Duterte Arrested, Ukraine Ceasefire Talks Resume Amidst Moscow Drone Blitz, and US Markets Plunge

Andrew Sheves

Good morning.

🇵🇭 Breaking* Former Philippine President Rodrigo Duterte was arrested in Manilla in response to an ICC warrant alleging human rights abuses during his time as President. [More - BBC]*

Two headlines to kick off your Tuesday

🇺🇦 Ukraine Ceasefire Talks Resume in Saudi

U.S. Secretary of State Marco Rubio expressed optimism about Ukraine’s partial ceasefire proposal ahead of crucial talks in Saudi Arabia, calling it “the kind of concession needed to end the conflict.” Ukraine is expected to propose an aerial and naval truce during negotiations between Ukrainian officials and U.S. representatives including Rubio, National Security Adviser Mike Waltz, and Middle East envoy Steve Witkoff. The talks follow President Trump’s suspension of military aid to pressure Kyiv toward peace negotiations, with Rubio indicating aid could resume if Ukraine demonstrates commitment to a diplomatic solution. President Zelensky met with Saudi Crown Prince Mohammed bin Salman on Monday but will not participate directly in Tuesday’s discussions. More - BBC

đź’Ą Overnight, Ukraine hit Moscow with a huge barrage of hundreds of drones. Two are reported dead but the damage assessment is still ongoing [BBC live coverage]

📉 Tech Stocks Lead US Market Plunge

U.S. stocks tumbled sharply Monday as investors grew increasingly anxious about Trump’s tariff policies and signs of economic slowdown, with the tech-heavy Nasdaq plummeting 4% in its worst day in 2.5 years. Tesla crashed 15.4%, erasing all post-election gains and falling over 50% from December highs, while Nvidia dropped 5.1% amid a broader tech sell-off. Major banks have abandoned bullish forecasts as China’s retaliatory tariffs took effect and Treasury Secretary Scott Bessent acknowledged the economy “starting to roll a bit.” Goldman Sachs cut its U.S. growth forecast to 1.7% from 2.4%, with JPMorgan warning the S&P could fall another 10% due to “trade uncertainty.” More - FT

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