Global Shock :US Imposes Tariffs on 92 Countries, Markets React(From Ukraine's deadly drons strike to tariff tremors and Noble buzz _ here's today's global top stories)

 1. U. S. Imposes Broad Tariffs on 92 Countries Starting August 1

Present Donald Trump has signed sweeping executive orders imposing tariffs ranging from 10%-41% on imports from 92 countries, cities national economic security and geographical imbalance. Nations like Canada(35%),India(25%), Taiwan (20%),and Switzerland (39%) are among the hardest hit. The move is projected to significantly raise global consumer prices and disrupt supply chains. Financial markets reacted instantly, with sharp declines across major Asian indices. Economists fear global trade tensions could escalate further in the coming weeks.

Source :Reuters, The Guardian

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2. Stock Markets Slide Amid Tariff Shock 

Following the tariff announcement, global stock markets dipped notably. The MSCI Asia-Pacific index dropped around 0.7%,South Korea's KOSPI fell 4%, Taiwan's index declined 0.9%, and Japan's Nikkei slipped 0.4%. U. S. and European markets also showed increased volatility. Investors are concerned that prolonged protestionist policies may derail global economic recovery efforts post-COVID. Analysts caution against overreaction but note the trend is alarming.

Source : Reuters

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3. Fed Holds Interest Rates as Inflation Persists

The U. S. Federal Reserve chose to maintain interest rates at 4.25-4.50%, resisting concerns and global financial uncertainty. Despite market speculation about a rate reduction, Fed Chair Jerome Powell started the need for continued vigilance. As a result, the US dollar gained strength while gold prices and other safe haven assets rose in global markets.

Source :Reuters

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4. Gold Demand Rises, ETFs See Record Inflows

Global demand for gold rose 3% year over year in Q2 2025, with prices nearing $3.312/oz in some international markets. Investors are increasingly turning to gold as a hedge against currency devaluation and geographical instability. Exchange Traded Funds (ETFs) experienced their highest inflows in a decade, while central bank showed a more cautious approach to large-scale gold acquisitions. 

Source :Reuters

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5. Taiwan Declares U. S. 20% Tariff Temporary Negotiations Ahead 

The Taiwan Ministry of Economic Affairs announced that the new 20%U.S. tariff on its exports is considered "temporary". Officials confirmed that diplomatic channels are being pursued to seek exemptions for semiconductors and advanced electronics. Economists believe that due to the intertwined nature of U. S. Taiwan tech industries, a negotiation based resolution is likely.

Source :Reuters

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6. Cambodia Proposes Trump for Noble Peace Prize 

In a surprising move Cambodia Prime Minister proposed nominating Donald Trump for the Novel Peace Prize, crediting him for mediating the recent ceasefire between Cambodia and Thailand. The ceasefire ended weeks of border clashes that displayed thousands. While the nomination has stirred controversy, Cambodia officials defend their decision, citing direct diplomatic involvement from Trump’s team. 

Source :Reuters 

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7. Ukraine Reports 26 Civilians Killed in Kyiv Drons Stike 

The Ukrainian government confirmed that 26 civilians, including three children, were killed in a large-scale Russian drone and missile strike on Kyiv. Over 159 people were injured in what is now one of the most devastating attacks on the capital this year. Residential buildings, hospitals and energy facilities were among the targets. Ukraine condemned the attack as a war crime. 

Source :Al Jazeera, Reuters 

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8. Witkoff Arrives in Israel Amid Gaza Aid Crisis 

U. S. Special Envoy Steve Witkoff has arrived in Israel to assess the worsening humanitarian crisis in Gaza. The trip comes amid mounting international pressure for effective aid distribution. Reports indicate severe food shortages, medical supply gaps, and civilian distress. Witkoff's mission includes coordination logistics with both Israeli and UN agencies to prevent further deterioration. 

Source :WNG podcast transcript

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9. World Lung Cancer Day: Myths Debunked by Oncologists

On the occasion of World Lung Cancer Day (August 1), oncologists in India launched awareness campaigns to bust six major myths such as the belief that only smokers get lung cancer. Experts highlighted risks from air pollution, secondhand smoke, and genetics and emphasized the value of early CT scan screening for high risk individuals. 

Source :Times of India - Health News

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10. CAPA Airline Leader Summit Begins in Adelaide 

The CAPA Airline Leader Summit 2025 has kicked off in Adelaide, drawing aviation executives from Australia, New Zealand and Southeast Asia. Key topics include post pandemic recovery strategies, sustainable aviation fuel (SAF) initiatives and improving regional flight connectivity. Industry leaders hope to build resilience and innovation in Asia-Pacific aviation. 

Source :Travel & Tour World 

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SUMMARY 

Today's global headlines were dominated by economic shockwaves from sweeping US tariff, mounting stock market volatility, and reactions from central banks and major industries. Ukraine's civilian death toll rose sharply amid fresh drone attacks, while humanitarian concerns in Gaza triggered diplomatic moves. Meanwhile, health campaigns, aviation recovery forums and an unexpected Nobel nomination rounded out a turbulent but news rich day.