Trump says it is difficult to achieve an immediate ceasefire between Russia and Ukraine in a short period of time, suggesting that both Russia and Ukraine may be sanctioned simultaneously.

The number of initial jobless claims in the U.S. surged to an eight-month high; the U.S. trade deficit decreased by 55.5% to $61.6 billion due to a sharp drop in imports caused by Trump's tariffs.

Sources say that U.S. and Indian negotiators may eventually finalize tariff reductions and market access issues, reaching a temporary agreement.

The European Central Bank has lowered its three key interest rates by 25 basis points. Lagarde hinted that the rate-cutting cycle may end, and the market is no longer fully pricing in another 25 basis point rate cut within the year.