S&P 500 falls more than 10% below recent high as markets rattled by Trump

The S&P 500, a key US stock market index, closed in correction territory on Thursday as the volatility of Donald Trump’s trade wars rattled investors.The index closed more than 10% down from its 19 February peak as Wall Street approaches the end of a second week of pressure.The technology-focused Nasdaq Composite also closed in correction last Thursday, while the Dow is over 9% down from its peak in December.On Thursday, after Canadian and EU leaders hit back on American tariffs on steel and aluminum imports, the US president threatened a new 200% tariff on European alcohol, in response to a 50% EU tariff on American bourbon imports.“This will be great for the Wine and Champagne businesses in the US,” Trump wrote on Truth Social

Ex-Barclays boss claims his marriage is at risk after admitting in court to sex with Epstein employee

The former bank boss Jes Staley has claimed his honesty in court has “put my marriage at risk” after his lawyer complained that forcing him to disclose he had sex with a member of Jeffrey Epstein’s staff had resulted in “public humiliation”.The ex-Barclays chief executive capped off three and a half days of cross-examination by the Financial Conduct Authority (FCA) by suggesting his willingness to endure scrutiny showed he had no interest in misleading the regulator, which alleges he lied about the depth of his relationship with Epstein.Staley is trying to overturn the FCA’s 2023 ruling that led to a lifetime ban from the City and the loss of £18m in pay and bonuses from Barclays.Speaking at the Upper Tribunal in London on Thursday, he said: “On my own costs, I crossed the Atlantic to be in the tribunal to be open and honest. I could have stayed at home

How to end your phone addiction once and for all | Letter

The Guardian has published quite a lot of articles recently expressing some concern over the use of smartphones. Emma Beddington’s piece (My phone knows what I want before I do. That should be worrying – but it’s oddly comforting, 10 March) is perhaps the most alarming to date, mitigated to only some degree by her self-awareness. But help is at hand.There is a simple way in which we can set ourselves free

Crypto reaps political rewards after spending big to boost Trump

Hello, and welcome to TechScape. In this week’s edition, the crypto industry’s political investments pay off in spades, the left attempts to reclaim an optimistic view of our shiny technological future, and your memories of Skype.The US president hosted prominent crypto leaders at the White House on Friday in what seemed like a choreographed climax to weeks of handing the industry win after win.The day before, Donald Trump signed an executive order to create a “strategic reserve” of cryptocurrency for the US, which he called “digital Fort Knox for digital gold to be stored”. It’s just one of several recent announcements that indicated a new and friendly posture toward the industry

AFL blocks Cricket Australia bid to play Sheffield Shield final at Adelaide Oval

Cricket Australia has been left “disappointed” after the AFL’s access to Adelaide Oval was prioritised over South Australian cricketers’ hopes of hosting the Sheffield Shield final at the state’s premier venue.The final of the men’s domestic red-ball competition will instead be held at Karen Rolton Oval, on the city’s western fringe, starting on 26 March. The AFL has rights to the ground from 15 March each year.Cricket Australia chief executive Todd Greenberg, who took over from Nick Hockley this month, said the sport was barred from access to the ground for the proposed mid-week match between AFL rounds.“We are disappointed South Australia has been prevented from hosting the Sheffield Shield final at Adelaide Oval,” Greenberg said

Rory McIlroy answers the call after a spot of mobile phone interference

Rory McIlroy opted to let his golf clubs do the talking. A wondrous approach to the 18th, setting up a birdie for an opening round of 67, emphasised the Northern Irishman’s ability to create his own storyline.Social media descended into typical frenzy in the buildup to this Players Championship after McIlroy was heckled by an aspiring golfer during a practice round at Sawgrass. Video footage showed McIlroy removing the intemperate spectator’s mobile phone beside the 17th tee before the individual in question was ejected by security.“No, you can’t,” was the McIlroy response when asked whether he could be probed about the incident