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🇺🇸 Over $1.5 trillion wiped out from the US stock market today.
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🇺🇸 U.S. to impose tariffs from August 1 — Trump gives the world 3 weeks to strike deals Donald Trump confirmed that tariff notices will begin going out today, and the new duties will take effect on August 1. This gives countries three more weeks to avoid up to 70% in export tariffs to the U.S. 🤔 What’s happening ⚫ The original deadline was July 9, but it's now been pushed to August 1 ⚫ The EU is holding emergency talks — “progress has been made,” but no deal yet ⚫ Germany, France, and Italy are coordinating their stance via top-level calls ⚫ Trump announced 10% tariffs for countries “following anti-American BRICS policies” ⚫ The U.S. has already secured agreements with the UK, China, and Vietnam — others await formal notices 📈 Financial impact 📌 After the delay announcement, the S&P 500 surged — the trade war pause lifted markets 📌 But amid renewed threats: — S&P 500 futures fell 0.5% — Asian stock index dropped 0.7% — AUD and NZD declined by 1% — USD rose 0.5%
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🇨🇳 Foxconn recalls hundreds of Chinese engineers from India — a potential setback for Apple’s plans Foxconn has unexpectedly withdrawn key Chinese specialists from its iPhone assembly plants in India — right as Apple ramps up production of the iPhone 17 in South Asia. 🤔 What happened ⚫ Over 300 Chinese engineers and technicians have left India under Foxconn’s orders ⚫ The move may be tied to informal pressure from Beijing to limit technology and equipment exports to India ⚫ This complicates the transfer of know-how and the training of local staff ⚫ Apple CEO Tim Cook had previously emphasized that Chinese worker expertise was key to iPhone production efficiency 🤔 Implications for Apple 📌 India’s production localization may slow down, and costs could rise 📌 Plans to launch the iPhone 17 and a new Foxconn plant in South India may be disrupted 📌 Apple aims to shift up to 50% of iPhone production for the U.S. to India by 2026 — but this could derail that goal 📌 Amid trade wars and Trump-era tariffs, iPhone manufacturing in the U.S. remains unrealistic due to high costs 🗣 “India now makes one-fifth of the world’s iPhones. But without Chinese engineers, this growth could stall,” Bloomberg sources say #NFPWatch #BTCReclaims110K
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⚡️ Ripple has applied for a national US banking license
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Twenty One Capital CEO Jack Mallers says their strategy is to buy as much BTC as they can once they’re listed on the stock exchange.
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Before Ethereum (ETH) Pumps Again This Summer, Smart Investors Are Loading Up on This DeFi Gem🔹 As the crypto market heats up for the summer, investors are eyeing innovative projects like Mutuum Finance (MUTM), a decentralized, non-custodial liquidity protocol. With a total token supply of 4 billion, over \$10.55 million raised in its Phase 5 presale, a current price of \$0.03, and more than 12,000 holders, Mutuum Finance is emerging as a strong contender in the DeFi sector.
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