The World in Brief from The Economist

Technology stocks tumbled over worries that vast AI spending, particularly on data centres, was not generating sufficient returns.

Technology stocks tumbled over worries that vast AI spending, particularly on data centres, was not generating sufficient returns.

Sir Keir Starmer met Xi Jinping in Beijing at the start of a four-day visit to China. Also, the Federal Reserve left its benchmark interest rate unchanged, as expected, after issuing three consecutive cuts beginning in September.

Donald Trump said that a “massive Armada” is heading to Iran. He wrote on his Truth Social platform that the fleet was ready to use “violence, if necessary”.

Donald Trump said that a “massive Armada” is heading to Iran. He wrote on his Truth Social platform that the fleet was ready to use “violence, if necessary”.

Donald Trump said his administration would “de-escalate a little bit” its immigration crackdown in Minnesota. Also, the price of gold rose above $5,300 per troy ounce, a record high, after Mr Trump said the dollar was “doing great” after its value slid significantly.

A federal judge in Minnesota ordered Todd Lyons, the acting head of America’s Immigration and Customs Enforcement, to appear in court on Friday, warning that he may be held in contempt.

A federal judge in Minnesota ordered Todd Lyons, the acting head of America’s Immigration and Customs Enforcement, to appear in court on Friday, warning that he may be held in contempt.

Donald Trump looked set to remove Gregory Bovino from Minneapolis amid outrage at anti-immigration operations. Also, India and the European Union said they had signed the “mother of all trade deals”.