Connect with us

Published

on

A rumour on social media fuelled a brief upturn for struggling US stock markets – but they swiftly swung back down again after the claim was debunked by the White House.

Markets around the world have struggled since some of Donald Trump’s new import tariffs came into effect over the weekend.

Tariffs latest: Starmer sets out response to US levies

The US markets opened on Monday with a fall for the third day in a row but briefly rallied and showed growth of over 2% at 3.15pm UK time.

The upturn came after a social media rumour claimed a top Trump administration adviser had suggested the president could be considering a 90-day pause on tariffs.

The origin of the false report was unclear but it appeared to be a misinterpretation of a comment made by a White House employee during a Fox News interview.

Asked if the US president would consider a pause, Kevin Hassett, White House National Economic Council director, said: “I think the president is going to decide what the president is going to decide.

More on Donald Trump

“There are more than 50 countries in negotiation with the president.”

Nearly two hours later, multiple X accounts posted identical messages claiming Mr Hassett said a pause – for all countries except China – was being considered.

The identical posts were picked up by some news outlets and stock traders, sending the markets skyrocketing.

However, when the White House said any talk of a pause was “fake news”, they were sent back into the red.

This brief upturn was market volatility writ large

It was the stock market as a spectator sport.

The moment, mid-morning, when a Trump aide had given a TV interview and subsequent headlines screamed that Trump was considering a 90-day pause on tariffs.

Suddenly, the markets went from red to green.

Make that green to red, just minutes later, when the White House dismissed the story as fake news, insisting there would be no pause.

Investors duly reverted back to panic mode.

It was market volatility writ large.

The stance inside the White House can be best characterised as ‘panic, what panic?’.

Donald Trump on Monday joked his way through a photo call with the Los Angeles Dodgers, winners of baseball’s World Series, ahead of his meeting with Israeli Prime Minister Benjamin Netanyahu.

For those two men, there is much on the agenda, of course – not least the collapse of the ceasefire in Gaza.

On that, this will be an important stage in a grinding diplomacy that has ground to a halt around a ceasefire.

On tariffs, with Netanyahu, there will be a first look at how negotiations work with the punitive president.

Israel faces a 17% tariff from its largest trade partner and ally.

How to strategise a route towards the sweet spot?

With Trump’s first visitor since the tariff announcement comes a first test of how negotiations work and what they produce.

The world will be watching agog – as all the world has a stake.

Mr Trump has remained defiant despite fears that his levies could be pushing the US towards a recession.

👉 Follow Trump 100 on your podcast app 👈

The US president has insisted the taxes are necessary for rebuilding domestic manufacturing and resetting trade relationships with other countries.

“Be Strong, Courageous, and Patient, and GREATNESS will be the result!” he wrote on Truth Social on Monday.

More from Sky News:
Trump and Netanyahu cancel news conference
Asian stock markets tumble after tariffs

Please use Chrome browser for a more accessible video player

What’s going on with the stock markets?

Mr Trump – who played golf in Florida over the weekend – has also threatened an extra tariff on China, after Beijing announced a retaliatory levy on the US.

He said if Beijing does not withdraw its retaliatory tax, the US will impose an additional 50% levy on China and “negotiations with other countries, which have also requested meetings, will begin taking place immediately”.

Continue Reading

US

US defence secretary Pete Hegseth’s jet makes unscheduled landing in UK after in-air issue

Published

on

By

US defence secretary Pete Hegseth's jet makes unscheduled landing in UK after in-air issue

An aircraft carrying US defence secretary Pete Hegseth has had to make an “unscheduled landing” in the UK.

The jet was about 30 minutes into its journey back to the US after a NATO defence ministers’ meeting in Brussels, when it suffered a “depressurisation issue”.

Sean Parnell, chief Pentagon spokesman, confirmed the aircraft had been diverted to the UK due to a crack in the aircraft windscreen.

He posted on X: “On the way back to the United States from NATO’s Defence Ministers meeting, Secretary of War Hegseth’s plane made an unscheduled landing in the United Kingdom due to a crack in the aircraft windshield.

“The plane landed based on standard procedures, and everyone onboard, including Secretary Hegseth, is safe.”

Mr Hegseth also posted: “All good. Thank God. Continue mission!”

Open source flight trackers spotted the aircraft lose altitude and begin broadcasting an emergency signal.

Read more from Sky News:
Who is Pete Hegseth?
Trump rebrands Pentagon the Department of War

The aviation news website Airlive reported the Boeing C-32A – a military version of the Boeing 757 – had a “depressurisation issue”.

It went on to land at RAF Mildenhall in Suffolk at about 7.10pm.

Mr Hegseth had been at a meeting of NATO defence ministers which was also attended by UK Defence Secretary John Healey.

In February, a US Air Force plane carrying secretary of state Marco Rubio and the Senate foreign relations committee chairman, Senator Jim Risch, was similarly forced to return to Washington DC after an issue with the cockpit windscreen.

Continue Reading

US

Charlie Kirk posthumously awarded Presidential Medal of Freedom by Donald Trump

Published

on

By

Charlie Kirk posthumously awarded Presidential Medal of Freedom by Donald Trump

Charlie Kirk has been posthumously awarded the Presidential Medal of Freedom by Donald Trump.

The USA’s highest civilian honour was received by the conservative activist’s widow, Erika, at the White House.

Mr Kirk, 31, was fatally shot on 10 September while speaking at an event at Utah Valley University.

He founded Turning Point USA and toured American university campuses, debating students about current affairs.

Erika Kirk at the White House. Pic: Reuters
Image:
Erika Kirk at the White House. Pic: Reuters

Erika Kirk and Donald Trump. Pic: Reuters
Image:
Erika Kirk and Donald Trump. Pic: Reuters

Addressing those attending the ceremony in the White House rose garden, the US president said they were there to “honour and remember a fearless warrior for liberty” and a “beloved leader who galvanised the next generation”.

He said Mr Kirk’s name was being entered “forever into the eternal roster of true American heroes”.

Mr Trump described Charlie Kirk as an “American patriot of the deepest conviction, the finest quality and the highest calibre”.

He said his nation had been “robbed” of an “extraordinary champion”.

Please use Chrome browser for a more accessible video player

Has Charlie Kirk become a MAGA ‘martyr’?

And Mr Trump said Mr Kirk was assassinated in the “prime of his life for boldly speaking the truth, for living his faith, and relentlessly fighting for a better and stronger America”.

The ceremony coincided with what would have been Mr Kirk’s 32nd birthday.

Mr Trump described Erika Kirk, now head of Turning Point USA, as someone who had “endured unspeakable hardship with unbelievable strength”.

Read more:
What do we know about Erika Kirk?
Charlie Kirk’s movement is growing in wake of his assassination

Charlie Kirk. File pic: AP
Image:
Charlie Kirk. File pic: AP

A 22-year-old man, Tyler Robinson, from the city of Washington in Utah has been charged with Mr Kirk’s murder. Prosecutors said they would seek the death penalty.

At a memorial event held at a stadium in Arizona, Erika Kirk told an enormous crowd she forgave her husband’s killer.

“The answer to hate is not hate,” she said.

Continue Reading

US

Grammy-winning R&B and soul star D’Angelo dies after ‘prolonged battle with cancer’

Published

on

By

Grammy-winning R&B and soul star D'Angelo dies after 'prolonged battle with cancer'

Grammy-award winning R&B and soul singer D’Angelo has died following a battle with pancreatic cancer, his family has said.

He died on Tuesday, leaving behind a “legacy of extraordinarily moving music” following a “prolonged and courageous battle with cancer,” his family said in a statement.

The prominent musician, born Michael D’Angelo Archer, was 51 years old.

A family statement said: “We are saddened that he can only leave dear memories with his family, but we are eternally grateful for the legacy of extraordinarily moving music he leaves behind.

“We ask that you respect our privacy during this difficult time, but invite you all join us in mourning his passing while also celebrating the gift of song that he has left for the world.”

The singer rose to prominence in the 1990s with his first album, Brown Sugar.

The track “Lady” from that album reached No. 10 in March 1996 and remained on Billboard’s Hot 100 chart for 20 weeks.

Continue Reading

Trending