US leads global stock market plunge
Donald Trump adds to market confusion by calling US Fed rate hike ‘crazy’

Stock markets around the globe have suffered heavy losses, following a dramatic plunge on Wall Street that saw the US Dow Jones Index drop by more than 3.15%, it’s steepest single-day fall since early February.
The BBC reports that the fall on Wall Street was precipitated in part by the US Federal Reserve decision to raise interest rates, “a move that tends to make it more expensive for companies to borrow, hurting bottom lines and turning stocks into a less attractive investment”.
Rising bond yields, fears of a global economic slowdown and escalating trade tensions between the US and a number of its trading partners also contributed to the steep losses, the Wall Street Journal says.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Donald Trump played down the plunge on US markets as a “correction”, while also repeating his ongoing criticism of the US Fed decision to raise interest rates.
“Actually it’s a correction that we’ve been waiting for a long time, but I really disagree with what the Fed is doing. I think the Fed has gone crazy,” Trump said.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Is New York City mayoral candidate Zohran Mamdani’s plan for free buses realistic?
Talking Points A transit innovation or a costly mistake
-
5 side hustle ideas to supplement your budget
the explainer Almost two-thirds of Americans are looking to get a second job in the next year
-
DOJ indicts John Bolton over classified files
Speed Read Continuing the trend of going after his political enemies, Trump prosecutes his former national security adviser
-
Sanae Takaichi: Japan’s Iron Lady set to be the country’s first woman prime minister
In the Spotlight Takaichi is a member of Japan’s conservative, nationalist Liberal Democratic Party
-
Can Gaza momentum help end the war in Ukraine?
Today's Big Question Zelenskyy’s request for long-range Tomahawk missiles hints at ‘warming relations’ between Ukraine and US
-
Remaking the military: Pete Hegseth’s war on diversity and ‘fat generals’
Talking Point The US Secretary of War addressed military members on ‘warrior ethos’
-
How does the Nobel Peace Prize work?
The Explainer Activist María Corina Machado wins prestigious prize, despite public campaign by Donald Trump
-
Israel, Hamas agree to first step of Trump peace plan
Speed Read Israel’s military pulls back in Gaza amid prisoner exchange
-
Israel and Hamas meet on hostages, Trump’s plan
Speed Read Hamas accepted the general terms of Trump’s 20-point plan, including the release of all remaining hostages
-
US tipped to help Kyiv strike Russian energy sites
Speed Read Trump has approved providing Ukraine with intelligence for missile strikes on Russian energy infrastructure
-
Netanyahu agrees to Trump’s new Gaza peace plan
Speed Read At President Trump's meeting with Israeli Prime Minister Benjamin Netanyahu, they agreed upon a plan to end Israel’s war in Gaza