Massive Collapse in the U.S. Stock Market: $279 Billion Wiped from Nvidia’s Shares / Washington Fuels Optimism for Negotiations… While the Quds Force Warns: Iran’s Response Will Be Different

September 05, 2024

Albinaa’ Newspaper Headlines

 The political editor wrote

Breaking news from Wall Street sent shockwaves worldwide, signalling imminent massive crashes in the U.S. stock market and eclipsing political discourse. Nvidia, the chip manufacturer, saw its stock plummet more than 9% in regular trading, leading to a sharp sell-off in semiconductor stocks on Wall Street. Economic data released yesterday reignited concerns over the health of the U.S. economy. Nvidia’s stock continued to slide in after-hours trading, dropping another 2.4% after the company received a subpoena from the Department of Justice as part of an antitrust probe. Nvidia lost around $279 billion in market value yesterday, marking the largest single-day drop for a U.S. stock in history. The previous record was held by Meta, Facebook’s parent company, which suffered a $232 billion loss in a single day in February 2022.

In politics, while Washington was fueling optimism about negotiations to end the war in Gaza, the Prime Minister of the occupying entity, Benjamin Netanyahu, dashed any hopes for progress. Press conferences by spokespeople for the White House, the National Security Council, and the State Department failed to convince reporters that the U.S.’s optimistic tone was grounded in reality. The crisis, in fact, has reached its peak, with Washington shirking its responsibility as a mediator due to its excessive deference to Netanyahu. For the second consecutive day, Netanyahu appeared in the media, armed with maps to declare his insistence on keeping occupation forces in the Philadelphi Corridor. However, he failed to answer why these forces did not enter the Philadelphi Corridor in the early days of the war, as questioned by a New York Times reporter? And why was the Philadelphi Corridor not part of his original negotiation proposal, which later evolved into President Joe Biden’s initiative announced on May 31, despite Hamas accepting the negotiation framework as presented on July 2?

The most striking part of Netanyahu’s remarks was his reflection on the 2000 withdrawal from Lebanon and the 2005 disengagement from Gaza. He revealed that the entity had tested the promises it received about potentially returning to the areas it left during the first security challenge, only to find those promises false. These promises, according to Netanyahu, were likely American and European, made in conjunction with the withdrawal decisions. He concluded that his government would not accept similar assurances, labelling the withdrawals from Lebanon and Gaza as sources of the disasters and threats the entity now faces. However, Netanyahu sidestepped acknowledging why he is seeking a de-escalation agreement with Lebanon instead of following through on earlier threats of war, or why, after eleven months, he has failed to achieve victory in his negotiations with Hamas.

On the Resistance Front, new operations were announced in Gaza, Lebanon, and Yemen. Meanwhile, the operations commander of the Quds Force, part of Iran’s Revolutionary Guard, declared, “Our response to the assassination of Hamas political chief Ismail Haniyeh will be different, and we will not reveal its method”. He indicated that “the nature and timing of our response will depend on circumstances that can achieve our objectives”. The Iranian official also noted that “there may be a long waiting period before responding to Haniyeh’s assassination until the right conditions arise”.