The US budget deficit reached a record $1.147 trillion for the first five months of fiscal 2025, fueled by increased spending and factors such as tariffs.
The European Union retaliates against U.S. tariffs with new duties on American products, deepening trade tensions amid strained transatlantic relations.
US stock markets face a tumultuous sell-off, driven by fears surrounding President Trump's tariffs and growing recession concerns, impacting major indices and technology stocks.