In the realm of politics, various international incidents unfolded this week. Mexican President Andres Manuel Lopez Obrador ordered the suspension of diplomatic ties with Ecuador following an incident at the Mexican embassy in Quito. Concerns mounted over potential retaliation actions by Iranian forces against Israel, triggered by an attack on the Iranian consulate in Syria. Notably, former US President Donald Trump posted a $175 million bond in a civil fraud case, marking a significant development in ongoing legal proceedings, Ednews reports.
Additionally, seismic activity was notable this week, with a 4.8-magnitude tremor shaking New York and New Jersey, prompting flight diversions. Earthquakes also struck China, Taiwan and Japan, with significant casualties reported after a 7.5 magnitude quake shook Taiwain, triggering a tsunami in Japan.
In market and crypto news this week, the price of gold surged to a new record high, surpassing $2,324 per ounce. This climb was attributed to investors reacting to fresh data concerning the US economy. Additionally, Japan's two-year bond yield saw its highest level since 2011, while ExxonMobil shares reached an all-time high of $122 per share. The US stock exchange closed the week on a positive note, buoyed by optimism surrounding the resilience of the nation's labor market.
Turning to the tech sector, Alphabet Inc.'s Class A shares hit a new all-time high, driven by optimism surrounding artificial intelligence. Tesla Inc. CEO Elon Musk announced plans to unveil the long-awaited Robotaxi on August 8, with Tesla's fully self-driving vehicles having surpassed 1 billion miles. In data news, notable figures included an increase in UK house prices in March, a decrease in German inflation to 2.2% and a rise in Turkish inflation to 68.5%.