China retaliates against US tariffs

The stock market sell-off accelerates.

Get full access to Reuters.com for just $1/week. Subscribe now. Daily Briefing Daily Briefing By Linda Noakes Trade wars, recession and a $2,300 iPhone? We bring you all the latest as Trump's tariffs confound the world. Meanwhile, South Korea's ousted leader Yoon loses his reckless gamble with martial law. Plus, read our weekly look ahead for markets. Take Five: This is going to hurt. Today's Top News   A pedestrian walks past a stock quotation board in Tokyo. REUTERS/Kim Kyung-Hoon Trade war fears upend markets China announced additional tariffs of 34% on US goods, the most serious escalation in a trade war with President Donald Trump. Follow all the latest on our live page. Global stocks slid for a second day after Trump's plans wiped $2.4 trillion off Wall Street equities, sending investors running for cover in government bonds as recession fears gripped markets. Ridiculed for imposing tariffs on frozen islands largely inhabited by penguins, Trump's formula for calculating those levies has a serious side: it is also hitting some of the world's poorest nations hardest. Economics Editor Mark John breaks down the math on today's Reuters World News podcast. Your next iPhone could soon become much pricier, with increases of 30% to 40% if the company were to pass on the cost to consumers. In Other News   People celebrate in Seoul after President Yoon Suk Yeol's impeachment was accepted. REUTERS/Kim Hong-ji  South Korean President Yoon Suk Yeol was ousted by the Constitutional Court, ushering in an election after it upheld parliament's impeachment over Yoon's imposition of martial law that sparked the nation's worst political crisis in decades.  Israeli troops moved into an area of northern Gaza to expand what they call a security zone around the edge of the enclave, days after the government announced plans to seize large areas with an operation in the south.  European foreign ministers at a NATO meeting blamed Russia for thwarting a US push for peace in the Ukraine war, in a clear bid to persuade the Trump administration to take a harder line towards Moscow. At least six White House National Security Council officials have been fired or reassigned, according to several people familiar with the matter, in what appears to be the first significant purge of Trump's second presidency. The US government plans to freeze grants to Brown University and separately set conditions that Harvard University must meet - including a mask ban and removal of diversity, equity and inclusion programs - to receive federal money. The Week Ahead Investors will parse through the first new quarterly earnings, along with Chinese inflation data, while they wait for the rest of the world to respond to Trump's tariffs.  Earnings reports to watch include JPMorgan, Wells Fargo, Morgan Stanley, Delta Air Lines and Corona beer maker Constellation Brands. Here is a look at the week ahead in markets. Bidders for the short video social media company TikTok are piling up, as the weekend deadline for it to find a buyer approaches.  Amazon.com said it plans to launch the first 27 satellites for its Project Kuiper internet network next week, pinning down a long-awaited start to the company's plan to deploy a massive constellation that will rival Elon Musk's Starlink system. Delivery boom draws Russians to courier jobs    Elena Kashayedova and her partner Viktor Drovovoz pose for a picture. REUTERS/Alexey Malgavko  Elena and Viktor's apartment is packed with large, colorful rucksacks and the two bicycles they call their "iron horses". They have quit their regular jobs, seeking better pay and more flexible hours to work full time as delivery couriers. But they must battle cold, snowy winters in the Siberian city of Omsk and face the daily task of hauling their bikes up and down five flights of stairs in their apartment block. Read more Pictures of the Week A damaged Buddhist statue inside a pagoda following the earthquake in Myanmar. REUTERS/Stringer A selection of some of our top photography from around the world this week. View the gallery 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