News

Iran launches drone attack against Israel

Published

2 years ago

April 14, 2024

Reuters

Iran launched dozens of drones at Israel but they will take hours to reach their targets,

Israel’s military said, an attack that may trigger a major escalation between the regional archenemies, with the U.S. pledging to back Israel.

Two security sources in Iraq said dozens of drones had been spotted flying from Iran toward Israel over Iraqi airspace in what Iranian Press TV called “extensive drone strikes” by the Revolutionary Guards.

Iran has vowed retaliation for what it called an Israeli strike on its Damascus consulate on April 1 that killed seven Revolutionary Guards officers including two senior commanders. Israel has neither confirmed nor denied responsibility for the attack.

U.S. President Joe Biden, who on Friday warned Iran against attacking Israel after saying such a scenario appeared imminent, has pledged to stand with Israel against Iran, the White House said.

Iranian drones

A retired Israeli general, Amos Yadlin, told the country’s Channel 12 news that the Iranian drones were equipped with 20 kg (44 pounds) of explosives each.

Israel’s military said sirens would sound in any threatened areas and that its defences were poised to deal with them.

Earlier on Saturday, Iran’s state-run IRNA news agency reported that a Guards helicopter had boarded and taken into Iranian waters the Portuguese-flagged MSC Aries.

MSC, which operates the Aries, confirmed that Iran had seized the ship and said it was working “with the relevant authorities” for its safe return and the wellbeing of its 25 crew.

MSC leases the Aries from Gortal Shipping, an affiliate of Zodiac Maritime, Zodiac said in a statement, adding that MSC is responsible for all the vessel’s activities. Zodiac is partly owned by Israeli businessman Eyal Ofer.

Israeli Foreign Minister Israel Katz accused Iran of piracy.

News

This may be the AI market correction, according to traders

US stocks tumble as tech giants report uneven earnings, prompting fears of a looming market correction.

Published

1 hour ago

November 5, 2025

Ahron Young

US stocks tumble as tech giants report uneven earnings, prompting fears of a looming market correction.

US stocks have taken a sharp dive as investors grow nervous about stretched valuations and uneven earnings reports from tech giants. Major Wall Street banks, including Morgan Stanley and Goldman Sachs, are warning that the rally could be nearing a 10% correction – a wake-up call for traders betting on unstoppable market momentum.

Nvidia, the world’s most valuable public company, dropped nearly 4%, wiping out around $200 billion in market value. Meanwhile, Palantir slid 6%, dragging other AI and semiconductor names lower. Even gold — a traditional safe haven — dipped 1.6%, signaling widespread investor anxiety.

Bitcoin also broke below the $100,000 mark for the first time since June, underscoring how jittery markets have become. As earnings season unfolds and the US government shutdown looms, investors are questioning whether the bull run that lifted the S&P 35% since April has finally run out of steam.

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News

Dick Cheney dies at 84: The end of an era in American power

Former Vice President Dick Cheney dies at 84, leaving a controversial legacy in American politics and national security.

Published

1 hour ago

November 5, 2025

Ahron Young

Former Vice President Dick Cheney dies at 84, leaving a controversial legacy in American politics and national security.

Former U.S. Vice President Dick Cheney has died at the age of 84, marking the end of one of the most influential — and controversial — political careers in modern American history. Cheney served under four Republican presidents, most notably George W. Bush, where he became known as one of the most powerful vice presidents in U.S. history.

His family confirmed he passed away from complications related to pneumonia and heart disease. Cheney’s decades in Washington were defined by his hardline approach to national security and his role in shaping America’s response to the September 11 attacks.

Even after leaving office, Cheney remained a strong defender of his policies, particularly the 2003 invasion of Iraq. His passing leaves behind a complicated legacy — one that reshaped U.S. foreign policy and continues to influence Republican politics today.

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News

Nasdaq sell-off deepens amid AI stock concerns

Nasdaq sell-off worsens as AI stock valuations spark investor concerns and Palantir shares plummet despite strong earnings

Published

4 hours ago

November 5, 2025

Ahron Young

Nasdaq sell-off worsens as AI stock valuations spark investor concerns and Palantir shares plummet despite strong earnings

In Short:
– Stocks fell due to concerns over AI valuations; S&P 500 down 1.2%, Nasdaq down 1.9%.
– Palantir shares dropped 9% despite strong performance, raising questions about sustainability of high valuations.

Stocks fell on Tuesday as investor concerns regarding artificial intelligence valuations impacted major indices.

The S&P 500 declined by 1.2%, and the Nasdaq Composite dropped by 1.9%, while the Dow Jones Industrial Average lost 304 points, equating to a 0.6% decrease.Palantir shares dropped 9%, despite the company’s strong third-quarter performance and positive forecasts attributed to its AI sector growth. The stock has surged over 150% this year, yet trades at over 200 times its forward earnings, leading investors to question whether such valuations can be sustained.

Other tech stocks also faced declines, including Oracle and AMD, which saw drops of 4% and more than 3%, respectively.

Gains in AI stocks have inflated the S&P 500’s price-earnings ratio above 23, raising concerns about stock valuations. Ameriprise market strategist Anthony Saglimbene highlighted potential risks, stating that investors are questioning if future profit growth will support high capital expenditures.

Market Outlook

Comments from executives at Goldman Sachs and Morgan Stanley further added to market worries.

Both firms predicted potential market pullbacks, with drawdowns of 10% to 20% possible within the next two years. Saglimbene noted a narrow market breadth in recent months, suggesting limited alternatives if a downturn occurs in the tech sector.