Social media platform X was awash with ‘Orange Monday’ memes after a major global equity selloff, sparked by President Donald Trump’s retaliatory tariffs on key U.S. trade partners. The market chaos drew comparisons to the 1987 ‘Black Monday’ crash. Undeterred, the White House maintained its tariff stance. By Sunday evening, U.S. stock futures plunged, with Dow Jones futures dropping over 1,700 points, per The Wall Street Journal. Asian markets followed suit on Monday—Japan’s Nikkei tumbled nearly 9%, Hong Kong’s Hang Seng fell 8%, and China’s CSI300 dropped 4.5%. Markets in Australia, Singapore, and South Korea also saw steep losses.
UK PM STARMER DECLARES END OF GLOBALISATION ERA AMID TRUMP-LED TRADE SHIFT
UK Prime Minister Keir Starmer is expected to soon announce what may be seen as a formal declaration of the end of globalisation, amid growing global tension following U.S. President Donald Trump’s sweeping tariff decision. On April 2, Trump imposed a baseline 10% tariff on all U.S. imports, placing major world economies in an uncertain position. Starmer is set to address the situation on Monday, pledging to “move further and faster” in response. Writing in The Sunday Telegraph, he called this a “new world” shaped by “deals and alliances,” not rules—an “economic revolution” the UK, he insists, is poised to win.
CHINA’S UNDERWATER ‘KILL SWITCH’ SPARKS FEARS OF INTERNET VULNERABILITY
China has made a significant leap in deep-sea engineering by introducing a powerful device designed to cut through the world’s most heavily reinforced undersea cables at record depths. Developed by the China Ship Scientific Research Centre (CSSRC) in collaboration with the State Key Laboratory of Deep-Sea Manned Vehicles, the tool is engineered to integrate smoothly with China’s cutting-edge submersibles, such as the Fendouzhe (Striver) and the Haidou series. This advancement underscores China’s growing capabilities in underwater technology and could have far-reaching implications for global undersea infrastructure.
IRAN-BACKED MILITIAS SIGNAL READINESS TO DISARM AMID US PRESSURE
Several powerful Iranian-backed militia groups in Iraq are reportedly ready to disarm for the first time in an effort to prevent escalating tensions with the Trump administration, according to ten senior commanders and Iraqi officials who spoke to Reuters. The development follows private warnings from U.S. officials to the Iraqi government since Trump assumed office in January, urging action to dismantle militias or face potential U.S. airstrikes. Izzat al-Shahbndar, a senior Shi’ite politician aligned with Iraq’s ruling coalition, said talks between Prime Minister Mohammed Shia al-Sudani and militia leaders are “very advanced,” with the groups showing willingness to comply.
JAISHANKAR: IN A SHIFTING WORLD ORDER, REGIONS MUST PRIORITIZE SELF-INTEREST
In response to U.S. President Donald Trump’s announcement of reciprocal tariffs, India’s External Affairs Minister S. Jaishankar stated on Thursday that the world is entering an era defined by self-reliance. Speaking at the 20th BIMSTEC Ministerial, he emphasized the growing importance of regional cooperation and shorter supply chains. “The reality is that the world is shifting toward self-help,” Jaishankar said, noting that regions must prioritize their own needs—whether in food, fuel, fertilizers, vaccines, or disaster response. He added, “We are witnessing this change in real-time. The significance of immediate neighbors and localized supply chains has never been greater.”
