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The EU Strikes Back

TLDR
MARKET RECAP → The Nasdaq (QQQ) climbed Wednesday as a softer inflation report calmed economic fears, prompting investors to scoop up battered tech stocks.
FTC SEEKS DELAY IN AMAZON PRIME CASE OVER STAFF SHORTAGES→ The FTC asked for a two-month trial delay, blaming staffing cuts under Trump’s cost-cutting push. Amazon objected, arguing the agency still has resources. 🚨
EUROPE HITS BACK WITH COUNTER-TARIFFS ON U.S. GOODS→ The EU slapped €26B in retaliatory tariffs after Trump’s steel and aluminum duties took effect, escalating trade tensions and fueling fears of a global slowdown. 🚨
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TODAY’S TOP NEWS
FTC Seeks Delay In Amazon Prime Case Over Staff Shortages
🏛️ The FTC requested a two-month delay in its trial against Amazon, citing staffing and budget cuts. The case accuses Amazon of tricking customers into Prime subscriptions.
💰 The request comes as Trump’s Department of Government Efficiency slashed 62,000 federal jobs in February, straining agency resources. The judge questioned if delays would improve the situation.
📉 Amazon pushed back, arguing the FTC still has its trial team intact. Meanwhile, the company faces another antitrust case over alleged monopolistic practices, set for trial in 2026.
TODAY’S TOP NEWS
Europe Hits Back With Counter-Tariffs On U.S. Goods
Trade war escalated as Trump’s 25% tariffs on steel and aluminum took effect, prompting the EU to retaliate with €26B in countermeasures starting in April.
Von der Leyen criticized the tariffs, calling them bad for business and consumers, while Trump doubled down, vowing reciprocal tariffs on EU exports.
Market jitters increased as tensions between Washington and Brussels intensified, with fears that rising trade barriers could drag the global economy into recession. 🚨
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