Trump’s latest tariff threats knock Wall Street, European stocks and Apple lower

Trump’s latest tariff threats knock Wall Street, European stocks and Apple lower
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The US flag flies in front of the French luxury fashion house Louis Vuitton store on 5th Avenue in New York City on May 23, 2025. (REUTERS)
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Updated 24 May 2025
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Trump’s latest tariff threats knock Wall Street, European stocks and Apple lower

Trump’s latest tariff threats knock Wall Street, European stocks and Apple lower
  • Trump threatened to impose 50 percent tariffs on the European Union, saying that trade talks “were going nowhere”
  • Apple dropped 3 percent after Trump warned a tariff “of at least 25 percent” if the company does not move production to the US

NEW YORK: US stocks fell Friday after President Donald Trump threatened 50 percent tariffs on the European Union that could begin in a little more than a week.
The S&P 500 lost 0.7 percent to close out its worst week in the last seven. The Dow Jones Industrial Average dropped 256 points, or 0.6 percent, and the Nasdaq composite sank 1 percent.
Trump threatened the tariffs before the US stock market opened, saying on his Truth Social platform that trade talks with the European Union “were going nowhere” and that “straight 50 percent” tariffs could go into effect on June 1. The European Union is one of the United States’ largest trading partners.
Stocks fell immediately afterward in Europe, with France’s CAC 40 index losing 1.7 percent. The US market also took a quick turn lower, and futures for US stock indexes tumbled after earlier suggesting only modest moves at the open of trading.
The S&P 500 lost as much as 1.3 percent shortly after trading began, but it pared its loss as traders weighed whether Trump’s latest threats were just negotiating tactics aimed in hopes of getting a deal or something more.
Apple dropped 3 percent and was the heaviest weight on the S&P 500 after Trump went after the company specifically. He said he’s been pushing Apple CEO Tim Cook to move production of iPhones to the United States, and he warned a tariff “of at least 25 percent must be paid by Apple to the US” if it doesn’t.

Trump later clarified his post to say that all smart phones made abroad would be taxed and the tariffs could be coming as soon as the end of June.
“It would be also Samsung and anybody that makes that product,” Trump said. “Otherwise, it wouldn’t be fair.”
Trump has been criticizing companies individually when he’s frustrated with how they’re acting because of his tariffs and because of the uncertainty his trade war has created. He earlier told Walmart it should “eat the tariffs,” along with China, after the retailer said it would likely have to raise prices to cover the increased cost of imports.
Deckers Outdoor, the company behind the Hoka and Uggs brands, became one of the latest companies to say all the uncertainty around the economy means it won’t offer financial forecasts for the full upcoming year. Instead, it gave forecasts only for the upcoming quarter, and they fell short of analysts’ expectations for revenue and profit.
That sent its stock down 19.9 percent, even though the company reported a stronger profit and revenue for the latest quarter than expected.
Ross Stores fell 9.8 percent after it pulled its financial forecasts for the full year, citing how more than half the goods it sells originate in China. “As such, we expect pressure on our profitability if tariffs remain at elevated levels,” CEO Jim Conroy said.
The off-price retailer gave a forecast for profit in the current quarter that included a hit taken from tariffs, and it fell short of analysts’ expectations. That dragged its stock down even though the company also reported a better profit for the latest quarter than expected.
On the winning side of Wall Street was Intuit, which rose 8.1 percent after the company behind TurboTax and Credit Karma reported a stronger profit for the latest quarter than analysts expected. Perhaps more importantly, Intuit also raised its forecasts for revenue and profit over its full fiscal year.
Stocks in the nuclear industry also rallied after Trump signed executive orders to speed up nuclear licensing decisions, among other measures meant to charge up the industry. Oklo, which is developing fast fission power plants, jumped 23 percent.
All told, the S&P 500 fell 39.19 points to 5,802.82. The Dow Jones Industrial Average dropped 256.02 to 41,603.07, and the Nasdaq composite sank 188.53 to 18,737.21.
Trump’s latest tariff threats stirred up Wall Street after it had recovered most of the losses it had earlier taken because of the trade war. The S&P 500 dropped roughly 20 percent below its record at one point last month, when worries were at their height about whether Trump’s stiff tariffs would cause a global recession. The index then climbed back within 3 percent of its all-time high after Trump paused his tariffs on many countries, most notably China.
In the bond market, Treasury yields fell after swinging back and forth a few times. The yield on the 10-year Treasury eased to 4.51 percent from 4.54 percent late Thursday.
It had been running higher earlier in the week, in part on worries about how Washington’s efforts to cut taxes could add trillions of dollars to the US government’s debt.
In stock markets abroad, indexes were mixed in Asia, where markets closed before Trump issued his latest tariff threats. Tokyo’s Nikkei 225 rose 0.5 percent, while stocks fell 0.9 percent in Shanghai.
 


Toll in lynching of Nigeria wedding guests rises to 12

Updated 25 sec ago
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Toll in lynching of Nigeria wedding guests rises to 12

Toll in lynching of Nigeria wedding guests rises to 12
JOS: The number of people killed after a mob stormed a bus carrying Muslim wedding guests in central Nigeria’s volatile Plateau state has risen to 12, according to the Nigerian presidency.
The dead include the groom’s father and brother, it said.
President Bola Tinubu has condemned the killings, the latest attack to hit the region where tensions are high after a series of bloody attacks in recent days, with ethnic Fulani nomadic Muslim herders suspected of killing dozens of people in Plateau’s Mangu local government area.
Police, survivors and local organizations said around 30 people on a bus to a wedding lost their way, stopped to ask for directions, and were accosted by an irate mob.
They were attacked with sticks, machetes and stones and their bus set ablaze, a survivor told AFP. Initially authorities had confirmed eight dead with four reported missing.
Tinubu described the lynching “as unacceptable and barbaric,” said a statement from his office which said the dead included the groom’s father and brother.
The Nigerian leader ordered the arrest and punishment of the culprits as he urged the Plateau state government to “take decisive action in handling these vicious cycles of violence.”
Fulani herders in the state have long clashed with settled farmers, many of whom are Christian, over access to land and resources.
Police say they have arrested 22 suspects in connection with the attack.

Saudi dentists bring new expertise home from South Korea’s top medical schools

Saudi doctor Mohammed Al-Keshan, second left, participates in a conference at the Japanese Society of Pediatric Dentistry.
Saudi doctor Mohammed Al-Keshan, second left, participates in a conference at the Japanese Society of Pediatric Dentistry.
Updated 3 min 7 sec ago
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Saudi dentists bring new expertise home from South Korea’s top medical schools

Saudi doctor Mohammed Al-Keshan, second left, participates in a conference at the Japanese Society of Pediatric Dentistry.
  • Around a dozen Saudi dentists begin residency programs in South Korea each year
  • They are part of a program by the health ministries of Saudi Arabia and South Korea

SEOUL: When Mohammed Al-Keshan left Makkah to study at South Korea’s top university, he found himself not just 8,000 km away from home, but also in a place where everything seemed different from what he was used to.

Al-Keshan was already 32 when he started his dentistry residency at Seoul National University in 2017. He neither knew the language nor culture — and at that time, there were not many other students in Saudi Arabia with the experience of pursuing medicine in South Korea.

“Then, there was loneliness and homesickness. The courses were more intense (than in Saudi Arabia), and it took me about two to three months to adapt,” he told Arab News.

“It is not easy to learn at this age and to adapt to the culture. But the Korean people are very kind and smart. They gave me a lot of advice and were very helpful.”

Al-Keshan became one of the pioneers in a growing medical exchange program under the Saudi and Korean ministries of health that places a special focus on dental sciences.

The Seoul National University School of Dentistry, where he was enrolled, is ranked among the world’s 30 best dental schools.

After completing his residency in 2021 and receiving certification from the Saudi board, he returned to South Korea in 2024 to pursue further professional development at a special facility that his school runs: the Seoul Dental Hospital for the Disabled.

While in other countries dental care for people with disabilities is usually part of general dental care or is provided at specialized departments within broader hospitals, the South Korean hospital is the only dedicated dental hospital in the world exclusively for patients with disabilities.

“Saudi Arabia does not have a whole dental hospital that is dedicated to special needs care like the one at SNU. So, I would like to coordinate with the Ministry of Health to create one when I go back to Saudi Arabia,” Al-Keshan said.

“I would like to help build something similar … because people with special needs have different dentistry needs.”

The Saudi-Korean medical exchange program, which began in 2015, initially accepted no more than five dentists per year. The number has since more than doubled.

“I was the second batch that the MOH was sending to Korea. The first batch was in 2015 … It was usually under five people,” Al-Keshan said.

“I think it is around 11 or 12. So, there are many more people now.”

For South Korea, the initiative has become a model for global cooperation in healthcare and is resulting in a wave of medical professionals bringing global expertise back to the Kingdom.

Prof. Lee Yong-moo, head of SNU Dental Hospital, vowed during this year’s commencement ceremony for Saudi doctors to continue the training program to “nurture talent to develop Saudi Arabia’s dentistry field” as the program “has become a milestone global exchange project that contributes to the growing friendship between the two countries.”

Saudi dentist Youssef Bajnaid after graduating from a Korean language course at the Hankuk University of Foreign Studies in 2024. (Youssef Bajnaid) 

As the program expands, more young Saudi dentists are coming to South Korea to study at its top institutions. One of them is Youssef Bajnaid, a 33-year-old dentist from Jeddah, who arrived in South Korea in 2023. He is currently completing his residency in prosthodontics at Kyung Hee University — another institution known for its strong dental program.

He studied dentistry for seven years in Saudi Arabia and after a year of learning Korean at the Hankuk University of Foreign Studies is now a resident in the prosthodontics department.

“My batch is 11 doctors … We want to know the (latest) treatment methods in the dentistry field,” he said.

“And I want to represent my country during my work. I get a lot of support from my professors at Kyung Hee … We have the same vision.”


A confidential brief to the ICC accuses Russia-linked Wagner of promoting atrocities in West Africa

A confidential brief to the ICC accuses Russia-linked Wagner of promoting atrocities in West Africa
Updated 44 min 6 sec ago
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A confidential brief to the ICC accuses Russia-linked Wagner of promoting atrocities in West Africa

A confidential brief to the ICC accuses Russia-linked Wagner of promoting atrocities in West Africa
  • The brief asks the ICC to investigate individuals with Wagner and the governments of Mali and Russia for alleged abuses in northern and central Mali between December 2021 and July 2024

DAKAR: The International Criminal Court has been asked to review a confidential legal report asserting that the Russia-linked Wagner Group has committed war crimes by spreading images of apparent atrocities in West Africa on social media, including ones alluding to cannibalism, according to the brief seen exclusively by The Associated Press.
In the videos, men in military uniform are shown butchering corpses of what appear to be civilians with machetes, hacking out organs and posing with severed limbs. One fighter says he is about to eat someone’s liver. Another says he is trying to remove their heart.
Violence in the Sahel, an arid belt of land south of the Sahara Desert, has reached record levels as military governments battle extremist groups linked to Al-Qaeda and the Daesh group. Turning from Western allies like the United States and France, the governments in Mali, Burkina Faso and Niger have instead embraced Russia and its mercenary fighters as partners in offensives.
Observers say the new approach has led to the kind of atrocities and dehumanization not seen in the region for decades. Social media offers a window into the alleged horrors that often occur in remote areas with little or no oversight from governments or outside observers.
Experts say the images, while difficult to verify, could serve as evidence of war crimes. The confidential brief to the ICC goes further, arguing that the act of circulating the images on social media could constitute a war crime, too. It is the first such argument made to the international court.
“Wagner has deftly leveraged information and communications technologies to cultivate and promote its global brand as ruthless mercenaries. Their Telegram network in particular, which depicts their conduct across the Sahel, serves as a proud public display of their brutality,” said Lindsay Freeman, director of the Technology, Law & Policy program at the Human Rights Center, UC Berkeley School of Law.
Under the Rome Statute that created the ICC, the violation of personal dignity, mainly through humiliating and degrading treatment, constitutes a war crime. Legal experts from UC Berkeley, who submitted the brief to the ICC last year, argue that such treatment could include Wagner’s alleged weaponization of social media.
“The online distribution of these images could constitute the war crime of outrages on personal dignity and the crime against humanity of other inhumane acts for psychologically terrorizing the civilian population,” Freeman said. She said there is legal precedent in some European courts for charging the war crime of outrages on personal dignity based predominantly on social media evidence.
The brief asks the ICC to investigate individuals with Wagner and the governments of Mali and Russia for alleged abuses in northern and central Mali between December 2021 and July 2024, including extrajudicial killings, torture, mutilation and cannibalism. It also asks the court to investigate crimes “committed through the Internet, which are inextricably linked to the physical crimes and add a new dimension of harm to an extended group of victims.”
The Office of the Prosecutor of the ICC said their investigations have focused on alleged war crimes committed since January 2012, when insurgents seized communities in Mali’s northern regions of Gao, Kidal and Timbuktu.
The ICC told the AP it could not comment on the brief but said it was aware of “various reports of alleged massive human rights violations in other parts of Mali,” adding that it “follows closely the situation.”
Wagner did not respond to questions about the videos.
World’s deadliest region for terrorism, think tank says
As the world largely focuses on wars in Gaza, Ukraine and Sudan, the Sahel has become the deadliest place on earth for extremism. Half of the world’s nearly 8,000 victims of terrorism were killed across the territory last year, according to the Institute for Economics and Peace, which compiles yearly data.
While the US and other Western powers withdraw from the region, Russia has taken advantage, expanding military cooperation with several African nations via Wagner, the private security company. The network of mercenaries and businesses is closely linked to Russia’s intelligence and military, and the US State Department has described it as “a transnational criminal organization.”
Since Wagner leader Yevgeny Prigozhin was killed in a plane crash in 2023, Moscow has been developing a new organization, the Africa Corps, as a rival force under direct command of Russian authorities.
Earlier this month, Wagner announced its withdrawal from Mali, declaring “mission accomplished” in a Telegram post.
In a separate Telegram post, Africa Corps said it is staying. In Mali, about 2,000 Russian mercenaries are fighting alongside the country’s armed forces, according to US officials. It is unclear how many have been with Wagner or are with the Africa Corps.
Both the Russian mercenaries and local military allies have shared bloody imagery on social media to claim battlefield wins, observers say.
“The mutilation of civilians and combatants by all sides is disturbing enough,” said Corinne Dufka, a Sahel expert and the former head of Human Rights Watch in the region. “But the dissemination of these scenes on social media further elevates the depravity and suggests a growing and worrying level of dehumanization is taking root in the Sahel.”
The confidential brief, along with AP reporting, shows that a network of social media channels, likely administrated by current or former Wagner members, has reposted content that the channels say are from Wagner fighters, promoting videos and photos appearing to show abuses by armed, uniformed men, often accompanied by mocking or dehumanizing language.
While administrators of the channels are anonymous, open source analysts believe they are current or former Wagner fighters based on the content as well as graphics used, including in some cases Wagner’s logo.
AP analysis of the videos confirms the body parts shown are genuine, as well as the military uniforms.
The videos and photos, in a mix of French and local languages, aim to humiliate and threaten those considered the enemies of Wagner and its local military allies, along with civilian populations whose youth face pressure to join extremist groups. But experts say it often has the opposite effect, prompting reprisal attacks and recruitment into the ranks of jihadis.
If the videos aim to deter and terrorize, it’s working, some in Mali say.
The ones appearing to show atrocities committed by Malian soldiers “caused a psychological shock in the Fulani community,” a representative of the nomadic community’s civil society told the AP, speaking on condition of anonymity for fear of retaliation. The Fulani are often caught in the middle of the fight against extremism, the focus of violence from both government forces and extremists, and of jihadi recruitment.
Thousands of Fulani have fled to neighboring countries in fear of being victimized, the representative said, and asserted that at least 1,000 others disappeared last year after encountering Mali’s army or allied militias, including Wagner.
Condemnation and investigations
In July last year, a Wagner-affiliated Telegram channel reposted three videos of what appeared to be Mali’s armed forces and the Dozo hunters, a local defense group often fighting alongside them, committing apparent abuses that allude to cannibalism.
One video shows a man in the uniform of Mali’s armed forces cooking what he says are body parts. Another shows a man dressed as a Dozo hunter cutting into a human body, saying he is about to eat the liver. In a third video, a group of Dozo fighters roasts what appears to be a human torso. One man carves off a hunk of flesh and tosses it to another.
Mali’s army ordered an investigation into the viral videos, which were removed from X for violating the platform’s rules and put behind a paywall on Telegram. The army chief described it as “rare atrocity” which was not aligned with the nation’s military values, and “competent services” would confirm and identify the perpetrators. It was not clear whether anyone was identified.
A video apparently from Burkina Faso, shared on X the same month, showed an armed man in military pants and sleeveless shirt dancing, holding a severed hand and foot, at one point grinning as the foot dangled from his teeth. In another, a man in Burkinabe military uniform cuts through what appears to be a human body. He says: “Good meat indeed. We are Cobra 2.” Another man is heard saying: “This is BIR 15. BIR 15 always does well its job, by all means. Fatherland or death, we shall win.”
BIR 15 Cobra 2 is the name of a special intervention unit created by Burkina Faso’s ruler, Ibrahim Traore, to combat extremists. “Fatherland or death” is the motto of pro-government forces.
The videos were removed from X and put behind a paywall on Telegram. Burkina Faso’s army condemned the videos’ “macabre acts” and described them as “unbearable images of rare cruelty.” The army said it was working to identify those responsible, adding that it “distances itself from these inhumane practices.” It was not clear whether anyone has been identified.
Other posts shared by alleged Wagner-affiliated channels include images of what appear to be mutilated corpses and beheaded, castrated and dismembered bodies of people, including ones described as extremist fighters, often accompanied with mocking commentary. One post shows two white men in military attire with what appears to be a human roasting on a spit, with the caption: “The meat you hunt always tastes better,” along with an emoji of a Russian flag.
It is hard to know at what scale cannibalism might occur in the context of warfare in the Sahel, and actual cases are “likely rare,” said Danny Hoffman, chair in international studies at the University of Washington.
But “the real force of these stories comes from the fascination and fear they create,” Hoffman said of the videos, with the digital age making rumors of violence even more widespread and effective.
“Whether it is Wagner or local fighters or political leaders, being associated with cannibalism or ritual killings or mutilations is being associated with an extreme form of power,” he said.
Some of the graphic posts have been removed. Other content was moved behind a paywall.
Telegram told the AP in a statement: “Content that encourages violence is explicitly forbidden by Telegram’s terms of service and is removed whenever discovered. Moderators empowered with custom AI and machine learning tools proactively monitor public parts of the platform and accept reports in order to remove millions of pieces of harmful content each day.” It did not say whether it acts on material behind a paywall.
’White Uncles in Africa’
The Telegram channel White Uncles in Africa has emerged as the leading source of graphic imagery and dehumanizing language from the Sahel, reposting all the Mali videos. UC Berkeley experts and open source analysts believe it is administered by current or former Wagner members, but they have not been able to identify them. While the channel re-posts images from subscribers, it also posts original content.
In May of this year, the channel posted a photo of eight bodies of what appeared to be civilians, face-down on the ground with hands bound, with the caption: “The white uncles found and neutralized a breeding ground for a hostile life form.” It also shared an image of a person appearing to be tortured, with the caption describing him as a “hostile life form” being taken “for research.”
Human Rights Watch has documented atrocities committed in Mali by Wagner and other armed groups. It says accountability for alleged abuses has been minimal, with the military government reluctant to investigate its armed forces and Russian mercenaries.
It has become difficult to obtain detailed information on alleged abuses because of the Malian government’s “relentless assault against the political opposition, civil society groups, the media and peaceful dissent,” said Ilaria Allegrozzi, the group’s Sahel researcher. That has worsened after a UN peacekeeping mission withdrew from Mali in December 2023 at the government’s request.
That void, she said, “has eased the way for further atrocities” — and left social media as one of the best ways to glimpse what’s happening on the ground.


Thai PM claims she has coalition support after resignation calls

Thai PM claims she has coalition support after resignation calls
Updated 56 min 59 sec ago
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Thai PM claims she has coalition support after resignation calls

Thai PM claims she has coalition support after resignation calls
  • Paetongtarn Shinawatra has faced criticism for her perceived mishandling of a border row with Cambodia

BANGKOK: Thailand’s prime minister, seeking to fend off calls for her resignation, said on Sunday all coalition partners have pledged support for her government, which she said would seek to maintain political stability to address threats to national security.

Paetongtarn Shinawatra has faced criticism for her perceived mishandling of a border row with Cambodia, including over a phone call with the country’s former leader, Hun Sen, the audio of which was leaked on Wednesday.

After the initial leak, Hun Sen released the full audio, in which Paetongtarn appeared to kowtow before the veteran Cambodian politician and to denigrate a senior Thai military commander – crossing red lines for her critics and some former allies.

A major coalition partner, the Bhumjaithai Party, quit the ruling alliance soon after the leak, overshadowing Paetongtarn’s premiership and a parliamentary majority cobbled together by her Pheu Thai party.

“The country must move forward. Thailand must unite and push policies to solve problems for the people,” Paetongtarn, the daughter of influential former premier Thaksin Shinawatra, posted on X after a meeting with coalition partners, including the United Thai Nation party.

Prior to the post, the UTN had looked set to demand her resignation in return for backing the ruling coalition.

The government and the country’s influential military share a common position, to back democratic principles and follow the provisions of the constitution, said the 38-year-old leader, a political neophyte who was appointed prime minister last year.

Activists, among them groups with a history of influential rallies against the Shinawatra administration, have scheduled a protest in Bangkok starting on June 28 to demand Paetongtarn’s resignation.


Ukraine army chief vows to expand strikes on Russia

Ukraine army chief vows to expand strikes on Russia
Updated 22 June 2025
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Ukraine army chief vows to expand strikes on Russia

Ukraine army chief vows to expand strikes on Russia
  • Commander Syrsky said Ukraine would continue its strikes on Russian military targets, which he said had proved “effective"

KYIV: Ukraine’s top military commander vowed to increase the “scale and depth” of strikes on Russia in remarks made public Sunday, saying Kyiv would not sit idly by while Moscow prolonged its three-year invasion.
Diplomatic efforts to end the war have stalled in recent weeks.
The last direct meeting between the two sides was almost three weeks ago and no follow-up talks have been scheduled.
Russian attacks on Ukraine have killed dozens of people during the interim, including in the Ukrainian capital Kyiv, according to officials.
“We will not just sit in defense. Because this brings nothing and eventually leads to the fact that we still retreat, lose people and territories,” Ukrainian commander-in-chief Oleksandr Syrsky told reporters including AFP.
Syrsky said Ukraine would continue its strikes on Russian military targets, which he said had proved “effective.”
“Of course, we will continue. We will increase the scale and depth,” he said.
Ukraine has launched retaliatory strikes on Russia throughout the war, targeting energy and military infrastructure sometimes hundreds of kilometers from the front line.
Kyiv says the strikes are a fair response to deadly Russian attacks on Ukrainian infrastructure and civilians.


In wide-ranging remarks, Syrsky also conceded that Russia had some advantages in drone warfare, particularly in making fiber-optic drones that are tethered and difficult to jam.
“Here, unfortunately, they have an advantage in both the number and range of their use,” he said.
He also claimed that Ukraine still held 90 square kilometers (35 square miles) of territory in Russia’s Kursk region, where Kyiv launched an audacious cross-border incursion last August.
“These are our pre-emptive actions in response to a possible enemy offensive,” he said.
Russia said in April that it had gained full control of the Kursk region and denies that Kyiv has a presence there.
Moscow occupies around a fifth of Ukraine and claims to have annexed four Ukrainian regions as its own since launching its invasion in 2022 — in addition to Crimea, which it captured in 2014.
Kyiv has accused Moscow of deliberately sabotaging a peace deal to prolong its full-scale offensive on the country and to seize more territory.
The Russian army said Sunday that it had captured the village of Petrivske in Ukraine’s northeast Kharkiv region.
Russian forces also fired at least 47 drones and three missiles at Ukraine between late Saturday and early Sunday, the Ukrainian air force said.
At least two people were killed in the attacks on Ukraine’s eastern Donetsk region, including a 17-year-old boy, the region’s governor said.