Asian markets track Wall St selloff as Trump-fuelled economy fears build

Asian markets tumbled Tuesday following a sharp sell-off on Wall Street fuelled by fears about the US economy as Donald Trump presses ahead with his global trade war and federal jobs cuts.Traders had initially welcomed his election on optimism that his promised tax cuts and deregulation would boost the world’s top economy and help equities push to more record highs.But there is now a growing pessimism that a recession could be on the cards amid warnings that tariffs imposed on key trade partners will reignite inflation and force the Federal Reserve to hike interest rates again.The president’s weekend comments that the economy was facing “a period of transition” and his refusal to rule out a downturn did little to soothe investor worries.A new wave of tariffs due this week will see steep levies of 25 percent on steel and aluminum imports.Uncertainty over Trump’s tariffs and threats have left US financial markets in turmoil and consumers unsure of what the year might bring.Fears about the future battered Wall Street, where the Nasdaq tanked four percent owing to another plunge in high-flying tech titans including Apple, Amazon and Tesla.And Asia followed suit, with losses across the board. Tokyo was among the main losers after Japanese Trade Minister Yoji Muto said he had failed to win an immediate exemption from US tariffs.Hong Kong and Shanghai extended Monday’s selling that was stoked by a big miss on Chinese consumer prices that added to worries about the Chinese economy.Sydney, Singapore, Seoul, Taipei, Wellington and Manila were also deep in negative territory.”Economic uncertainty and recession fears have intensified, partly driven by President Trump’s weekend comments about the economy being in “a period of transition” and his reluctance to rule out a recession,” said Shaun Murison, senior market analyst at IG online trading platform. “This uncertainty has heightened investor anxiety. Trump’s trade policies, including ongoing tariff discussions are creating uncertainty and fears of economic slowdown. “These tariffs could potentially elevate prices and complicate efforts to reduce interest rates.”The plunge in sentiment across markets in the past few weeks has filtered through to other risk markets, with bitcoin falling below $80,000 on Monday to its lowest level since November — having hit a record close to $110,000 in January.The cryptocurrency’s losses have also been driven by disappointment that Trump signed an executive order to establish a “Strategic Bitcoin Reserve” without planning any public purchases of it.Oil extended Monday’s drop of more than one percent amid worries about demand as US recession speculation builds.- Key figures around 0230 GMT -Tokyo – Nikkei 225: DOWN 1.7 percent at 36,382.57 (break)Hong Kong – Hang Seng Index: DOWN 1.1 percent at 23,512.73Shanghai – Composite: DOWN 0.4 percent at 3,354.29Euro/dollar: UP at $1.0855 from $1.0836 on MondayPound/dollar: UP at $1.2888 from $1.2878Dollar/yen: DOWN at 146.90 yen from 147.26 yenEuro/pound: UP at 84.23 pence from 84.13 penceWest Texas Intermediate: DOWN 0.5 percent at $65.70 per barrelBrent North Sea Crude: DOWN 0.4 percent at $69.03 per barrelNew York – Dow: DOWN 2.1 percent at 41,911.71 points (close)London – FTSE 100: DOWN 0.9 percent at 8,600.22 (close)

Indian artisans keep traditional toymaking alive

The whirr of machines and smell of carved wood hangs in the air of the Indian toy workshop, a centuries-old art form still in the game despite cheaper plastic alternatives.India’s town of Channapatna is famed for its wood and lacquer toys, carved from ivory wood from a local deciduous tree — and dipped in brightly coloured dye from natural ingredients including turmeric and indigo.”I felt interest in learning toymaking after I saw people in my neighbourhood doing it,” said toy maker Rupa, who uses only one name. “I felt that I could also learn the craft.”Rocking horses, baby walkers and dancing dolls cut from wood are a common sight in workshops, which employ around 2,500 artisans in the town in the southern state of Karnataka.Channapatna’s toymaking industry dates back to the 1700s when Tipu Sultan, ruler of the then kingdom of Mysore, asked artists from Persia to train the locals.Rising competition from mass-produced toys, including cheap replicas made in China, has cast a shadow on the growth of the industry in the town — but it has endured.The town’s products saw a surge of interest in 2010 when former US first lady Michelle Obama bought several in the capital, New Delhi, during an official visit to India.Toys were once all hand-carved, but the use of electric lathes and other machinery has helped keep the industry economical.”In the old days, every work demanded artisans,” said B. Venkatesh, who runs two small workshops in the town. “But now, with a few at hand, machines can help with different tasks.”- ‘Sense of joy’ -Business is not bad for the 53-year-old, with his factory getting orders for around thousands of from suppliers all around the country during peak months.He says people value the long-lasting quality of the toys.”When we dry the ivory wood properly, and apply lacquer and vegetable dyes, the toys will remain the same for hundreds of years,” Venkatesh said.But he warned his trade would “perish in the long run” without more support.Earlier this month, the government pledged a scheme aimed at making India a global hub for innovative and unique toys that showcased local culture. Venkatesh said authorities needed to go further by opening workshops to help cultivate a new generation of artisans.For those already in the business, their craft is more than a simple matter of livelihood. “Making toys gives me a sense of joy and happiness,” Rupa said. 

Arrest of pro-Palestinian activist sparks outrage, Trump says ‘first of many’

Protesters in New York and rights groups expressed outrage Monday over the arrest of a leader of pro-Palestinian demonstrations at Columbia University, as President Donald Trump vowed further crackdowns.Mahmoud Khalil, a recent graduate and one of the most prominent faces of the university’s high-profile protests, was arrested by US immigration officials over the weekend despite holding a permanent residency green card.The Department of Homeland Security, confirming Khalil’s arrest on Sunday, claimed he had “led activities aligned to Hamas” and that the DHS action was taken “in coordination with the Department of State.””We know there are more students at Columbia and other Universities across the Country who have engaged in pro-terrorist, anti-Semitic, anti-American activity, and the Trump Administration will not tolerate it,” the president wrote Monday on his Truth Social platform.”This is the first arrest of many to come,” he pledged.The protests at Columbia, launched last year in opposition to Israel’s devastating war in Gaza, brought widespread media attention as tensions mounted on campus and spread to other universities around the country.Some protests turned violent and saw campus buildings occupied, while students protesting Israel’s conduct were frequently pitted against pro-Israel campaigners, many of whom were Jewish.Trump and other Republicans have broadly accused the protesters of supporting Hamas, the Palestinian militant group and US-designated terrorist group whose deadly attack on October 7, 2023 against Israel sparked the war.While the Trump administration moves to quickly deport Khalil, who has reportedly been moved to the southern state of Louisiana, a federal judge on Monday ordered authorities to halt proceedings.The order, seen by AFP, by Judge Jesse Furman of the Southern District of New York also called for a preliminary hearing on Wednesday.- ‘A kidnapping’ -The American Civil Liberties Union (ACLU) condemned Khalil’s arrest, calling it “unprecedented, illegal, and un-American.””The government’s actions are obviously intended to intimidate and chill speech on one side of a public debate,” said Ben Wizner, director of the ACLU’s Speech, Privacy and Technology Project, in a statement.On Monday afternoon, over 1,000 protesters gathered in New York to express their outrage at Khalil’s arrest.”This was essentially a kidnapping,” said 42-year-old Tobi, who declined to give her last name for fear of retaliation.”It seems like a clear targeting of activists, which is a really, really dangerous precedent,” she said.According to his supporters, Khalil was arrested late Saturday night while returning with his pregnant wife to their residence in Columbia student housing.”This is a dismal moment in American history. We must not go down this authoritarian path one step further,” said Michael Thaddeu, one of around 50 professors who expressed their concern Monday at a press conference.The Trump administration has particularly targeted Columbia over its handling of the protests, threatening to revoke billions in federal funding if more action is not taken.On Friday, four government agencies announced initial cuts of $400 million.The arrest also prompted an outcry from the United Nations, with the spokesman for Secretary-General Antonio Guterres saying Monday “it is crucial to underscore the importance of respecting the right of freedom of expression and the right to peaceful assembly everywhere.”

Arrest of pro-Palestinian activist sparks outrage, Trump says ‘first of many’

Protesters in New York and rights groups expressed outrage Monday over the arrest of a leader of pro-Palestinian demonstrations at Columbia University, as President Donald Trump vowed further crackdowns.Mahmoud Khalil, a recent graduate and one of the most prominent faces of the university’s high-profile protests, was arrested by US immigration officials over the weekend despite holding a permanent residency green card.The Department of Homeland Security, confirming Khalil’s arrest on Sunday, claimed he had “led activities aligned to Hamas” and that the DHS action was taken “in coordination with the Department of State.””We know there are more students at Columbia and other Universities across the Country who have engaged in pro-terrorist, anti-Semitic, anti-American activity, and the Trump Administration will not tolerate it,” the president wrote Monday on his Truth Social platform.”This is the first arrest of many to come,” he pledged.The protests at Columbia, launched last year in opposition to Israel’s devastating war in Gaza, brought widespread media attention as tensions mounted on campus and spread to other universities around the country.Some protests turned violent and saw campus buildings occupied, while students protesting Israel’s conduct were frequently pitted against pro-Israel campaigners, many of whom were Jewish.Trump and other Republicans have broadly accused the protesters of supporting Hamas, the Palestinian militant group and US-designated terrorist group whose deadly attack on October 7, 2023 against Israel sparked the war.While the Trump administration moves to quickly deport Khalil, who has reportedly been moved to the southern state of Louisiana, a federal judge on Monday ordered authorities to halt proceedings.The order, seen by AFP, by Judge Jesse Furman of the Southern District of New York also called for a preliminary hearing on Wednesday.- ‘A kidnapping’ -The American Civil Liberties Union (ACLU) condemned Khalil’s arrest, calling it “unprecedented, illegal, and un-American.””The government’s actions are obviously intended to intimidate and chill speech on one side of a public debate,” said Ben Wizner, director of the ACLU’s Speech, Privacy and Technology Project, in a statement.On Monday afternoon, over 1,000 protesters gathered in New York to express their outrage at Khalil’s arrest.”This was essentially a kidnapping,” said 42-year-old Tobi, who declined to give her last name for fear of retaliation.”It seems like a clear targeting of activists, which is a really, really dangerous precedent,” she said.According to his supporters, Khalil was arrested late Saturday night while returning with his pregnant wife to their residence in Columbia student housing.”This is a dismal moment in American history. We must not go down this authoritarian path one step further,” said Michael Thaddeu, one of around 50 professors who expressed their concern Monday at a press conference.The Trump administration has particularly targeted Columbia over its handling of the protests, threatening to revoke billions in federal funding if more action is not taken.On Friday, four government agencies announced initial cuts of $400 million.The arrest also prompted an outcry from the United Nations, with the spokesman for Secretary-General Antonio Guterres saying Monday “it is crucial to underscore the importance of respecting the right of freedom of expression and the right to peaceful assembly everywhere.”

Syrian presidency announces agreement to integrate Kurdish institutions

The Syrian presidency announced on Monday an agreement with the head of the Kurdish-dominated Syrian Democratic Forces (SDF) to integrate the institutions of the autonomous Kurdish administration in the northeast into the national government.Syria’s new authorities under interim President Ahmed al-Sharaa have sought to disband armed groups and establish government control over the entirety of the country since ousting long-time leader Bashar al-Assad in December after more than 13 years of civil war.The new accord, which is expected to be implemented by the end of the year, comes after days of violence in the heartland of Syria’s Alawite minority that has posed the most serious threat yet to the country’s stability since Assad’s fall. The presidency published a statement on Monday signed by both parties laying out the agreement on “the integration of all the civilian and military institutions of the northeast of Syria within the administration of the Syrian state, including border posts, the airport, and the oil and gas fields”.State media released a photo of Sharaa shaking hands with SDF leader Mazloum Abdi following the signing of the agreement.The statement said “the Kurdish community is an essential component of the Syrian state”, which “guarantees its right to citizenship and all of its constitutional rights”.It also rejected “calls for division, hate speech and attempts to sow discord” between different segments of Syrian society.Abdi said Tuesday that the accord was a “real opportunity to build a new Syria”. “We are committed to building a better future that guarantees the rights of all Syrians and fulfills their aspirations for peace and dignity,” the SDF leader said on X.- ‘Supporting the state’ -The SDF serves as the de facto army of the de facto autonomous Kurdish administration that controls large swathes of northern and eastern Syria, including most of the country’s oil and gas fields, which may prove a crucial resource for the new authorities as they seek to rebuild the country.The new agreement also references “supporting the Syrian state in its fight against Assad’s remnants and all threats to (the country’s) security and unity”.Syria’s new authorities announced on Monday the end of an operation against loyalists of Assad that the Syrian Observatory for Human Rights said had killed at least 1,068 civilians, most of them members of the Alawite minority who were executed by the security forces or allied groups.The violence in the coastal heartland of the Alawite community, to which Assad belongs, broke out last week after gunmen loyal to the deposed president attacked Syria’s new security forces.The fighting has also killed 231 security personnel and 250 pro-Assad fighters, according to the Britain-based Observatory.- Marginalised and repressed -Marginalised and repressed during decades of Assad family rule, the Kurds were deprived of the right to speak their language and celebrate their holidays and, in many cases, of Syrian nationality.The SDF took advantage of the withdrawal of government forces during the civil war which broke out in 2011 to establish de facto autonomy in the north and northeast.The US-backed SDF played a key role in the fight against the Islamic State group, which was defeated in its last territorial stronghold in 2019.Since Assad’s overthrow, the Kurds have shown a degree of willingness to engage with the new authorities, but they were excluded from a recent national dialogue conference over their refusal to disarm.The agreement comes nearly two weeks after a historic call by jailed Kurdistan Workers’ Party (PKK) founder Abdullah Ocalan for the militant group to lay down its weapons and disband.The SDF maintains it is independent from the PKK, which has waged a decades-long insurgency against the Turkish government.It is dominated, however, by the Kurdish People’s Protection Units (YPG), which Ankara views as an offshoot of the PKK.The Turkish government, which is close to Syria’s new authorities, has designated the PKK a terrorist organisation, as have the United States and the European Union.The Turkish army, which has troops deployed in northern Syria, regularly carries out strikes on areas controlled by Kurdish forces, and Turkish-backed groups have been attacking SDF-held areas of northern Syria since November. 

Argentine: la recherche de deux fillettes continue après les inondations meurtrières

Les recherches se poursuivent lundi dans la ville portuaire de Bahia Blanca en Argentine, touchée vendredi par des inondations soudaines responsables de la mort d’au moins 16 personnes, les secours s’efforçant de retrouver deux fillettes portées disparues tandis que l’aide aux sinistrés s’organise.Plus de 500 évacués ont trouvé refuge dans des centres d’assistance improvisés, tandis que des remblais ont été construits et des pompes mises en service pour retirer l’eau, a déclaré le maire de la ville, Federico Susbielles, lors d’une conférence de presse dans l’après-midi.Quatre jours après les pluies diluviennes qui ont frappé cette ville côtière de 350.000 habitants, située à 600 km au sud de la capitale argentine, les autorités ont réussi à rétablir l’électricité dans 70% des foyers, a-t-il ajouté.Route fracturée, enchevêtrements de voitures et boue omniprésente: Bahia Blanca porte encore les stigmates de ce que le gouverneur de la province, Axel Kicillof, a qualifié de “catastrophe sans précédents”.Jusqu’à présent, les autorités ont identifié 15 des 16 personnes décédées.Deux sÅ“urs âgées de 1 et 5 ans, emportées par le courant avec leur mère qui a survécu, sont toujours recherchées. Le corps d’un homme qui a tenté de les secourir a été retrouvé dimanche après-midi.Une centaine de signalements de personnes recherchées par des proches ont été recensés par les autorités locales. Ces dernières estiment que la plupart sont injoignables en raison des réseaux de téléphonie mobile et d’électricité endommagés.- Gestes de solidarité -Les pompiers se sont joints aux efforts de nettoyage des engins de chantier et près de 800 policiers ont été déployés pour prévenir les pillages.Il n’y a toujours “pas de bus, pas de banques, et si vous devez acheter quelque chose, vous devez le faire en espèces car il n’y a pas de système de {paiement)”, a témoigné auprès de l’AFP Guillermo Busteros, un habitant.La reconstruction de Bahia Blanca coûtera environ 370 millions d’euros, a précédemment estimé le maire. Face à l’émotion suscitée par la catastrophe, le gouvernement de Javier Milei a décrété trois jours de deuil national et promis une aide extraordinaire de 10 milliards de pesos (environ 8,7 millions d’euros). La société civile aussi se mobilise. Des associations, notamment sportives, ont lancé des campagnes de dons pour venir en aide aux sinistrés.”Nous avons trois pièces remplies de dizaines de sacs de dons”, explique à l’AFP Simon Oliak, dirigeant du club de foot Atlanta, à Buenos Aires. Des lits, matelas, tables, chaises et une “quantité impressionnante de bidons” d’eau s’entassent, indique l’octogénaire. Les dons affluent depuis dimanche, de la part de membres du club mais aussi d’églises et d’écoles, précise-t-il.L’Association de football argentin (AFA) a publié une vidéo dans laquelle l’entraîneur de l’équipe nationale argentine, Lionel Scaloni, a appelé à faire des dons via la Croix-Rouge.- Condoléances -Le Pape François, de nationalité argentine et hospitalisé depuis plus de trois semaines, “exprime sa proximité avec les personnes touchées”, a fait savoir le Vatican.La star du football et idole nationale Lionel Messi a pour sa part adressé sur son compte Instagram ses “condoléances aux familles qui ont perdu leurs proches et beaucoup de force à tous ceux qui traversent une période difficile”.Ce désastre “est un exemple clair du changement climatique”, a estimé Andrea Dufourg, directrice de la politique environnementale de la ville d’Ituzaingo, près de Buenos Aires. “Nous n’avons d’autre choix que de préparer les villes, d’éduquer les citoyens et de mettre en place des systèmes d’alerte précoce efficaces”, a-t-elle ajouté.Bahia Blanca avait déjà subi une violente tempête en décembre 2023, qui avait fait 13 morts et provoqué des dégâts considérables.Les pluies ont commencé tôt vendredi matin et en quelques heures 400 millimètres d’eau sont tombés, presque autant que les précipitations en un an dans la région, cÅ“ur agricole de l’Argentine.Â