The S&P 500 fell 4.36% on Thursday, its worst day since April 2025, as the Nasdaq dropped 5.5% on fears of tighter rules on AI. Paraguay's president, Santiago Peña, resigned and was impeached minutes later after a bank collapse froze savings. Hoax bomb threats hit at least 27 European flights for the second time this week. California's governor commuted the sentences of all 548 death row inmates.
World mood: Uneasy · 102 stories from 892 headlines
Democrats won control of both chambers of Congress in Tuesday's midterm elections. Their House count passed 250 seats as more races were called in Ohio, Arizona and North Carolina. Democrats are preparing investigations into the administration. President Trump kept his veto power, and he has said impeachment would hurt the Democratic Party. Some Republicans blame him for the losses, and Speaker Mike Johnson said he will not seek to lead his party in the new Congress.
Why it matters: Divided government in Washington can block or reshape US policy on trade, the economy and the Iran war that affects other countries.
The US holds midterm elections halfway through a president's term. Republicans held both chambers before this vote. Trump's approval and the cost of living were major issues.
US stocks fell sharply on Thursday. The S&P 500 dropped 4.36%, its worst day since April 2025, and the Nasdaq lost 5.5%. Investors worry that Democrats may push limits on data centers and the AI industry. Tesla and SpaceX lost more than $420 billion in combined market value. Asian markets fell on Friday, and South Korea halted trading on its main index with a circuit breaker.
Why it matters: A drop in AI shares hits retirement savings and could slow spending on data centers worldwide.
AI companies have driven much of the stock market's gains in recent years. Some Democrats have called for a national pause on data center construction.
Vice President JD Vance said the Iran war cost Republicans control of Congress. Trump also pointed to the war and said Iran could take 25 years to rebuild. Defense Secretary Pete Hegseth, a strong backer of the war, said he will not back down. Israel's UN ambassador rejected Vance's claim. Secretary of State Marco Rubio denied reports that he plans to resign.
Why it matters: Doubts inside the US government about the Iran war could affect oil prices and security across the Gulf.
The US and Israel have been at war with Iran, which has disrupted shipping and raised energy prices. The war has been unpopular with many American voters.
A Russian strike on an aid center in Zaporizhzhia province has killed 43 people. Rescuers are still searching the rubble for about 30 missing. Separately, a six-day truce in the town of Oleshky was credited to Melania Trump. She hosted Russian and Ukrainian officials at the White House, and Trump said a wider deal is very close.
Why it matters: Strikes on aid sites cut off help for civilians and add to pressure for a ceasefire.
Russia invaded Ukraine in 2022. Zaporizhzhia is near the front line and is hit often.
Iranian forces said five oil tankers and a tugboat caught fire in several incidents in the Strait of Hormuz. Trump said the US may have to destroy the rest of Iran and that people will know soon. Regional states are talking to try to stop the war from restarting. Iran reportedly sent a nuclear proposal to the US through Qatar.
Why it matters: About a fifth of the world's oil normally passes through Hormuz, so attacks there raise fuel prices everywhere.
The US and Israel have fought Iran for months. Shipping in the Gulf has been repeatedly hit.
President Santiago Peña resigned on Thursday, and lawmakers voted unanimously to impeach him minutes later. Ueno Bank collapsed and froze savings for about 3 million customers. Prosecutors opened a criminal inquiry into Peña, and he says he will defend himself. Protesters and police clashed outside Congress. Refunds to account holders of up to 10 million guaraníes start on November 6.
Why it matters: The crisis left about half the country without access to savings and has toppled a US ally.
Ueno grew fast from a small lender to a bank with millions of customers. Critics say the government let it expand too quickly.
Governor Gavin Newsom commuted the sentences of all 548 people on California's death row to life without parole. It is the largest such commutation in modern US history. California has not carried out an execution in 20 years. Alabama, Florida and Indiana carried out executions on the same day.
Why it matters: It ends the largest death row in the US.
California voters have repeatedly kept the death penalty. Newsom has opposed it for years.
The first lady hosted Russian and Ukrainian officials at the White House and urged them to build on a six-day local truce in Oleshky. Trump met Putin's envoy Kirill Dmitriev separately and did not meet the Ukrainians. He again said a deal is very close but gave no specifics. Ukraine's Zelensky said the truce shows fighting stops when Putin wants it to.
Why it matters: Any real ceasefire in Ukraine would affect European security, energy prices and grain exports.
Russia and Ukraine have fought since 2022. Earlier US-led talks have not produced a lasting ceasefire.
Brent crude rose about 1% to $99.26 a barrel. Prices had fallen sharply on Wednesday on hopes the election result would lead to a deal with Iran. They recovered as ships came under attack in the Gulf. Some US shale producers are holding back drilling despite higher prices.
Why it matters: High oil prices raise fuel and shipping costs for households and businesses worldwide.
Oil prices have been volatile since the Iran war began disrupting Gulf shipments.
A Hong Kong court sentenced activist Joshua Wong to 10 more years under the national security law for collusion with foreign forces. Wong, 30, has been in prison since 2020 and had been expected to be released within months. He will now serve until 2036. Critics say the case shows the law can be used repeatedly against one person.
Why it matters: The ruling shows how Hong Kong's security law is applied to dissent.
Wong rose to fame in the 2014 Umbrella Movement protests. Beijing imposed the national security law in 2020.
Democratic socialist Nithya Raman beat incumbent Mayor Karen Bass in Los Angeles. Raman is a City Council member backed by the Democratic Socialists of America. She will be the city's first South Asian mayor. She has promised action on homelessness and affordable housing. New York and Los Angeles will both have democratic socialist mayors.
Why it matters: Los Angeles will host the 2028 Olympics under a new leader.
Bass was elected mayor in 2022. New York elected Zohran Mamdani last year.
Bomb threats hit at least 27 flights across Europe on Thursday, the second wave this week. Some planes diverted or landed with military escorts. Officials say nothing dangerous was found. BBC reporting says there is no hard evidence linking the threats to Russia, Iran or any group.
Why it matters: The hoaxes disrupt travel and strain air traffic and military resources.
European officials have warned of hybrid threats such as cyberattacks and drones.
Unions called a fourth national strike day over wages and public services. The interior ministry counted 600,000 marchers, while unions claimed about 1.6 million. Police used tear gas in Paris and Lyon, and 70,000 officers were deployed. The National Assembly unanimously rejected the 2027 budget.
Why it matters: Political deadlock over the budget adds risk to France's finances.
France has had repeated protests this autumn over living costs and public services.
Israel's president Isaac Herzog said he will announce on Sunday whom he will ask to form a government. Opposition leader Gadi Eisenkot has the backing of 67 lawmakers, including Arab parties. Netanyahu lost ultra-Orthodox support. Herzog also said Trump's plan to end US military aid hit him like a bolt.
Why it matters: Who leads Israel affects the war, Gaza and ties with the US.
Israel held an election on October 27. No party won a clear majority.
The Bank of England raised its key rate from 3.75% to 4%, the first rise in over three years. The governor signaled another rise soon to fight inflation. The bank warned inflation could near 5%. The pound hit its highest level since the Brexit vote.
Why it matters: Higher rates raise mortgage and loan costs for British households.
Prices have risen since the Iran war pushed up energy costs.
Japan's Nikkei fell 6.32%, falling below 60,000 for a fifth straight day of losses. Chip names including SK Hynix, Samsung, SoftBank and TSMC dropped. Seoul stocks opened sharply lower and trading was halted by a circuit breaker. South Korea's finance minister promised timely action.
Why it matters: Chips from Asia power AI, so the drop affects tech supply chains.
The ANC was at about 32% with over 60% of votes counted in municipal elections. ActionSA and the DA showed growth. Millions voted on Wednesday. The presidency also condemned rising political killings.
Why it matters: Weaker ANC support could force coalitions in major cities.
The ANC has led South Africa since 1994 but has lost support in recent elections.
Two new Ebola vaccine candidates will be added to a clinical trial in DR Congo. The country is battling a deadly outbreak. A British doctor who tested positive was evacuated to a London isolation unit.
Why it matters: New vaccines could help contain an outbreak that threatens neighbors.
Ebola spreads through contact with body fluids and has a high death rate.
A Nigerian court ruled Atiku Abubakar's nomination as the ADC presidential candidate invalid. It found the party's leadership was improperly constituted. The ruling also removed the party's candidates. It can be appealed, and the vote is about two months away.
Why it matters: It threatens the main opposition challenge to President Tinubu.
The ADC has been tied up in lawsuits over its leadership.
Somalia's Supreme Court ruled that the president's term expired on May 15 and the one-year extension was unlawful. It ordered new elections within 90 days. The extension had caused violent clashes with the opposition. The president also dismissed the court's chief justice.
Why it matters: The ruling could resolve or deepen a standoff in a fragile state.
Hassan Sheikh Mohamud's term was extended after disputes over election rules.
Ronaldo, 41, announced his retirement from Portugal's national team after 23 years. He captained Portugal to the Euro 2016 title and won two Nations League titles. Reports cite a falling out with coach Jorge Jesus.
Why it matters: A global sports icon leaves the national stage.
He holds the men's all-time international scoring record.
A London jury convicted comedian Russell Brand of one count of rape and three of sexual assault. The offenses involved four women between 2005 and 2009. Brand, 51, denied the charges. The judge said he will receive a prison term. Police are investigating two more allegations.
Why it matters: The verdict follows years of allegations against a major public figure.
A Wisconsin infant died of measles, the state's first death from the disease in more than three decades. The US faces its highest number of measles cases in decades.
Why it matters: Measles spreads easily where vaccination rates fall.
Measles was declared eliminated in the US in 2000.
Turkey's parliament approved the Mecca Joint Defense Agreement linking Turkey, Saudi Arabia and Pakistan. It lays groundwork for more Turkish help in Saudi Arabia's conflict with the Houthis. Saudi forces intercepted a missile fired toward Medina.
Why it matters: It creates a three-nation military alliance in the Middle East.
Saudi Arabia has fought Yemen's Houthis for years.
The IEA says India's clean energy growth has saved $100 billion in fuel imports. It exceeds expectations. The Middle East war is also driving a solar and battery boom.
Why it matters: Clean power reduces exposure to oil shocks.
A UN report warns climate adaptation funding is far below needs. The UN refugee agency says about 90 million displaced people live in countries highly exposed to climate hazards. Japan's prime minister will skip the climate summit in Turkey.
Why it matters: Poorer countries get less help to cope with climate harm.
Pope Leo began a trip to Uruguay, Argentina and Peru weeks after part of a lung was removed. Activists in Lima urged him to expel abusers from the church. Peru declared an El Niño emergency in most of the country ahead of his visit.
Why it matters: The first American pope visits a region with many Catholics.
Israeli strikes and gunfire killed five people in Gaza, including a child. A strike on a refugee camp killed three. Settlers set fire to olive groves near Ramallah. Demolitions displaced more than 100 people in Biddu.
Why it matters: Violence continues despite diplomatic efforts.
Trump said military aid to Israel will end at the end of the year. Israel's president said it hit him like a bolt. Israeli commentators fear a more distant ally after the midterms.
Why it matters: It reshapes a decades-old military partnership.
China and Canada agreed to extend tariff exemptions on some farm and seafood products and on steel and aluminum until the end of 2028. Canadian canola, lobster and crab keep tariff-free access. Canada also unveiled a budget meant to reduce reliance on the US.
Why it matters: Canadian exporters keep market access in China as Ottawa diversifies trade.
Canada and China have traded tariffs in recent years.
Saudi and Syrian defense ministries signed a cooperation agreement during Syrian President al-Sharaa's visit to Riyadh. The two countries also agreed $403 million in loans. It was al-Sharaa's second visit in under a month.
Why it matters: It deepens Gulf backing for Syria's new government.
Syria's government changed after the fall of Assad in 2024.
Kim Yo Jong, sister of Kim Jong Un, said Pyongyang has no need to sit down with Washington. The remarks dim hopes for a Trump-Kim meeting after Trump's midterm defeat. South Korea's prime minister said she sees no big change in the US alliance.
Why it matters: Diplomacy on the Korean peninsula looks stalled.
Trump met Kim Jong Un several times in his first term.
Former national police chief Listyo Sigit was named a suspect in alleged illegal wiretapping of President Prabowo and other figures. Troops were deployed in Jakarta. The palace said the case points toward treason. Analysts describe an elite power struggle.
Why it matters: It signals instability at the top of Southeast Asia's largest economy.
Colombia's Congress passed a bill ending political negotiations with armed groups. Groups must submit to ordinary criminal justice. Reduced sentences are offered for disarming and cooperating with prosecutors.
Why it matters: It changes how Colombia deals with armed groups after years of failed talks.
Petro's 'total peace' sought negotiations with several armed groups.
El Salvador's President Bukele touted military intervention in Haiti. Haitian police found a vehicle used by four missing Salvadoran technicians. Gangs killed 16 people in Arcahaie in apparent retaliation, according to ANSA.
Why it matters: Civilians bear the cost as the foreign push escalates.
Two tornadoes hit southern Brazil, destroying parts of Chapecó Airport in Santa Catarina. Four municipalities are in a state of emergency. Flights were suspended. Casualties had not been reported.
Why it matters: The damage cuts air access for the region.
Somalia rejected Israel's appointment of an ambassador to Somaliland and plans for an embassy in Hargeisa. It called the moves a violation of its sovereignty.
Why it matters: It deepens a dispute over Somaliland's status.
Somaliland declared independence from Somalia in 1991 and lacks wide recognition.
Ethiopia ordered six Sudanese diplomats out and the closure of a consulate, reports said. It followed Sudanese complaints accusing Addis Ababa of supporting the RSF paramilitary. Drone attacks across Sudan killed at least 14 civilians.
Why it matters: It strains ties between two neighbors as Sudan's war continues.
Hubert Aiwanger, 55, Bavaria's deputy premier and Free Voters leader, was found dead in a Berlin hotel. Police and prosecutors opened an investigation. The cause of death was unknown. He had canceled an event for health reasons.
Why it matters: It removes a prominent figure in Bavarian politics.
Aiwanger led the Free Voters party and shaped Bavarian politics for almost two decades.
Hackers targeted cold rooms at French blood banks, raising temperatures in refrigerators. French authorities said a new attack on three sites was foiled. It followed attacks on supermarket freezers across Europe.
Why it matters: Spoiled blood could affect hospitals and patients.
Smart refrigeration systems can be reached over the internet.
Australia's oldest department store, founded 188 years ago, went into administration after years of steep losses. Its 38 stores and website keep operating while receivers review the business. Thousands of jobs are at risk.
Why it matters: Jobs and retail in outer suburbs and regions are at risk.
David Jones has been a fixture of Australian retail since 1838.
LNG prices in Asia have tripled this year. Qatar is set to become the largest buyer of US LNG. Africa's LNG exports are projected to rise 175%. Butane prices hit 30-year highs in Europe. The UAE weighs a third pipeline avoiding Hormuz.
Why it matters: Heating and power costs rise as supply shifts.
Zelenskyy hopes the Democratic Congress will bring more aid. EU officials urged it to press Russia. Talks are set for Abu Dhabi on Nov. 10-11, and Melania Trump hosts Russian and Ukrainian representatives on Nov. 5.
Why it matters: US support affects the war's course.
Amish Shah, Abdul El-Sayed (first Muslim senator), Gina Hinojosa (Texas's first Latina governor), Deb Haaland and Peggy Flanagan won historic races. Five Black governors were elected.
Why it matters: Elected officials more closely reflect the population.
Previously only three Black governors had been elected.
The US sanctioned two people and an entity accused of supplying Iran air defense systems. Treasury Secretary Bessent said countries are 'either with us or against us'.
Why it matters: Raises pressure on Iran's suppliers.
LIV Golf is closing after a rescue deal with BC Partners fell through. The league lost its financial backing from Saudi Arabia's investment fund. It launched in 2022 as a rival to the PGA Tour. Planned events, including one in Australia, are likely cancelled.
Why it matters: It ends a rival tour that reshaped pro golf pay.
LIV signed top players with large Saudi-backed contracts.
NASA's Swift gamma-ray telescope re-entered the atmosphere over Sumatra. It studied gamma ray bursts and exploding stars for nearly 22 years. It ended its mission as planned.
Why it matters: Swift's data shaped understanding of the universe's most violent events.
Launched in 2004, Swift alerted astronomers to bursts within seconds.
Hungary made secret police records public in a database of about 60,000 names. Prime Minister Péter Magyar said more documents will follow in February 2027. The release has revived debate about informants and guilt.
Why it matters: It gives families access to records long kept secret.
Jennifer Balcarras and her daughter Selah Reed died after a suspected grizzly attack on a trail near Bella Coola, British Columbia. Officials say more than one bear may have been involved.
Why it matters: It prompts warnings for hikers in bear country.
A wage board agreed to raise garment workers' minimum pay after five days of protests and clashes with police. Workers want ৳30,000 a month, up from ৳12,500. The board did not give the new figure.
Why it matters: The industry is a major clothing supplier to Western brands.
Garment workers have protested over pay and rising prices.
China blocked SoftBank's takeover of ABB's robot unit. The deal had been expected to lift SoftBank's revenue. Chinese stocks are in a bear market, with over $3 trillion wiped out.
Why it matters: It shows regulators shaping global tech deals.
The German arms maker cut its 2026 outlook for the second time in three months. It cited delays to German military projects and artillery shell deliveries.
Why it matters: It points to slower defense spending in Europe.
A parliamentary report found the UK dangerously dependent on China for critical minerals. They are needed for defense, AI and net zero. MPs call for central policy and funding for mines.
Why it matters: Supply risks could raise costs for industry.
A new study says Antarctic blue whales are creeping back from the brink of extinction. They have been protected for 50 years. Researchers say continued oversight is key.
Why it matters: It shows protection can restore species.
A Jordanian security officer was killed and another wounded in a stabbing attack in Amman. The suspect was arrested. Officials described it as a terrorist attack.
Why it matters: It raises security concerns in a key regional partner.
After the Students' List won Serbia's election, a regulator imposed forced pauses on pro-Vucic broadcasters Informer and Prva. Police have been detained over alleged abuse of protesters and stalled cases are moving.
Why it matters: It marks a shift in a country long gripped by protests.
Students led mass protests against the government.
Elon Musk spent about $446 million on campaigns for Republican candidates, a record, and most lost. Shares of Tesla and SpaceX dropped after the results. Democrats have suggested investigations of his businesses. Musk joked about the defeat.
Why it matters: The result raises political and regulatory risk for companies tied to Musk.
Musk was a major Trump donor and adviser. He has large government contracts through SpaceX.
The US, Japan, Australia and India held joint maritime exercises off Yokosuka on Thursday. The four make up the Quad security group. Reports described the drills as expanding maritime strength aimed at balancing China.
Why it matters: Shows the four partners coordinating in the Indo-Pacific.
The Quad was formed to cooperate on regional security and trade.
NextDC shares jumped over 40% after Goodman and Digital Realty sought up to 9.9% stakes. Mitsui Chemicals is eyeing a bid for JSR worth over ¥1 trillion, which would be Japan's largest chemical deal. Novo Nordisk raised its outlook on Wegovy pill sales.
Why it matters: Deals show demand for data infrastructure and obesity drugs.
Customs agents in Peru found more than 3,000 tarantulas in socks inside three suitcases. They were bound for Germany, where they could fetch about €1.5 million.
Why it matters: It shows the scale of illegal wildlife trade.
Rinky Hijikata followed his win over Novak Djokovic with another victory at the Paris Masters. He beat a player who had earlier knocked out Alex de Minaur.
UNSW engineers found chemicals in sewage-based fertilizer that may stay in farmland soil for years. They say these chemicals deserve closer checks by regulators.
An international team led by Leiden University used LOFAR to make the sharpest, most sensitive radio image of the sky so far. The team says the image shows far more detail than earlier maps.
Researchers at Tohoku University and the Japan Atomic Energy Agency used electricity to control an unusual quantum state in a magnet. It is the first time this has been shown in a magnet.
Alan Jones, who won the 1980 Formula 1 world championship, has died a few days after his 80th birthday. He won 12 grands prix over 10 seasons before retiring in 1986.
An under-20 football match in Uberlândia, Brazil, ended with more than 50 red cards after a mass brawl. Reports describe it as a world record for red cards in a match.
NASA is studying a plan to save the Hubble Space Telescope from falling into Earth's atmosphere. The telescope has been in orbit for more than 35 years.
NASA revealed its newest experimental aircraft, the X-70 Fractal, at Kennedy Space Center in Florida. The aircraft is meant to advance flight research.
NASA showed technology that lets spacecraft find safe landing sites on their own. The test was done on an Alta-X vehicle, and the technology is meant for the Moon and other planets.
Researchers at Bournemouth University studied coins and say the ruler Verica may have been a woman. Verica was central to the Roman invasion of Britain in AD 43.
The MeerKLASS team reported its first measurement of cosmic hydrogen. The work uses the MeerKAT telescope and moves scientists closer to mapping the universe.
A new study says permanent daylight saving time could force American children to make at least 2 billion school trips in darkness. The study warns about the effect on children's safety.
Rockefeller scientists made the most complete map so far of how essential genes interact in tuberculosis bacteria. The map could help find better antibiotic pairs.
Stocks fell sharply because investors fear a Democratic Congress could limit AI data centers. The S&P 500 dropped 4.36% and Japan's Nikkei fell 6.32%. Oil edged up 0.99% to $99.26 as Gulf attacks continued, and the 10-year US yield eased to 4.837%. India's Sensex rose 3.11%.
AI sell-off
Tech shares plunged after the midterms raised fears of tougher rules on AI. The Nasdaq lost 5.5%. Asian chipmakers followed lower.
Oil near $100
Oil recovered after a sharp midweek drop as ships were attacked in the Gulf. Hopes of a US-Iran deal remain uncertain.
Higher UK rates
The Bank of England raised rates to 4% to fight inflation. The pound reached a post-Brexit high. Borrowing costs rise for households.
Wages and profits in Japan
Japanese wages rose 4.6% and Toyota raised its forecast. Stocks still fell with the global tech sell-off.
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