back limits on raids targeting farms, restaurants and hotels
Law enforcement officers stand guard, as people march through downtown as part of the ongoing protests against Immigration and Customs Enforcement (ICE), in Los Angeles, California, U.S. June 11, 2025. REUTERS/Leah Millis/File Photo WASHINGTON (Reuters) -U.S. immigration officials have walked back limits on enforcement targeting farms, restaurants, hotels and food processing plants just days after putting restrictions in place, two former officials familiar with the matter said, an abrupt shift that followed contradictory public statements by President Donald Trump. U.S. Immigration and Customs Enforcement leadership told field office heads during a call on Monday that it would roll back a directive issued last week that largely paused raids on the businesses, the former officials said, requesting anonymity to discuss the new guidance. ICE officials were told a daily quota to make 3,000 arrests per day - 10 times the average last year during former President Joe Biden's administration - would remain in effect, the former officials said. ICE field office heads had raised concerns they could not meet the quota without raids at the businesses that had been exempted, one of the sources said. It was not clear why last week's directive was reversed. Some ICE officials left the call confused, and it appeared they would still need to tread carefully with raids on the previously exempted businesses, the former officials said. U.S. Department of Homeland Security spokesperson Tricia McLaughlin said ICE would continue to make arrests at worksites but did not respond to questions about the new guidance. "There will be no safe spaces for industries who harbor violent criminals or purposely try to undermine ICE's efforts," she said in a statement on Tuesday. The Washington Post first reported the reversal. Trump took office in January aiming to deport record numbers of immigrants in the U.S. illegally. ICE doubled the pace of arrests under Trump compared with last year but still remains far below what would be needed to deport millions of people. Top White House aide Stephen Miller ordered ICE in late May to dramatically increase arrests to 3,000 per day, leading to intensified raids that prominently targeted some businesses. Trump said in a Truth Social post on Thursday that farms and hotel businesses had been suffering from the ramped up enforcement but also said, without evidence or explanation, that criminals were trying to fill those jobs. ICE issued guidance that day pausing most immigration enforcement at agricultural, hospitality and food processing businesses. But in another Truth Social post on Sunday, Trump called on ICE to target the Democratic strongholds of Los Angeles, Chicago and New York and to use the full extent of their authority to increase deportations. A White House official said Trump was keeping a promise to deliver the country's single largest mass deportation program. "Anyone present in the United States illegally is at risk of deportation," the White House official said. Deborah Fleischaker, who held senior roles at both DHS and ICE during Biden's presidency, said the shifting ICE guidance reflects broader turmoil at the agency since Trump took office. The White House has ousted multiple ICE leaders as it pressed for more arrests. "It has been chaos and confusion since the beginning," she said. FARMERS PUSH BACK The intensified ICE enforcement after Miller's late May order renewedlong-running concerns among farmers about ICE operations targeting their workforce. Nearly half the nation's approximately 2 million farm workers lack legal status, according to the departments of Labor and Agriculture, as do many dairy and meatpacking workers. Farm industry fears escalated last week when ICE detentions and arrests of workers were reported at California farms, a Nebraska meatpacking plant and a New Mexico dairy. Livestock and restaurant sector representatives said on a press call organized by the American Business Immigration Coalition on Tuesday that raids make operations more difficult in their heavily immigrant-dependent industries. "The people pushing for these raids that target farms and feedyards and dairies have no idea how farms operate," said Matt Teagarden, CEO of the Kansas Livestock Association. Michael Marsh, CEO of the National Council of Agricultural Employers, said farm groups had not had enough input into the administration's decision-making so far on immigration enforcement in agriculture. Marsh said he had not received responses from Agricultural Secretary Brooke Rollins, Homeland Secretary Kristi Noem and other officials to a letter sent last week requesting a meeting. "We've got a serious issue if we have almost a million of our workers that are going to be subject to deportation," he said. "Because if that's the case, and they are picked up and they are gone, we can't fill those positions." (Reporting by Ted Hesson and Leah Douglas in Washington; Editing by Colleen Jenkins and Daniel Wallis)
