In a turbulent day for markets and policy, Spirit Airlines is set to cease overnight operations, while former President Donald Trump has announced a 25% tariff on European Union car imports.
- Markets closed mixed as investors digested the latest developments.
- Spirit Air will shut down overnight, marking a significant collapse in the budget airline sector.
- Trump's new tariff escalates trade tensions with the EU, targeting automobile imports.
- The former president also intensified pressure on Cuba with fresh sanctions.
- Hopes for peace between the US and Iran remain uncertain.
- Exxon and Chevron beat profit estimates, riding a war-driven oil rally.
- Federal Reserve officials Kashkari and Hammack offered insights on recent dissents.
- Microsoft and Amazon have granted the Pentagon more control over the use of AI systems.