Global Stock Selloff Eases;Trump to Meet US CEOs; Delta Slashes Outlook
US equity futures rebound after a selloff that wiped out $1 trillion off of the Nasdaq 100, marking the worst day for the index since 2022. President Trump is scheduled to meet with top business executives amid policy uncertainties. Delta cut its profit forecast on weakening travel demand with a warning on the economy. Newton's Ella Hoxha and RBC's Lori Calvasina discuss market volatility as recession woes keep investors on edge. (Source: Bloomberg)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
15 minutes ago
- Hamilton Spectator
Senate rejects effort to block arms sales over Trump's dealings with Qatar and UAE
WASHINGTON (AP) — Senate Republicans have blocked an effort by Democrats to temporarily block arms sales to Qatar and the United Arab Emirates in response to President Donald Trump's dealings in the region. Democrats forced two procedural votes Wednesday to protest Qatar's donation of a $400 million plane to be used as Air Force One and a $2 billion investment by a UAE-backed company using a Trump family-linked stablecoin, a form of cryptocurrency. Sen. Chris Murphy, who led the Democratic effort, said the U.S. Senate should not 'grease the wheels' for Trump. 'We can do that by voting to block these two arms sales to Qatar and to the UAE — not permanently, but until both countries commit to deny Trump's requests for personal enrichment as part of the bilateral relationship,' Murphy said. Trump's administration is still sorting out the legal arrangement for accepting a luxury jet from the Qatari royal family and how the plane would be modified so it is safe for the president, who has called the arrangement a 'no brainer' as a new Air Force One has faced delays at U.S.-based Boeing. Trump said he wouldn't fly around in the gifted Boeing 747 when his term ends, but Democrats, and even some Republicans, have strongly questioned the ethics of the arrangement. At a hearing on Wednesday, Defense Secretary Pete Hegseth refused to provide details on plans for his department to accept the jet. He said budgeting and schedules for security upgrades to turn the plane into the president's aircraft are classified. 'A memorandum of understanding remains to be signed,' Hegseth said. Democrats have also raised ethical questions about the Trump family's stake in World Liberty Financial , a cryptocurrency project that has launched its own stablecoin, USD1. Earlier this year, World Liberty announced an investment fund in the United Arab Emirates would be using $2 billion worth of USD1 to purchase a stake in Binance, the world's largest cryptocurrency exchange. Murphy forced the votes under a mechanism known as a joint resolution of disapproval that allows the Senate to reject arms sales. The procedural vote Wednesday blocked a Democratic motion to discharge the resolution from the Senate Foreign Relations Committee and move to an up-or-down vote on the Senate floor. The effort was mostly symbolic, as the measures would have had to pass both chambers of Congress and withstand any presidential veto to become law. But Murphy said the Senate should exercise its powers to oversee arms sales around the world. 'We place immense trust in the president not to abuse these incredible authorities that are given to him,' he said. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Bloomberg
19 minutes ago
- Bloomberg
Stocks to Open Flat as Trade Pact Details Awaited: Markets Wrap
Asian stocks may open with caution on Thursday as investors awaited further details on a US-China trade accord. Softer-than-expected US inflation supported the case for Federal Reserve rate cuts, spurring Treasuries higher. Asian equity futures held to muted moves early Thursday after the S&P 500 fell 0.3% Wednesday and the Nasdaq 100 dropped 0.4% as big tech weighed on US benchmarks. The declines halted a three-day advance for US stocks, with Apple Inc. down about 2%. In late hours, Oracle Corp. surged after revenue beat estimates. Contracts for US equities were little changed in early Asian trading.
Epoch Times
21 minutes ago
- Epoch Times
EPA to Roll Back Biden-Era Power Plant Emissions Rule
Environmental Protection Agency Administrator Lee Zeldin announced Wednesday that the Trump administration will seek to relax 'Clean Power Plant' greenhouse gas and mercury emission regulations imposed under the Biden and Obama administrations. 'Today is a historic day at the EPA,' he said during a 55-minute press conference at the agency's Washington offices. 'Today, EPA is taking an important step, reclaiming sanity and sound policy, illustrating that we can both protect the environment and grow the economy.'
