Wall Street Plummets as Paraguay President Resigns

Wall Street experienced a severe sell-off on Thursday, with the S&P 500 falling 4.4% and the Nasdaq composite dropping 5.5%. The decline was driven by investor concerns over potential AI data center moratoriums following Democratic victories in the midterm elections.

In Paraguay, President Santiago Peña resigned after the collapse of Ueno Bank, a digital lender with ties to his government. Attorney General Emiliano Rolón Fernández responded to the crisis by ordering three criminal investigations.

Domestic political shifts continued in the United States. In California, Governor Gavin Newsom announced the commutation of all 548 death sentences to life without parole, and Nithya Raman defeated Mayor Karen Bass in the Los Angeles mayoral race. In Washington, Senate Democratic Leader Chuck Schumer vowed to block any right-wing Supreme Court nominees from President Donald Trump. Meanwhile, court documents revealed the Trump administration conducted secret talks with Iran concerning the deportation of Iranians during the ongoing war.