FINANCE

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Financial markets plunged into chaos Monday as President Donald Trump announced sweeping 25% tariffs targeting Japan and South Korea, marking a dramatic escalation in his trade war strategy. The announcement sent shockwaves through Wall Street, with major indices experiencing their steepest declines in months. The Dow Jones Industrial Average slipped 447 points, or 1%. The S&P 500 fell 0.8%, and the Nasdaq Composite lost 0.9%. Trading floors witnessed panic selling as investors processed the implications of Trump's latest trade offensive.

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In a cyber heist that stunned the global financial community, North Korean hackers have pulled off the biggest cryptocurrency theft in history, stealing a staggering $1.5 billion from Bybit, the world's second-largest crypto exchange.

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The rapid adoption of DeepSeek, a budget-friendly chatbot from a Chinese AI company, has triggered a significant reaction in the US stock market. The app's swift rise to the top of free downloads, overtaking competitors like Chat within a week of its public release, has sparked concern in Silicon Valley. Shares of major AI-related tech companies, including Nvidia, Microsoft, and Meta, saw substantial declines on Monday.

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Bitcoin has soared to a new all-time high, surpassing $106,000. This remarkable increase continues a rally that has seen the cryptocurrency's price climb over 50% following Donald Trump's victory in the 5 November election.