Global stocks fell after Donald Trump said that “all countries” would be targeted by his reciprocal tariffs unveiled on April 2nd. Europe’s Stoxx 600 fell by 1.2% in early trading; S&P 500 futures tumbled by 0.8%. Mr Trump also threatened tariffs of 25-50% on countries that buy Russian oil unless the Kremlin co-operates with his attempts to end the war in Ukraine.
Marine Le Pen, the leader of France’s hard-right National Rally, along with 24 of her RN colleagues, was found guilty of misusing European Parliament funds. Prosecutors will rule on whether she should be given a five-year ban from public office. If so, Ms Le Pen could appeal the decision, which would block her bid for the presidency in 2027. She has denied all wrongdoing.
Mr Trump said he was “not joking” about serving a third term as America’s president, despite a constitutional limit of two terms. Speaking to NBC News, Mr Trump said “there are methods [by] which you could do it”. Such a change would require a two-thirds vote of Congress or two-thirds of the 50 states agreeing to call a constitutional convention to propose it.
Myanmar’s junta continued air strikes on rebel groups across the country, even as the UN and neighbouring countries called for a ceasefire to allow the passage of humanitarian aid following Friday’s 7.7-magnitude earthquake. The death toll looked set to rise from around 1,700 people, as rescuers searched for survivors even after the expiry on Monday of a critical 72-hour rescue window.
Elon Musk gave two Wisconsin voters $1m and promised further payments to others who help elect a conservative candidate to the state’s top court. On Friday the court refused to hear a case alleging that Mr Musk’s behaviour amounted to bribery. The election has become the most expensive judicial race in history.
China’s finance ministry will inject billions of dollars into four state-owned banks, helping them to increase their capital buffers in the face of a flagging economy. In separate filings the Bank of China, Bank of Communications, Postal Savings Bank of China and China Construction Bank said they would issue 520bn yuan-worth ($72bn) of new shares, with the ministry buying 500bn yuan of them.
Israel’s prime minister, Binyamin Netanyahu, said he was committed to reaching a deal to free hostages after tens of thousands of protesters in Israel this weekend accused him of not doing enough for them. He also said “cracks” were appearing in Hamas’s negotiating position. On Saturday the militant group said it had agreed to a ceasefire proposal brought by Egyptian and Qatari mediators.
Figure of the day: 18%, the decline in the budget for America’s Bureau of Labour Statistics in real terms over the past 15 years. Read the full story.
Donald Trump has begun his second term at a blistering pace. Keep up with his executive orders, legal challenges against them and what Americans think about it all on our presidential tracker.