🤝 Trump and Xi strike limited trade truce, cut some tariffs
After a face-to-face meeting in Busan, President Donald Trump said the U.S. will reduce average tariffs on Chinese goods to about 47% as China resumes soybean purchases, allows rare earth exports, and steps up fentanyl enforcement. The deal cools tensions that have hit supply chains and prices, but key disputes on chips and security remain and Beijing has yet to publish full details.
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☢️ U.S. to restart nuclear weapons testing for first time since 1992
Trump directed the Pentagon to begin nuclear tests, breaking decades of restraint under the Comprehensive Nuclear Test Ban Treaty, a global pact the U.S. never ratified. The move could trigger international backlash and complicate arms control, with timing and test sites still unclear.
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🏦 Fed cuts rates 0.25 point, hints at a pause
The Federal Reserve, the U.S. central bank, lowered its benchmark rate to 3.75%–4.00% and Chair Jerome Powell said another cut in December is not a sure thing. That can trim borrowing costs for mortgages, credit cards, and small businesses, but officials are split and missing government data clouds the outlook.
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🌀 Hurricane Melissa leaves deadly trail in the Caribbean, heads toward Bermuda
The storm tore through Jamaica, Cuba, and Haiti with extreme winds and flooding, leaving dozens dead and widespread damage as it moves across the Bahamas and on a track near Bermuda. Power is out for large areas and thousands are in shelters, and officials warn of dangerous surge and a long rebuild.
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🤖 Nvidia becomes first $5 trillion company as AI boom lifts markets
Shares of the chipmaker rose enough Wednesday to push its market value above $5 trillion, a first for any public company. The milestone underscores how demand for AI hardware is steering the broader market and corporate spending, while concentrating risk in a handful of tech giants.
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👋 Those are today’s News Vitals. This was written by AI with human oversight. We strive for accuracy, but mistakes can happen, so please double-check important info. See you next time.