MAGA billionaires balk at Donald Trump’s tariff gambit, warn of ‘economic nuclear winter’
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Global stock markets plummeted following Donald Trump’s tariff announcements, sparking recession fears. Dalal Street mirrored this downturn, with Sensex and Nifty falling sharply, eroding investor wealth significantly. Foreign funds led the sell-off, though domestic investors provided some support. Experts suggest India’s strong domestic economy might offer some insulation from the global turmoil, with potential rate cuts on the horizon.
The US Supreme Court has granted the Trump administration temporary authority to deport Venezuelan migrants accused of gang ties under the Alien Enemies Act of 1798. While allowing fast-track deportations, the court mandated that affected individuals receive a court hearing to contest their removal. The ruling exposed divisions within the court, with dissenting justices raising concerns about bypassing judicial scrutiny.