Stocks Plunge as Trump Trade War Heats Up
U S stocks suffered their worst daily loss of the year as a global selloff spread. China let the yuan slide to a decade low and halted farm product purchases in apparent retaliation to Trump threats of new tariffs on about 300 billion dollars of Chinese goods. The Dow fell 767 points, the S P 500 shed 3 percent, and the Nasdaq declined 3 5 percent as investors weighed a slowing world economy and weakening corporate profits.
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New York
U.S
Donald Trump
China
Trump
Rich Weiss
American Century Investments
China devalues yuan as tariff fight escalates
Beijing allows the yuan to fall to seven per dollar for the first time since 2008 and halts U.S. farm purchases. After markets closed, the U.S. Treasury labeled China a currency manipulator for the first time since 1994, signaling a sharpened trade standoff.
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China
Donald Trump
U.S
Beijing
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America
Canary Islands study to host alternative site for TMT telescope
Spain's Canary Islands Astrophysics Institute says its researchers have received a letter from the Thirty Meter Telescope project board to seek a building permit for La Palma as a backup site. The plan to place a 1.4 billion dollar telescope construction on Mauna Kea remains, despite Native Hawaiian protests. The Hawaii Supreme Court previously allowed the initial permit, while Hawaii DLNR granted a two year extension for start of construction.
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Associated Press
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Sheffield baker creates artful cakes at Classic Cakes by Yvonne
Yvonne Chisholm opened Classic Cakes by Yvonne in Sheffield on July 15 after eight years of home baking. She crafts detailed cake sculptures from flour, eggs, and frosting and offers about a dozen flavors for walk-in customers, with her cassata cake jars as signature items.
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Sheffield
Yvonne Chisholm
Yvonne
Warn
Kristin Bauer
Chronicle
South Korea calls for economic unity to counter Japan
South Korea's president urged a national revival of the economy and cooperation with North Korea in response to Japan's trade curbs. He framed it as a wake-up call to erase Japan's economic advantage and warned of regional security tensions worsened by North Korea's weapons tests.
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Japan
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