Tech selloff deepens

And the White House temporarily pauses grant, loan and other financial assistance programs.

Sign up for Reuters newsletters  Daily Briefing Daily Briefing By Kate Turton The global tech selloff deepens as DeepSeek upsets the AI race, Trump's White House pauses federal grant programs, and more peacekeepers are killed as Congo rebels face resistance in Goma. Plus, Google Maps will rename 'Gulf of Mexico' to 'Gulf of America' for US users. Today's Top News   Trump returns to the White House from Florida. January 27, 2025. REUTERS/Carlos Barria The Trump administration has temporarily paused grant, loan and other financial assistance programs at the Office of Management and Budget, according to a memo seen by Reuters, prompting criticism from congressional Democrats. The US president signed a series of executive orders to remove diversity, equity and inclusion from the military, reinstate thousands of troops who were kicked out for refusing COVID vaccines, and take aim at transgender troops. Auschwitz survivors warned of the dangers of rising antisemitism, as they marked the 80th anniversary of the liberation of the Nazi German death camp by Soviet troops in one of the last such gatherings of those who experienced its horrors. Gunfire rippled across east Congo's largest city Goma where Rwandan-backed M23 rebels still faced pockets of resistance from army and pro-government militias. Aid agencies say Goma hospitals are overwhelmed with the wounded, and there are dead bodies in the streets. Tens of thousands of Palestinians streamed along the main roads leading north in Gaza, jubilant to be returning home after months of living in temporary shelter but fearing what might remain of their homes amid the bombed-out ruins. Serbian Prime Minister Milos Vucevic announced his resignation, becoming the highest ranking official to leave since anti-corruption protests spread across the country. It's almost three years since Russia invaded Ukraine. In this live edition of The Big View podcast, economist and former Ukrainian minister Tymofiy Mylovanov talks about the damage to both sides, the effect of sanctions, and what a peace deal might look like. Business & Markets   Global technology shares sank as a market rout sparked by the emergence of a low-cost Chinese artificial intelligence model entered its second day. Listen to the Reuters World News podcast to hear from Editor Ken Li on the threat DeepSeek poses in the AI sector.  Please don't boycott Target: That's the message from Black founders and influencers to consumers about a backlash against the retailer's decision to end its diversity, equity and inclusion efforts. HSBC is preparing to wind down its M&A and equity capital markets businesses in Europe, the UK and the Americas as part of a major shake-up of its investment banking operations, a memo the bank sent staff showed. The German economy is in deep crisis, with gross domestic product likely to contract 0.1% this year, the BDI industry association said, putting it on track for three years of declining growth for the first time since reunification. Volkswagen and its Chinese partners have discussed the possibility of them investing in plants in Germany, VW Chief Executive Oliver Blume told Reuters. Trump's vow of tariffs on US copper and aluminium imports would result in higher costs for local consumers because of a shortfall of domestic production and the length of time it would take to renew the industry, analysts and industry participants said. Images show China building huge fusion research facility, analysts say   China appears to be building a large laser-ignited fusion research center in the southwestern city of Mianyang, experts at two analytical organizations say, a development that could aid nuclear weapons design and work exploring power generation. Read our exclusive And Finally... Waves crash on the shore in Boca del Rio, Veracruz state, Mexico. January 21, 2025. REUTERS/Yahir Ceballos Google Maps will change the name of "Gulf of Mexico" to "Gulf of America" once it is officially updated in the US Geographic Names System, Google said in an X post. Read more Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website Reuters Daily Briefing is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. Terms & Conditions and Privacy Statement © 2025 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036