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In a significant market downturn, Wall Street stocks plunged on Thursday, with the S&P 500 dropping over four percent following President Donald Trump's sweeping tariff announcement, dubbed "Liberation Day." The new levies, impacting all US trading partners, particularly affected key sectors such as banking, technology, and apparel, with only consumer staples showing resilience. By 1510 GMT, the S&P 500 was at 5,420.15, down 4.4 percent, while the Dow Jones Industrial Average fell 3.7 percent and the Nasdaq Composite Index plummeted 5.7 percent. Analysts expressed concerns over the tariffs' potential to reduce corporate earnings and reignite inflation, with some predicting a looming recession and bear market. Notably, major companies like Nike, Macy's, and Apple experienced significant losses, underscoring the uncertainty in the market. Experts suggest that the administration may reconsider the tariffs as negotiations evolve, highlighting the precarious economic landscape ahead. 
Published: Apr 04 2025, 12 ameznews.inExperts are advising American consumers to buy certain everyday items soon, as prices are set to rise following President Donald Trump's newly announced tariffs, which include a base rate of 10% on imports and can reach up to 200% on products such as European Union alcohol. Economists warn that grocery prices, particularly for perishable goods like avocados—80% of which are imported—will spike almost immediately. Other staples like coffee, tea, and bananas, along with electronics, furniture, and clothing, are also expected to see significant price increases. Additionally, a 25% tariff on imported vehicles and auto parts will take effect soon, although existing inventories may delay immediate price hikes. Countries like Vietnam and South Africa will face tariffs of 46% and 30%, respectively. These measures, part of Trump's "Make America Wealthy Again" initiative, aim to reduce reliance on imports but could burden consumers with higher costs.
Published: Apr 04 2025, 7 pmeznews.inChina has retaliated against US President Donald Trump's latest tariffs, imposing a hefty 34 percent levy on all American imports, escalating the ongoing trade war between the two economic giants. In 2023, China exported over $500 billion worth of goods to the US, while importing $143.5 billion, resulting in a significant trade surplus of $295.4 billion for China. The new tariffs, which compound previous rates, threaten to impact China's fragile economic recovery amid a debt crisis and low consumption. Analysts predict these tariffs could reduce China's GDP growth by up to one percent and adversely affect US manufacturers reliant on Chinese goods. Beijing's response also includes export controls on rare earth elements, vital for technology. While calls for dialogue persist, experts warn that resolving the dispute will be a slow process, as tariffs tend to escalate quickly but decrease slowly.
Published: Apr 04 2025, 7 pmeznews.inIn a provocative statement on Truth Social, former President Donald Trump criticized China for its recent decision to impose counter-tariffs amid escalating trade tensions. He accused the country of "panicking" and asserted that this reaction was a significant misstep. "China played it wrong, they panicked -- the one thing they cannot afford to do!" Trump declared, emphasizing his trademark style of using all capital letters. This exchange highlights the ongoing friction between the United States and China as the global trade war intensifies, with both nations engaging in retaliatory measures that could have far-reaching economic implications. Trump's comments reflect a broader narrative of competitive nationalism, as both countries navigate complex trade dynamics in an increasingly polarized global landscape.
Published: Apr 04 2025, 7 pmeznews.inWall Street experienced a tumultuous start to trading on Friday, with all three major indices plummeting over two percent. This decline follows a significant drop in the S&P 500 on Thursday, marking its largest decrease since 2020, triggered by President Donald Trump's controversial "Liberation Day" tariff announcement. Despite strong US hiring data, investor sentiment remained fragile as China retaliated with substantial tariffs in response to Trump's levies. The market's downward trajectory reflects growing concerns over escalating trade tensions and their potential impact on the economy. As traders brace for a challenging session, the implications of these developments continue to reverberate through financial markets.
Published: Apr 04 2025, 7 pmeznews.inMicrosoft celebrated its 50th anniversary by reuniting co-founder Bill Gates, former CEO Steve Ballmer, and current CEO Satya Nadella, who engaged in a humorous interview with the company's AI bot, Copilot. Nadella initiated the lighthearted exchange, prompting Copilot to roast each CEO. The AI teased Ballmer about his energetic pep talks, while Gates's intense gaze was humorously described as potentially intimidating to AI. Gates quipped that his critical thinking remains his distinguishing feature amid advancing AI. Nadella shared a cricket analogy to address concerns about AI taking over, suggesting that it must first excel in the sport. The playful banter concluded with Copilot wishing for another 50 years of innovation. Meanwhile, Microsoft launched new web pages to commemorate its history and outline its vision for the future, detailing milestones since its founding in 1975 by Gates and Paul Allen.
Published: Apr 04 2025, 8 pmeznews.inMicrosoft marks its 50th anniversary as a tech giant, evolving from a small Albuquerque startup founded by Bill Gates and Paul Allen to a powerhouse with a net profit of $88 billion from $245 billion in sales in 2024. The company, valued at nearly $3 trillion, ranks as the second-most valuable globally, trailing only Apple. Microsoft's journey can be divided into four eras: initially capitalizing on IBM's need for an operating system, then revolutionizing personal computing with Windows; facing challenges from the internet boom and internal conflicts under CEO Steve Ballmer; and finally, reinventing itself under Satya Nadella through a focus on cloud services and strategic acquisitions, including LinkedIn and OpenAI. As it embraces modern technologies like AI, Microsoft seeks to maintain its relevance and appeal to a new generation of talent, though its future remains uncertain.
Published: Apr 04 2025, 6 pmeznews.inIndia's Ministry of External Affairs has disclosed that 682 Indian nationals have been deported from the United States since January 2025, primarily for illegal entry attempts. Minister of State for External Affairs, Kirti Vardhan Singh, addressed the Lok Sabha, asserting that these deportations would not significantly affect remittance flows, as most deportees were apprehended at the border. The Indian government is actively collaborating with US authorities to combat illegal immigration and human trafficking, targeting criminal networks involved in these activities. Singh emphasized that only verified Indian nationals are accepted for deportation, and ongoing investigations into illegal immigration agents have been initiated based on testimonies from returning deportees. Since 2009, the US has deported 15,564 Indians, with 388 deported in 2025 alone, raising concerns about the treatment of deportees, which the Indian government has formally communicated to US officials.
Published: Apr 04 2025, 6 pmeznews.inRecent findings from the Dark Energy Spectroscopy Instrument (DESI) at Arizona's Mayall Telescope have revealed significant insights into the nature of dark energy, a force believed to drive the universe's expansion. This extensive survey, which maps 15 million galaxies and captures light emitted 11 billion years ago, suggests that dark energy may not be a constant, as previously thought. Instead, researchers propose it could evolve over time, challenging existing cosmological models. The implications are profound; if dark energy's influence diminishes, it could lead to a future scenario known as the "Big Crunch," where cosmic expansion reverses. While the DESI data aligns with established models, a combination of new findings could necessitate a radical rethinking of cosmology. As scientists delve deeper into these mysteries, ongoing projects like Euclid and J-PAS may provide further clarity, marking an exciting era for cosmological research.
Published: Apr 04 2025, 6 pmeznews.inUS stock futures plunged sharply today, indicating further losses on Wall Street, following China's announcement of new tariffs in retaliation to the Trump administration's recent levies, which have already wiped $2.4 trillion from US equities. In India, the NSE Nifty 50 and BSE Sensex mirrored this decline amid growing concerns over global trade stability. Harvard professor Lawrence H. Summers described the market's downturn as the worst in five years, attributing it to unprecedented policy responses rather than external crises. Critics have pointed out that Trump's Truth Social platform sold stock just before the tariffs were announced, raising ethical questions. Meanwhile, layoffs in the US surged by 205% in March, exacerbating fears over the economic impact of Trump's trade war. Despite the turmoil, Trump remains optimistic, asserting that the market will rebound, while announcing additional import duties set to take effect soon.
Published: Apr 04 2025, 6 pmeznews.inA revolution in space travel is on the horizon as British startup Pulsar Fusion unveils its innovative nuclear fusion-powered rocket, the Sunbird. Designed to rendezvous with spacecraft in orbit, the Sunbird will attach itself and utilize nuclear fusion to propel them at unprecedented speeds. Founder Richard Dinan emphasized that space is a more logical environment for fusion, which is challenging to achieve on Earth. The rocket will employ Duel Direct Fusion Drive (DDFD) engines, using helium-3 and deuterium to generate propulsion through charged particles. Although the technology could potentially reduce travel time to Mars by half and reach Pluto in four years, successful space testing of fusion remains unproven. Currently in early development, Pulsar aims to achieve orbital fusion by 2027. Initially, Sunbirds will transport satellites, but their true capabilities may revolutionize interplanetary missions.
Published: Apr 04 2025, 4 pm
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