S&P 500 opens 2.3 pc lower despite encouraging inflation update as Trump's trade war still weighs
New York, Apr 10 (AP): US stocks are giving back some of their historic gains from the day before as Wall Street weighs a global trade war that has cooled in temperature but is still threatening the economy.
The S&P 500 was down 2.3 per cent early Thursday, a day after surging 9.5 per cent following President Donald Trump's decision to pause many of his tariffs worldwide.
The Dow Jones Industrial Average was down 685 points, and the Nasdaq composite was down 2.9 per cent. Even a better-than-expected report on inflation wasn't enough to get stocks to add to their gains from the day before, including the S&P 500's third-best since 1940.
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3 Indians injured after fire breaks out in UAE's Fujairah due to drone attack
Dubai (PTI): Three Indian nationals were injured on Monday after a fire broke out on the Fujairah Petroleum Industries Zone (FOIZ) in the UAE following a drone strike originating from Iran, according to local media reports.
The relevant authorities in the eastern emirate of Fujairah confirmed that a fire has broken out in the FOIZ, resulting from a drone attack coming from Iran, the state-run WAM news agency reported.
Fujairah Civil Defence teams immediately responded to the incident and are continuing efforts to bring the fire under control, it added.
Three Indian nationals sustained moderate injuries after the fire broke out on the FOIZ, the Khaleej Times reported, quoting authorities in Fujairah.
The injured were taken to the hospital for treatment, it added.
In a post on X, the UAE's Ministry of Defence said that Iran launched four missiles toward various areas across the country. "Three were successfully engaged over the country's territorial waters, while one fell into the sea," it said.
The ministry urged the public to comply with all public safety procedures when warning messages are issued to the public.
Authorities have urged the public not to circulate rumours and to rely only on official sources for information, Gulf News reported.
