Good morning. We're covering market shudders and the future of Ukraine. Plus: Five years of Covid.
Economic fears sent world markets into a diveStock markets around the world fell yesterday, a day after President Trump refused to rule out the possibility that his trade policies might cause a recession. The S&P 500 slid 2.7 percent, the sharpest daily drop in months. Several retaliatory tariffs against the U.S. also went into effect. Investors were reacting, in part, to an interview aired on Sunday in which Trump described "a period of transition" for the U.S. economy and suggested more tariffs might come. Prices also plunged for several large tech companies whose stocks have an outsize influence. Markets in Asia were down this morning as the sell-off continued. Analysts at JPMorgan Chase said there was a "materially higher risk of a global recession this year because of extreme U.S. policies." They put the likelihood of a downturn at 40 percent. Analysis: "The market volatility is much less about the bad news of tariffs and much more about the uncertainty of tariffs, especially uncertainty as to what the policy is, where it is headed, how long it will last and what the end result will be," said David Bahnsen, the chief investment officer at the Bahnsen Group. White House memo: Trump demurred when asked whether he expected a recession this year. "I hate to predict things like that," he said. "There is a period of transition because what we're doing is very big."
Ukraine must make concessions, Rubio saidMarco Rubio, the U.S. secretary of state, said that Ukraine would have to concede some of the territory Russia has taken since 2014 as part of any agreement to end the war. As he flew to Saudi Arabia for talks with senior Ukrainian officials, Rubio told reporters, "The most important thing that we have to leave here with is a strong sense that Ukraine is prepared to do difficult things." Ukraine's president, Volodymyr Zelensky, also traveled to Saudi Arabia, where he met with Crown Prince Mohammed bin Salman, who has emerged as a mediator of sorts between Ukraine and Russia. President Trump's contentious recent meeting with Zelensky at the White House has raised the Ukrainian leader's approval rating in his country, giving him a break from his critics. At the front: Kyiv's forces stalled the Russian offensive in the eastern Donetsk region and started to win back small patches of land, soldiers and analysts said.
Kurdish forces signed a deal with the Syrian governmentThe Kurdish-led militia that controls northeast Syria agreed to merge with the country's new government. It was a major breakthrough for the new leaders as they try to unify a country wrestling with violent turmoil. The agreement stipulated that the militia, the Syrian Democratic Forces, which is backed by the U.S., would integrate "all civil and military institutions," as well as its prized oil and gas fields, into the new Syrian state by the end of the year. Unrest: Gunmen attacked a position held by Syrian security forces in Damascus on Sunday night, a war monitor said, raising fears that the deadly violence that began last week in Syria's coastal region could spread. Abductions: After the rebels took over in December, they dismissed all government police officers and security officials. Now, as residents are being abducted on unpatrolled streets, many are afraid to go out at night. From the region:
You might not be as good at interpreting your dog's emotions as you think. Dogs' body language — bowing when they want to play, for instance, or licking their lips and averting their gaze when nervous — speaks volumes, but people are sometimes blind to those cues, according to a new study. "There's no evidence at all that people actually see the dog," a researcher said. "They seem to have a sort of a big blind spot around the dog himself." Lives lived: Athol Fugard, a South African playwright whose works exposed the realities of racial separatism in his homeland, died at 92.
5 years of CovidIn March 2020, everything changed — across the economy, health care, education, work, family life and more. Careers were upturned. Cars stayed off the roads. Demand for oil cratered. People became more alone, detached and disconnected — changes that have lingered. See the effects of the pandemic in charts. The science: Five years on, researchers are starting to understand how a Covid infection can lead to long-term, sometimes invisible changes in the body. For more: We asked 19 photographers to revisit their most enduring images of the pandemic. We hope you've enjoyed this newsletter, which is made possible through subscriber support. Subscribe to The New York Times.
Cook: Use whole-wheat pasta to take this caramelized cabbage dish to the next level. Read: "Careless People," by a former Facebook executive, claims to expose the bad behavior of company leaders. Listen: Our critic reviewed Lady Gaga's "bright, shiny and thoroughly sleek" new album. (Read our interview with her.) Plan: A travel writer planned a whirlwind odyssey of Europe's grandest cities, all by train. Play the Spelling Bee. And here are today's Mini Crossword and Wordle. You can find all our puzzles here. That's it for today's briefing. See you next time. — Natasha Reach Natasha and the team at briefing@nytimes.com.
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martes, 11 de marzo de 2025
Tuesday Briefing: World markets fall
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