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On the edge of Europe is a pocket of pro-Russian support which has been under close watch since the outbreak of war in Ukraine.

Transnistria is a breakaway region in eastern Moldova which is politically, economically and militarily supported by Moscow.

Neither Moldova nor the wider international community recognise its independence.

In Transnistria’s capital, Tiraspol, hammer and sickle banners flutter in the wind as public opinion favours the east.

Andrey
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Andrey

“Transnistria and Russia are one structure and they have to be united,” says resident, Andrey, when asked if the Russian military should leave Transnistria.

'While they're here we are safe'
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This woman says she feels safe with Russian troops around

“The Russian troops here are our guarantee of safety. While they are here, we are safe,” a young woman adds.

Here, it’s neighbouring country, Ukraine, that’s been eyed with suspicion.

Last week, security services in the region said they’d thwarted a Ukrainian plot to murder officials including the separatist leader.

Kyiv has denied the allegations as Russian provocation.

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But the pro-Kremlin sentiment has left many people living a few miles away in pro-western Moldova feeling uneasy.

In the village of Calfa, allegiances are very different.

“I’m so close I can hear Transnistrian TV and radio. Every day they’re talking about war, about the invasion of Ukraine. We don’t believe them because they broadcast fake news,” says Ludmila Ceaglac, the local mayor.

Ludmila Ceaglac, the local mayor
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Local mayor Ludmila Ceaglac

Since Russia invaded Ukraine, they’ve started feeling nervous of their neighbours.

“I understand they have a big base with weapons from the Second World War and this is our biggest fear. We don’t know if the weapons are active. We hope they won’t come here with their weapons because Moldova has a small army,” she explains.

Moldova

While few analysts forecast a full-scale Russian invasion of Moldova via Transnistria, Moscow has been accused of launching a hybrid war including stirring up unrest at anti-government protests and spreading propaganda.

Last month, Moldova’s President Sandu said they had uncovered plans to use foreign saboteurs to stage a coup.

Russia’s foreign ministry rejected the allegations as “completely unfounded and unsubstantiated”.

On Sunday, Moldovan police arrested seven people accused of instigating unrest during anti-government protests.

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Police foil pro-Russia plot in Moldova

On a visit to the capital, the UK’s Foreign Secretary James Cleverly arrived with a message of support and £10m to help fight Russian interference.

“You are not alone,” he said in a meeting with his counterpart in the capital Chisinau.

“In his arrogance, Vladimir Putin has attempted to punish Moldova for doing those right things, and its incumbent on the UK to support Moldova on its journey in the right direction,” Mr Cleverly added.

Ministers aren’t preparing for Russian tanks to roll into Moldova but they say they are already fighting a war; a battle against Kremlin-backed disinformation and disruption aimed at spreading fear and unrest.

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Stock markets slump for second day running after Trump announces tariffs – in worst day for indexes since COVID

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Stock markets slump for second day running after Trump announces tariffs - in worst day for indexes since COVID

Worldwide stock markets have plummeted for the second day running as the fallout from Donald Trump’s global tariffs continues.

While European and Asian markets suffered notable falls, American indexes were the worst hit, with Wall Street closing to a sea of red on Friday following Thursday’s rout – the worst day in US markets since the COVID-19 pandemic.

As it happened: Worst week’s trading in five years

All three of the US’s major indexes were down by more than 5% at market close; The Dow Jones Industrial Average plummeted 5.5%, the S&P 500 was 5.97% lower, and the Nasdaq Composite slipped 5.82%.

The Nasdaq was also 22% below its record-high set in December, which indicates a bear market.

Read more: What’s a bear market?

Ever since the US president announced the tariffs on Wednesday evening, analysts estimate that around $4.9trn (£3.8trn) has been wiped off the value of the global stock market.

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Mr Trump has remained unapologetic as the markets struggle, posting in all-caps on Truth Social before the markets closed that “only the weak will fail”.

The UK’s leading stock market, the FTSE 100, also suffered its worst daily drop in more than five years, closing 4.95% down, a level not seen since March 2020.

And the Japanese exchange Nikkei 225 dropped by 2.75% at end of trading, down 20% from its recent peak in July last year.

Pic: Reuters
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US indexes had the worst day of trading since the COVID-19 pandemic. Pic: Reuters

Trump holds trade deal talks – reports

It comes as a source told CNN that Mr Trump has been in discussions with Vietnamese, Indian and Israeli representatives to negotiate bespoke trade deals that could alleviate proposed tariffs on those countries before a deadline next week.

The source told the US broadcaster the talks were being held in advance of the reciprocal levies going into effect next week.

Vietnam faced one of the highest reciprocal tariffs announced by the US president this week, with 46% rates on imports. Israeli imports face a 17% rate, and Indian goods will be subject to 26% tariffs.

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Do Trump’s tariffs add up?

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Markets gave Trump a clear no-confidence vote
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China – hit with 34% tariffs on imported goods – has also announced it will issue its own levy of the same rate on US imports.

Mr Trump said China “played it wrong” and “panicked – the one thing they cannot afford to do” in another all-caps Truth Social post earlier on Friday.

Later, on Air Force One, the US president told reporters that “the beauty” of the tariffs is that they allow for negotiations, referencing talks with Chinese company ByteDance on the sale of social media app TikTok.

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Tariffs: Xi hits back at Trump

He said: “We have a situation with TikTok where China will probably say, ‘We’ll approve a deal, but will you do something on the tariffs?’

“The tariffs give us great power to negotiate. They always have.”

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Financial markets were always going to respond to Trump tariffs but they’re also battling with another problem

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Financial markets were always going to respond to Trump tariffs but they're also battling with another problem

Global financial markets gave a clear vote of no-confidence in President Trump’s economic policy.

The damage it will do is obvious: costs for companies will rise, hitting their earnings.

The consequences will ripple throughout the global economy, with economists now raising their expectations for a recession, not only in the US, but across the world.

Tariffs latest: FTSE 100 suffers biggest daily drop since COVID

Financial investors had been gradually re-calibrating their expectations of Donald Trump over the past few months.

Hopes that his actions may not match his rhetoric were dashed on Wednesday as he imposed sweeping tariffs on the US’ trading partners, ratcheting up protectionism to a level not seen in more than a century.

Markets were always going to respond to that but they are also battling with another problem: the lack of certainty when it comes to Trump.

More on Donald Trump

He is a capricious figure and we can only guess his next move. Will he row back? How far is he willing to negotiate and offer concessions?

Read more:
There were no winners from Trump’s tariff gameshow
Trade war sparks ‘$2.2trn’ global market sell-off

These are massive unknowns, which are piled on to uncertainty about how countries will respond.

China has already retaliated and Europe has indicated it will go further.

That will compound the problems for the global economy and undoubtedly send shivers through the markets.

Much is yet to be determined, but if there’s one thing markets hate, it’s uncertainty.

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Court confirms sacking of South Korean president who declared martial law

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Court confirms sacking of South Korean president who declared martial law

South Korea’s constitutional court has confirmed the dismissal of President Yoon Suk Yeol, who was impeached in December after declaring martial law.

His decision to send troops onto the streets led to the country’s worst political crisis in decades.

The court ruled to uphold the impeachment saying the conservative leader “violated his duty as commander-in-chief by mobilising troops” when he declared martial law.

The president was also said to have taken actions “beyond the powers provided in the constitution”.

Demonstrators who stayed overnight near the constitutional court wait for the start of a rally calling for the president to step down. Pic: AP
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Demonstrators stayed overnight near the constitutional court. Pic: AP

Supporters and opponents of the president gathered in their thousands in central Seoul as they awaited the ruling.

The 64-year-old shocked MPs, the public and international allies in early December when he declared martial law, meaning all existing laws regarding civilians were suspended in place of military law.

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Highs and lows of Five-Year Keir
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More on South Korea

The Constitutional Court is under heavy police security guard ahead of the announcement of the impeachment trial. Pic: AP
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The court was under heavy police security guard ahead of the announcement. Pic: AP

After suddenly declaring martial law, Mr Yoon sent hundreds of soldiers and police officers to the National Assembly.

He has argued that he sought to maintain order, but some senior military and police officers sent there have told hearings and investigators that Mr Yoon ordered them to drag out politicians to prevent an assembly vote on his decree.

His presidential powers were suspended when the opposition-dominated assembly voted to impeach him on 14 December, accusing him of rebellion.

The unanimous verdict to uphold parliament’s impeachment and remove Mr Yoon from office required the support of at least six of the court’s eight justices.

South Korea must hold a national election within two months to find a new leader.

Lee Jae-myung, leader of the main liberal opposition Democratic Party, is the early favourite to become the country’s next president, according to surveys.

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