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"It is as much an opportunity as it is a test. The ball is in America's court," the minister said on X.
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The administration’s new cross-the-board duties have triggered a worldwide selloff, with stock prices suffering another big drop after markets opened Monday as the new reality set in.
Here are the major multinationals hit hardest over the past week.
Big Tech:
• Apple: 16.8% sliced from its market cap (at $300B+ in losses, the absolute biggest loser in dollar terms, with market cap shrinking to $2.7 trln).
• Alibaba: shaved a whopping 19.6% from its valuation, the worst performer in percentage terms (new market cap: $239B).
• TSMC: 12.3% drop, $663B market cap.
• Salesforce: 11% drop, $236B.
• Nvidia: 10.1%, $2.4 trln.
Big Banks:
• HSBC: 15.98% in valuation lost, $173.3B new cap.
• Goldman Sachs: 14.3% drop, $151B cap.
• Bank of America: 13.9%, $272.2B.
• Morgan Stanley: 13.2%, $164.1B.
• JPMorgan Chase: 13%, $602B new valuation.
Big Pharma:
• Thermo Fisher: down 12.5%, $165.6B cap.
• Eli Lilly & Co: 12.1% drop, $652B new cap.
• AstraZeneca: Down 11.1%, $216.6B.
• AbbVie: 9.76% in value wiped out, market cap of $329.4B.
• Novartis: 9.5% drop to $203.9B.
Energy:
• Shell: 15.4% drop, $193.8B cap.
• Chevron: 15.1%, $248.8B.
• Exxon Mobil: 12.5% in value gone, $445B cap.
Defense:
• GE: 15.7%, $179.1B valuation.
• RTX: 12.7% gone, $157.6B cap.
Other Big Losers:
• Disney: 15.3% drop, $150.7B.
• Tesla: 10.7%, $751B cap.
• Toyota: 9.7% lost, $202.8B.
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⛔️ US freezes new contracts and hiring for Cyber Command - reports
The move is part of DOGE's federal spending cuts, i Paper reports, citing sources.
The US Cyber Command helps to conduct offensive cyber operations, especially against Russia, the newspaper noted.
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The move is part of DOGE's federal spending cuts, i Paper reports, citing sources.
The US Cyber Command helps to conduct offensive cyber operations, especially against Russia, the newspaper noted.
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The protests came after Trump met with Netanyahu at the White House and called Gaza a "death trap".
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⚠️ Plane skids off runway in Oregon
A small private jet crashed in Coos Bay, sending 5 people to the hospital.
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A small private jet crashed in Coos Bay, sending 5 people to the hospital.
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NASA could not land humans on Mars in the next 5 years, acting administrator Janet Petro told European media.
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🌋WATCH Mount Kanlaon's stunning eruption, with a 4,000 meter ash plume.
📍 Negros Island, central Philippines
Footage from social media
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Footage from social media
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On board:
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The Crew is scheduled to spend 245 days orbiting the ISS.
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"[Protesters] don’t stand for anything - just hate Trump and the 80 million Americans who voted for him."🤡
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With markets getting hammered, Lei Jun, chairman of smartphone-maker, Xiaomi Corp., lost the most in a single day after Donald Trump doubled down on his new import tariffs.
The billionaire bled $7.8B, or 20% of his fortune as Asian markets nosedived on Monday, according to Bloomberg.
Overall, Asia’s top 20 moguls saw $46B go up in smoke as markets tanked.
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DEI was listed as the SECOND highest strategic priority for the Federal Communications Commission, said FCC Chairman Brendan Carr.
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As turbulence sets in from Trump’s new and much-talked-about economic policy, companies are now resorting to various customs tricks, according to a report by the Financial Times.
Two notable hacks are gaining traction:
However, given that these tactics clash with long-standing tax strategies, global corporations must tread lightly, navigating a fine line between evading tariffs and venturing into risky territory.
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“You cant’s pay us enough to find a plantation,” Rep. Jasmine Crockett said.
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