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Asian markets rise as US stock indexes near records amid easing trade tensions

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Asian markets rise as US stock indexes near records amid easing trade tensions

Shares rose early Tuesday in Asia after U.S. stock indexes drifted closer to records, while oil prices extended gains.

Beijing and Washington dialed back trade friction as the U.S. extended exemptions for tariffs on some Chinese goods, including solar manufacturing equipment, that U.S. industries rely on for their own production.

The U.S. Trade Representative extended those exemptions, which were due to expire on May 31, by three months through Aug. 31.

Still, China criticized the U.S. on Monday over moves it alleged harmed Chinese interests, including issuing AI chip export control guidelines, stopping the sale of chip design software to China, and planning to revoke Chinese student visas.

Hong Kong’s Hang Seng gained 1.1% to 23,417.39, while the Shanghai Composite index added 0.3% to 3,356.36.

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In Tokyo, the Nikkei 225 advanced 0.6% to 37,683.19.

South Korean markets were closed for a snap presidential election triggered by the ouster of Yoon Suk Yeol, a conservative who now faces an explosive trial on rebellion charges over his short-lived imposition of martial law in December.

Australia’s S&P/ASX 200 was up 0.7% to 8,475.50.

In Taiwan, the Taiex gained 1.4%.

On Monday, U.S. stock indexes drifted closer to their records following a stellar May, Wall Street’s best month since 2023.

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The S&P 500 rose 0.4% to 5,935.94 after erasing an early loss from the morning. The Dow Jones Industrial Average added 0.1% to 42,305.48. The Nasdaq composite climbed 0.7% to 19,242.61.

Indexes had fallen close to 1% in the morning following some discouraging updates on U.S. manufacturing. President Donald Trump has been warning that U.S. businesses and households could feel some pain as he tries to use tariffs to bring more manufacturing jobs back to the country, and their on-and-off rollout has created lots of uncertainty.

But stocks rallied back as the day progressed. Nvidia climbed 1.7%, and Meta Platforms rose 3.6%, for example.

Oil prices have gained as attacks by Ukraine in Russia raise uncertainty about the flow of oil and gas around the world.

Early Tuesday, U.S. benchmark crude oil was up 62 cents at $63.14 per barrel. Brent crude, the international standard, picked up 57 cents to $65.19 per barrel.

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Markets took in stride fresh salvos between the world’s two largest economies, just a few weeks after the United States and China had agreed to pause many of their tariffs that had threatened to drag the economy into a recession.

That followed President Donald Trump’s accusation at the end of last week, where he said China was not living up to its end of the agreement that paused their tariffs against each other.

Trump on Friday told Pennsylvania steelworkers he’s doubling the tariff on steel imports to 50% to protect their industry, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods. That helped stocks of U.S. steelmakers climb. Nucor jumped 10.1%, and Steel Dynamics rallied 10.3%.

On the losing side of Wall Street were automakers and other heavy users of steel and aluminum. Ford fell 3.9%, and General Motors reversed by 3.9%.

Lyra Therapeutics soared nearly 311% for one of the market’s biggest gains after reporting positive late-stage trial results of an implant to treat chronic sinus inflammation in some patients.

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In the bond market, Treasury yields rose as worries continue about how much debt the U.S. government will pile on due to plans to cut taxes and increase the deficit.

The yield on the 10-year Treasury climbed to 4.44% from 4.41% late Friday and from just 4.01% roughly two months ago. That’s a notable move for the bond market.

Besides making it more expensive for U.S. households and businesses to borrow money, such increases in Treasury yields can deter investors from paying high prices for stocks and other investments.

Yields had dipped briefly in the morning, before rallying back, following the updates on manufacturing, which suggested that effects of Trump’s tariffs are taking root in the economy.

A report from S&P Global on manufacturing came in better than expected, though uncertainty caused by tariffs has worries high about supplier delays and rising prices.

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Also early Tuesday, the dollar rose to 143.10 Japanese yen from 142.71 yen. The euro slipped to $1.1438 from $1.1443.

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AP Business Writers Stan Choe and Matt Ott contributed.

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Trump says he is directing federal agencies to cease use of Anthropic technology

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Trump says he is directing federal agencies to cease use of Anthropic technology
U.S. President Donald Trump on Friday said he was directing every federal agency to immediately cease all use of Anthropic’s technology, adding there would be a six-month phase out for agencies such as the Defense Department who use the company’s products.
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UN Human Rights Council chief cuts off speaker criticizing US-sanctioned official

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UN Human Rights Council chief cuts off speaker criticizing US-sanctioned official

NEWYou can now listen to Fox News articles!

The United Nations Human Rights Council (UNHRC) abruptly cut off a video statement after the speaker began criticizing several United Nations officials, including one who has been sanctioned by the Trump administration. The video message was being played during a U.N. session in Geneva, Switzerland, Friday morning.

Anne Bayefsky, director of the Touro Institute on Human Rights and the and president of Human Rights, called out several U.N. officials in her message, including U.N. High Commissioner for Human Rights Volker Türk and special rapporteur Francesca Albanese, who is the subject of U.S. sanctions.

Secretary of State Marco Rubio announced sanctions against Albanese July 9, 2025, saying that she “has spewed unabashed antisemitism, expressed support for terrorism and open contempt for the United States, Israel and the West.”

“That bias has been apparent across the span of her career, including recommending that the ICC, without a legitimate basis, issue arrest warrants targeting Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant,” Rubio added.

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Secretary of State Marco Rubio and Francesca Albanese  (Getty Images)

“I was the only American U.N.-accredited NGO with a speaking slot, and I wasn’t allowed even to conclude my 90 seconds of allotted time. Free speech is non-existent at the U.N. so-called ‘Human Rights Council,’” Bayefsky told Fox News Digital.

Bayefsky noted the irony of the council cutting off her video in a proceeding that was said to be an “interactive dialogue,” an event during which experts are allowed to speak to the council about human rights issues.

“I was cut off after naming Francesca Albanese, Navi Pillay and Chris Sidoti for covering up Palestinian use of rape as a weapon of war and trafficking in blatant antisemitism. I named the prosecutor of the International Criminal Court, Karim Khan, who is facing disturbing sexual assault allegations but still unaccountable almost two years later. Those are the people and the facts that the United Nations wants to protect and hide,” Bayefsky told Fox News Digital.

“It is an outrage that I am silenced and singled out for criticism on the basis of naming names.”

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Bayefsky’s statement was cut off as she accused Albanese and Navi Pillay, the former chair of the U.N. Independent International Commission of Inquiry on the Occupied Palestinian Territory; and Chris Sidoti, a commissioner of the U.N. Independent International Commission of Inquiry on the Occupied Palestinian Territory. She also slammed Khan, who has faced rape allegations. Khan has denied the sexual misconduct allegations against him.

Had her video message been played in full, Bayefsky would have gone on to criticize Türk’s recent report for not demanding accountability for the “Palestinian policy to pay to kill Jews, including Hamas terror boss Yahya Sinwar who got half a million dollars in blood money.”

When the video was cut short, Human Rights Council President Ambassador Sidharto Reza Suryodipuro characterized Bayefsky’s remarks as “derogatory, insulting and inflammatory” and said that they were “not acceptable.”

“The language used by the speaker cannot be allowed as it has exceeded the limits of tolerance and respect within the framework of the council which we all in this room hold to,” Suryodipuro said.

The Human Rights Council at the United Nations in Geneva, Switzerland, Feb. 26, 2025. (Denis Balibouse/Reuters)

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MELANIA TRUMP TO TAKE THE GAVEL AT UN SECURITY COUNCIL IN HISTORIC FIRST

In response to Fox News Digital’s request for comment, Human Rights Council Media Officer Pascal Sim said the council has had long-established rules on what it considers to be acceptable language.

“Rulings regarding the form and language of interventions in the Human Rights Council are established practices that have been in place throughout the existence of the council and used by all council presidents when it comes to ensuring respect, tolerance and dignity inherent to the discussion of human rights issues,” Sim told Fox News Digital.

When asked if the video had been reviewed ahead of time, Sim said it was assessed for length and audio quality to allow for interpretation, but that the speakers are ultimately “responsible for the content of their statement.”

“The video statement by the NGO ‘Touro Law Center, The Institute on Human Rights and The Holocaust’ was interrupted when it was deemed that the language exceeded the limits of tolerance and respect within the framework of the council and could not be tolerated,” Sim said.

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“As the presiding officer explained at the time, all speakers are to remain within the appropriate framework and terminology used in the council’s work, which is well known by speakers who routinely participate in council proceedings. Following that ruling, none of the member states of the council have objected to it.”

Flag alley at the United Nations’ European headquarters during the Human Rights Council in Geneva, Switzerland, Sept. 11, 2023. (Denis Balibouse/File Photo/Reuters)

UNRWA OFFICIALS LOBBY CONGRESSIONAL STAFFERS AGAINST TRUMP TERRORIST DESIGNATION THREAT

While Bayefsky’s statement was cut off, other statements accusing Israel of genocide and ethnic cleansing were allowed to be played and read in full.

This is not the first time that Bayefsky was interrupted. Exactly one year ago, on Feb. 27, 2025, her video was cut off when she mentioned the fate of Ariel and Kfir Bibas. Jürg Lauber, president of the U.N. Human Rights Council at the time, stopped the video and declared that Bayefsky had used inappropriate language.

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Bayefsky began the speech by saying, “The world now knows Palestinian savages murdered 9-month-old baby Kfir,” and she ws almost immediately cut off by Lauber.

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“Sorry, I have to interrupt,” Lauber abruptly said as the video of Bayefsky was paused. Lauber briefly objected to the “language” used in the video, but then allowed it to continue. After a few more seconds, the video was shut off entirely. 

Lauber reiterated that “the language that’s used by the speaker cannot be tolerated,” adding that it “exceeds clearly the limits of tolerance and respect.”

Last year, when the previous incident occurred, Bayefsky said she believed the whole thing was “stage-managed,” as the council had advanced access to her video and a transcript and knew what she would say.

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Did the EU bypass Hungary’s veto on Ukraine’s €90 billion loan?

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Did the EU bypass Hungary’s veto on Ukraine’s €90 billion loan?

A post on X by European Parliament President Roberta Metsola has triggered a wave of misinformation linked to the EU’s €90 billion support loan to Ukraine, which is designed to help Kyiv meet its general budget and defence needs amid Russia’s ongoing invasion.

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Hungary said earlier this week that it would block both the loan — agreed by EU leaders in December — and a new EU sanctions package against Moscow amid a dispute over oil supplies.

Shortly afterwards, Metsola posted on X that she had signed the Ukraine support loan on behalf of the parliament.

She said the funds would be used to maintain essential public services, support Ukraine’s defence, protect shared European security, and anchor Ukraine’s future within Europe.

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The announcement triggered a wave of reactions online, with some claiming Hungary’s veto had been ignored, but this is incorrect.

Metsola did sign the loan on behalf of the European Parliament, but that’s only one step in the EU’s legislative process. Her signature does not mean the loan has been definitively implemented.

How the process works

In December, after failing to reach an agreement on using frozen Russian assets to fund Ukraine’s war effort, the European Council agreed in principle to provide €90 billion to help Kyiv meet its budgetary and military needs over the next two years.

On 14 January, the European Commission put forward a package of legislative proposals to ensure continued financial support for Ukraine in 2026 and 2027.

These included a proposal to establish a €90 billion Ukraine support loan, amendments to the Ukraine Facility — the EU instrument used to deliver budgetary assistance — and changes to the EU’s multiannual financial framework so the loan could be backed by any unused budgetary “headroom”.

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Under EU law, these proposals must be adopted by both the European Parliament and the European Council. Because the loan requires amendments to EU budgetary rules, it ultimately needs unanimous approval from all member states.

Metsola’s signature therefore does not amount to a final decision, nor does it override Hungary’s veto.

The oil dispute behind Hungary’s opposition

Budapest says its objections are linked to a dispute over the Druzhba pipeline, a Soviet-era route that carries Russian oil via Ukraine to Hungary and Slovakia.

According to the Centre for Research on Energy and Clean Air (CREA), Hungary and Slovakia imported an estimated €137 million worth of Russian crude through the pipeline in January alone, under a temporary EU exemption.

Oil flows reportedly stopped in late January after a Russian air strike that Kyiv says damaged the pipeline’s southern branch in western Ukraine. Hungary disputes this, with Prime Minister Viktor Orbán accusing Ukraine of blocking it from being used.

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Speaking in Kyiv alongside European Commission President Ursula von der Leyen and European Council President António Costa, Ukraine’s President Volodymyr Zelenskyy said the pipeline had been damaged by Russia, not Kyiv.

He added that repairs were dangerous and could not be carried out quickly without putting Ukrainian servicemen in danger.

Tensions escalated further after reports that Ukraine struck a Russian pumping station serving the pipeline. Orbán responded by ordering increased security at critical infrastructure sites, claiming Kyiv was attempting to disrupt Hungary’s energy system.

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