International Relations

Core viewpoint: Discussions are underway between global powers, focusing on conflict resolution and resource security, potentially signifying shifts in international alliances and trade strategies.

DRC-US Mineral Deal Talks

The Democratic Republic of the Congo (DRC) is negotiating with the United States for a minerals-for-security deal. The DRC proposes US military support, potentially involving equipment, to help contain escalating violence and the M23 rebels, particularly in mineral-rich areas with gold and coltan. In return, the US would gain access to the DRC's mineral resources. This proposal is similar to a prior arrangement the US considered concerning Ukraine. Since January, the conflict has resulted in at least 7,000 deaths.

US-Russia Talks on Ukraine

U.S. President Donald Trump plans to speak with Russian President Vladimir Putin on Tuesday to discuss ending the war in Ukraine. This follows positive talks between U.S. and Russian officials in Moscow.

Trade

Core viewpoint: The US may see agressive changes in trade policy, with potential global economic impacts.

Trump's Tariff Plans

Donald Trump intends to implement a more aggressive tariff regime, including both reciprocal and sectoral tariffs.

International Relations

Core Viewpoint: Diplomatic efforts are underway to end the war in Ukraine, led by U.S. President Donald Trump, but concerns remain about potential concessions and the viability of a lasting ceasefire.

Trump-Putin Discussions on Ukraine

U.S. President Donald Trump plans to speak with Russian President Vladimir Putin on Tuesday to discuss ending the war in Ukraine. Trump indicated that discussions might involve dividing up land, power plants, and other assets. Trump's envoy, Steve Witkoff, met with Putin in Moscow last week, and reportedly Putin "accepts the philosophy" of Trump’s ceasefire and peace terms. Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov also discussed "next steps" regarding a ceasefire proposal. Trump is aiming for a 30-day ceasefire, which Ukraine reportedly accepted last week. However, heavy aerial strikes continue. Trump aims to potentially announce something by Tuesday.

Ukraine Frontline Perspective

A US medic on the front line near Konstantinyvka expressed concerns regarding ceasefires, highlighting that Russia does not commit to them. The medic also voices the frustration with the situation and a strong determination of Ukraine to never give up.

International Relations

Core viewpoint: The attacks highlight escalating tensions in the Middle East and the potential for further military intervention in the region.

US Strikes on Houthis in Yemen

US President Donald Trump ordered military strikes against Yemen's Iran-aligned Houthis. The strikes are in response to Houthi attacks on Red Sea shipping. Trump vowed to use "overwhelming lethal force" until the attacks cease. The attacks occurred along a vital maritime corridor. This suggests potential widespread implications on International trades.

International Relations

Core Viewpoint: Global tensions are rising, with significant developments in North America and Eastern Europe impacting international alliances and security.

Canadian PM Seeks Alliances Amid US Tensions

Canadian Prime Minister Mark Carney is visiting Paris and London to strengthen alliances with France and the UK, amidst attacks on Canada's sovereignty and economy, seemingly referencing former president Donald Trump. Carney's trip includes meetings with French President Emmanuel Macron, UK Prime Minister Keir Starmer, and King Charles III to diversify trade and coordinate a response to economic pressures. He will also reaffirm Canada's Arctic security and sovereignty.

Eastern Europe Conflict

Core Viewpoint: The conflict in Eastern Europe intensifies, with significant geopolitical implications and shifting power dynamics.

US Stance on Russia Sanctions

The United States president faces critical decisions regarding the EU's approach to Russian goods and energy. The administration has presented a dual stance, threatening increased sanctions while also offering to ease them during talks concerning the war in Ukraine. Latvia, advocating for stronger action against Russia, is directly engaging with the US due to the significant impact of American sanctions.

Ukraine Loses Ground in Kursk

Ukraine is experiencing significant territorial losses in the Kursk region due to a major Russian offensive.

Disaster Response

Core Viewpoint: The Federal Government is actively responding to the widespread devastation caused by recent tornadoes, providing support to affected states.

Trump Activates National Guard in Tornado-Ravaged Arkansas

Following widespread tornadoes and heavy winds that struck multiple states over the weekend, leaving at least 37 dead, President Donald Trump activated the National Guard in Arkansas. The storms caused significant damage to buildings and homes across the Heartland and extended into the northern regions. Trump expressed his condolences and affirmed his administration's readiness to assist state and local officials. Arkansas Governor Sarah Huckabee Sanders confirmed the deployment of National Guard troops and state police to provide security and humanitarian aid. Residents in affected areas, such as Missouri, were involved in rescuing neighbors trapped in rubble. Sanders stated Trump conveyed his support and offered assistance.

Politics

Core Viewpoint: The Trump administration is actively pursuing controversial policies related to international relations and immigration, raising concerns about potential consequences and legal challenges.

Trump-Putin Communication and Ukraine Concerns

Donald Trump is expected to speak with Vladimir Putin this week, according to Trump's envoy, Steve Witkoff. Witkoff indicated that discussions with Putin last week were "positive" and "solution-based," and that Putin "accepts the philosophy" of Trump's ceasefire and peace terms. Concerns have been raised that the proposed settlement might favor Russia at the expense of Ukraine and its European allies.

Controversial Immigrant Transfers

The Trump administration has transferred hundreds of immigrants to El Salvador, despite a federal judge's order temporarily blocking deportations under a wartime declaration targeting Venezuelan gang members. Officials confirmed the transfers on Sunday.

Politics

Core Viewpoint: Political tensions and international relations are under scrutiny, with Trump's criticisms and potential policies creating waves domestically and abroad.

Trump Criticizes Biden's Use of "Autopen"

Former President Donald Trump criticized Joe Biden on social media, questioning Biden's use of "autopen signatures" and implying someone else controlled the country during his term. This sparked online debate.

Colombia's Diplomatic Efforts

Colombia is actively engaging in diplomatic efforts to avoid being blacklisted in an upcoming U.S. review in September.

International Trade

Core Viewpoint: Potential US policies under a Trump administration creates concern amongst trade partners.

Champagne Industry Faces Challenges

The Champagne industry experienced a difficult year due to unfavorable weather conditions, which resulted in a reduced harvest.

Future Economic Uncertainty

There is some economic uncertainty ahead, but some things should become clearer in the near future.

US Politics and Foreign Policy

Core Viewpoint: Recent actions by the Trump administration showcase an assertive and, at times, controversial approach to both domestic and international challenges, raising questions about legal boundaries and international norms.

US Military Action Against Houthi Rebels

US warships have shot down approximately a dozen Houthi drones since President Donald Trump launched airstrikes against the group on Saturday. The drones were targeting the U.S. Navy's Truman Carrier Strike Group. This follows nearly a year and a half of Houthi attacks. Trump re-designated the Houthis as a foreign terrorist organization in January.

Defiance of Court Order on Deportation

El Salvador's president mocked a court order regarding deportation flights, stating "Oopsie…Too late," indicating the flights would not return to the United States. Top U.S. administration officials reportedly thanked him. This raises a significant challenge regarding the rule of law.

Debate Over Visa Holders' Rights

The Secretary of State has suggested that the right to protest and support causes may not be extended to "guests" on visas, raising debate of the legal rights on non-citizens in the US.

Politics & Government

Core Viewpoint: The Trump administration continues to face controversy and scrutiny on multiple fronts, from immigration enforcement and free speech debates to international relations and traditional political events.

Deportation of Migrants and Legal Challenges

President Trump thanked El Salvador after its president shared a video of deported migrants, including alleged MS-13 gang members and Venezuelans, landing in Central America. Trump referred to the migrants as "monsters." A Trump administration official confirmed that 261 illegal aliens were deported. A federal judge ordered a stop to the deportations, but officials stated the planes were already in international airspace. The White House argued the order lacked a lawful basis. This action highlights the ongoing tension between executive action and judicial oversight in immigration policy.

Free Speech Debate and Activist Arrest

Bill Maher criticized the Trump administration following the arrest of anti-Israel activist Mahmoud Khalil, a Syrian national and leading figure in Columbia University protests, whose green card and visa are being revoked. While disagreeing with Khalil's views, Maher defended his right to free speech. Secretary of State Marco Rubio countered that Khalil's arrest is not a free speech issue, as the U.S. can deny visas. This incident raises complex questions about the balance between national security and First Amendment rights.

Absence from Gridiron Club Dinner

President Trump and most of his administration skipped the annual Gridiron Club dinner, an event where politicians and the press typically engage in light-hearted exchanges. This absence signals a continued strained relationship between the Trump administration and the media.

International Relations

Core Viewpoint: Potential shifts in US foreign policy approach, that suggest possible territorial concessions by Ukraine to Russia.

US Hints at Ukraine Concessions

US security chief Mike Waltz suggested Ukraine might need to cede some territory to Russia and abandon NATO membership aspirations. This hints at a discussion point that could be raised for a ceasefire.

Politics

Core viewpoint: The Trump administration's policies are generating legal challenges and creating uncertainty for specific groups.

Deportation of Venezuelan Immigrants

The Trump administration announced the deportation of hundreds of immigrants, alleged to be members of a Venezuelan gang, to El Salvador under the Alien Enemies Act. A judge temporarily blocked the effort, although the government claims some had already been removed. The ACLU and Democracy Forward filed a lawsuit, arguing the administration was misusing the Act.

Concerns of LGBTQ+ Federal Workers

LGBTQ+ federal workers report a climate of suspicion and uncertainty as the Trump administration reportedly purges transgender people and DEI (Diversity, Equity, and Inclusion) initiatives from the federal government.

Politics & Security

Core Viewpoint: The current administration is taking decisive actions on multiple fronts, balancing domestic policy enforcement with international military engagement, reflecting a broad and assertive approach to governance.

Trump Wins Golf Tournament Amidst Yemen Strikes

Donald Trump announced his victory in a golf tournament at his Palm Beach County, Florida club. Concurrently, the White House released photos of Trump monitoring U.S. military strikes against Iran-backed Houthis in Yemen. U.S. Central Command stated these strikes were aimed at defending American interests and restoring freedom of navigation. The Houthi-run Health Ministry reported at least 31 deaths from the strikes.

Accelerated Deportations and Arrests of Gang Members

The Department of Homeland Security arrested almost 300 members of the Tren de Aragua gang. Simultaneously, President Donald Trump invoked the Alien Enemies Act of 1798 to accelerate deportations.

International Relations

Core viewpoint: Anticipation and apprehension surround potential shifts in international relations and policies, focusing on leadership discussions and human rights concerns.

Potential Positive Dialogue Expected

Steve Witkoff, who recently met with Putin, anticipates a positive discussion between the presidents.

Travel & Tourism

Core Viewpoint: Travel sentiments are showing a reluctance towards US visits, influenced by political factors.

US Travel Cancellations

Some Toronto residents express strong reservations about traveling to the United States, citing reasons that exclude emergencies. One resident stated, "Barring a funeral or someone in the hospital, I am not going to the United States." This signifies potential impacts of politics on tourism.

Human Rights

Core viewpoint: El Salvador's anti-crime strategy raises significant human rights concerns due to its severe prison conditions.

El Salvador's Mega-Prison Conditions

El Salvador's mega-prison, a key part of the country's anti-crime strategy, prohibits visitation, recreation, and education. Inmates are reportedly kept in overcrowded cells with many others and are denied access to visitors and recreational activities.

Politics

Core Viewpoint: Political tensions are high, marked by internal policy debates and international conflict impacting US perspectives.

White House Defends Trump's Economic Plan

White House Press Secretary Karoline Leavitt defended President Trump's economic strategy, asserting that his tariffs would generate revenue for larger tax cuts. She criticized media sensationalism following a disagreement with an Associated Press reporter over the tariff plan.

Trump's Tesla Endorsement Sparks Controversy

Bernie Moreno applauded Trump for celebrating ‘American-made’ Teslas, despite Elon Musk’s potential conflict of interest.

International Relations

Core Viewpoint: The ongoing war in Ukraine highlights the challenges of providing medical care on the frontline, with strong criticism of perceived US political betrayal and the violation of humanitarian norms by Russia.

Ukraine Conflict: Medic's Perspective

A US medic on the frontline near Konstantinyvka, Ukraine, detailed the challenges of providing care to Ukrainian soldiers, highlighting Russia's failure to commit to ceasefires. The medic expressed fury at what they perceive as Trump's betrayal and emphasized Ukraine's resolve to continue fighting.

International Relations

Core Viewpoint: Diplomatic efforts are intensifying to achieve a ceasefire in Ukraine, with the US playing a central role in negotiations. However, significant hurdles remain as Russia hasn't agreed to the proposal, and differing perspectives persist on the conflict's trajectory.

US-Russia Negotiations on Ukraine Ceasefire

US President Donald Trump and Russian President Vladimir Putin are expected to speak this week regarding a potential ceasefire in Ukraine. US envoy Steve Witkoff described recent discussions with Putin as "positive" and "solution-based," suggesting progress towards an agreement. The US has proposed a 30-day immediate ceasefire, accepted by Ukrainian President Volodymyr Zelenskyy, but Putin has yet to commit. Zelenskyy accuses Russia of not wanting to end the war to improve their battlefield situation, while Putin believes the ceasefire benefits Ukraine more, saying that Russian forces are making advances. US Secretary of State Marco Rubio discussed the matter with his Russian counterpart, Sergey Lavrov.

US Politics

Core Viewpoint: There is some internal political maneuvering within the Republican party and its future direction.

Trump's Stance

Trump publicly disavowed the conservative blueprint on the campaign trail.

US Trade Strategy

US Secretary of State Marco Rubio stated that the US would “reset the baseline” to ensure fair treatment in future trade deals.

Politics

Core Viewpoint: Internal Democratic Party divisions are surfacing, while Donald Trump is actively involved in international diplomacy and facing domestic criticism, especially regarding LGBTQ+ rights.

Democratic Party Rift

Several prominent Democrats, including Rep. Alexandria Ocasio-Cortez and former House Speaker Nancy Pelosi, have criticized Senate Minority Leader Chuck Schumer for supporting a continuing resolution to keep the federal government open. They argue that Schumer ceded leverage in protecting key programs, highlighting a division within the party regarding government funding strategy. House Minority Leader Hakeem Jeffries declined to express confidence in Schumer's leadership.

Trump's Ukraine-Russia Diplomacy

Donald Trump is expected to speak with Vladimir Putin this week to discuss ending the war in Ukraine. Trump's envoy, Steve Witkoff, described recent discussions with Putin as "positive" and "solution-based." U.S. envoys are working to narrow the differences between Ukraine and Russia. Turkish President Tayyip Erdogan also spoke with Trump, discussing efforts to end the war and restore stability in Syria.

LGBTQ+ Rights Concerns

Russell T Davies warns that the gay community is in "the greatest danger I have ever seen" since Donald Trump's election, citing a rise in hostility in both the US and UK and criticizing Trump's policies that discriminate against LGBTQ+ Americans. He draws parallels to the AIDS crisis, urging the community to fight back.

Trump Incident

Donald Trump stared down a reporter whose microphone hit him in the face as he spoke to journalists before departing for Mar-a-Lago on Friday, March 14.

Politics

Core Viewpoint: The Trump administration is taking controversial actions across multiple fronts, impacting immigration, media, and free speech, generating legal challenges and raising concerns about fundamental rights and economic accuracy.

Venezuelan Prisoner Transfer and Deportation Efforts

The Trump administration has sent hundreds of Venezuelans, accused of being gang members, to a prison in El Salvador. This occurred after a federal judge blocked deportation flights. El Salvador's President Bukele publicized the prisoners' arrival. The Trump administration aims to leverage this transfer to expand the use of the Alien Enemies Act of 1798 for rapid arrests and deportations of alleged Tren de Aragua members. This action represents a significant shift in immigration enforcement and international cooperation.

Dismantling of Voice of America

President Trump ordered the dismantling of Voice of America (VOA), accusing it of biased reporting and being the "Voice for Radical America." He signed an executive order to eliminate several government offices, including the U.S. Agency for Global Media (USAGM), VOA's parent company. Nearly all VOA staff have been placed on leave or terminated. This action is motivated by Republican accusations of publicly funded media bias against conservatives.

Lawsuit Challenging Deportations of Pro-Palestinian Protesters

The American-Arab Anti-Discrimination Committee (ADC) has filed a lawsuit challenging the Trump administration's actions to deport international students and scholars who protest or express support for Palestinian rights, arguing these actions are unconstitutional.

Trump's Claims about the Economy

Donald Trump claims he inherited a "terrible economy" from Joe Biden. However, standard economic measures show the U.S. economy was strong when Biden left office: unemployment was at 4.1%, inflation was at 2.9%, and 16.6 million jobs were added during Biden’s presidency. These are better economic figures than those of most previous presidents.

Politics

Core Viewpoint: Political discourse continues to be marked by disputes over media access and economic performance, with contrasting narratives emerging.

White House Press Secretary Skips WHCA Dinner

White House press secretary Karoline Leavitt announced she will not attend the White House Correspondents' Association (WHCA) dinner, criticizing the organization as a "monetized monopoly" over White House coverage. She cited the WHCA's lack of inclusivity towards new media and independent journalists. Leavitt highlighted a new White House process for determining the daily press pool, aiming for more diverse voices. The White House reportedly received over 15,000 applications for the new media seat.

Trump's Claims on Biden's Economy

Donald Trump falsely claimed he inherited a terrible economy from Joe Biden, despite economic indicators showing otherwise. When Biden left office the unemployment rate was at 4.1% and inflation was near the target. The US had a strong economic indicators, due to add of 16.6 million jobs during Biden's presidency. Data reveals job losses during Trump's term, that can be attributed to the pandemic.

Politics

Core Viewpoint: President Trump's administration faces increasing scrutiny over domestic and international actions, coupled with plummeting Democratic Party approval.

Trump Administration Faces "Quid Pro Quo" Accusations

The Trump administration is accused of a quid pro quo regarding the Line 5 fossil fuel pipeline project in Michigan. Tim Barnard, a major donor to Trump's campaign, was selected as a contractor, raising concerns about conflicts of interest. Critics question the project's environmental risks and suggest contracts were awarded based on donations rather than merit, bypassing environmental reviews.

Trump's Approval Rating and Economic Concerns

Despite an upswing in positive feelings about the nation's direction, a new NBC News poll shows voters are sour on the economy and President Trump's handling of it. While Trump's approval rating is at 47%, a majority disapproves, particularly regarding inflation and the cost of living.

Democratic Party Popularity Hits All-Time Low

The Democratic Party's popularity has reached an all-time low, with only 27% of registered voters holding positive views. This decline is attributed to frustration among Democrats after their 2024 loss, with voters now preferring their party to stand firm on its positions rather than compromise with President Trump.

Trump Orders Strikes on Houthis in Yemen

President Trump ordered military action against Iran-backed Houthis in Yemen to protect American shipping. The strikes, initiated by U.S. Central Command, reportedly killed at least 31 people. Secretary of State Rubio discussed the strikes with Russian Foreign Minister Lavrov, emphasizing that attacks on U.S. vessels will not be tolerated.

Higher Education

Core viewpoint: Restrictive policies from the Trump Administration cause turmoil in academia across the US.

Higher Education in Crisis

Universities nationwide are facing a difficult situation due to the Trump administration's restrictions on DEI funding and investigations into antisemitism charges. Some institutions are canceling events, freezing hiring, and even revoking admission offers to Ph.D. students. Some professors now advise against pursuing doctoral programs.

Media

Core Viewpoint: Mass administrative leave implemented across journalist and producer roles.

Staff on Administrative Leave

Over 1,300 staff members, including journalists and producers, have been placed on administrative leave.

Culture

Core Viewpoint: Focus grows on Pam Bondi amid discussions surrounding the Epstein files.

Pam Bondi and the Epstein Files

Pam Bondi finds herself at the center of a MAGA storm regarding the Epstein files.

Politics

Core Viewpoint: The Trump administration's actions are generating significant controversy across multiple sectors, raising concerns about conflicts of interest, suppression of dissent, and impacts on both domestic and international institutions.

Accusations of Quid Pro Quo in Pipeline Project

The Trump administration is facing accusations of a quid pro quo regarding the fast-tracking of the Line 5 oil pipeline replacement project in Michigan. Tim Barnard, the contractor, and his wife are major donors to Trump's campaign. Critics question Barnard's experience and highlight the environmental risks, pointing to the administration's expedited approval process as potentially prioritizing donations over due diligence.

Small Business Optimism Amid Policy Concerns

Despite concerns about potential economic downturns, small business owners express optimism about the year's prospects. Surveys indicate high confidence levels, potentially reflecting alignment with Trump's transactional and profit-driven approach.

Cultural Clashes and Fears in Washington, D.C.

Vice President JD Vance faced jeers at the Kennedy Center, highlighting cultural clashes in Washington, D.C. Residents express concerns about budget cuts, workforce reductions, and the removal of a Black Lives Matter mural, perceiving these actions as attacks on the city's liberal culture.

Columbia University Funding Cuts and Free Speech Concerns

The Trump administration canceled $400 million in federal grants to Columbia University, citing alleged anti-Semitic harassment. Critics argue this is a suppression of pro-Palestine speech under an “Israel exception” to DEI prohibitions, despite the university's attempts at compliance.

Funding Cuts to US-Funded Media Outlets

Former President Trump halted funding for U.S.-funded media outlets like Voice of America (VOA) and Radio Free Europe/Radio Liberty (RFE/RL), placing over 1,300 journalists on administrative leave. Critics argue that this decision weakens America and benefits adversaries, while Trump appointee Kari Lake claimed the United States Agency for Global Media (USAGM) is beyond repair.

Johns Hopkins University Staff Layoffs

Johns Hopkins University announced staff layoffs following massive funding cuts to federal aid programs.

Politics

Core Viewpoint: Donald Trump's presidency is marked by decisive action, controversial policies, and a strong stance against perceived "wokeness," while also raising concerns about potential conflicts of interest and extreme measures.

Trump's "Anti-Woke" Victory and Shift in Political Landscape

Comedian Andrew Schulz claims Americans have rejected wokeness after Donald Trump's decisive victory in the 2024 election. Schulz suggests the political "pendulum" has swung away, referencing Trump's "anti-woke" campaign as a key factor. The most effective ad campaign was on the topic.

Trump's Military Action in Yemen

Donald Trump launched military strikes against Yemen's Iran-aligned Houthis on Saturday, March 15, warning of severe consequences if they continue their campaign.

Controversial Deportation Privatization Plan

Erik Prince, founder of Blackwater, is reportedly pitching a $25 billion deal to Trump advisors to privatize mass deportations of 12 million migrants. Prince's close ties to the Maga movement and Steve Bannon raise concerns about the potential for politicized enforcement.

Biden's Visa Restrictions on Israelis

A legal expert highlighted the Biden administration's visa-restriction policy targeting Israelis, noting its political bias and vague language. The expert compared it to Trump's visa policies, arguing Trump's actions are within legal bounds and more restrained.

NASA Headquarters Conditions

NASA employees at the Washington headquarters reportedly returned to an office infested with cockroaches, with some lacking desks.

Politics

Core viewpoint: Shifting alliances and uncertain futures are defining the current political landscape, both domestically and internationally.

National Security Advisor's Precarious Position

Michael Waltz, Trump's national security advisor, faces a precarious position, perceived as too close to Trump by some Republicans, yet not loyal enough by Trump's inner circle. Despite his involvement in Ukraine-Russia ceasefire negotiations, his future is uncertain. His willingness to execute the President's policies, including criticism of Ukraine's President Zelensky, might be key to his survival.

Business

Core viewpoint: Major international deals face increasing uncertainty, highlighting the volatile nature of current global trade.

Multi-Billion Dollar Deal in Doubt

The future of a multi-billion dollar deal is now uncertain. Specific details were not described, other than casting doubt.

Politics & Economy

Core Viewpoint: Donald Trump's policies are causing significant concern and disruption across multiple sectors, impacting global media, immigration, and economic stability.

Trump's "Travel Ban" Proposal

Nearly two months after signing an executive order, a proposal has emerged to identify and restrict citizens from countries with deficient vetting and screening information.

Dismantling of U.S.-Backed Global Media

President Donald Trump is moving to gut U.S.-backed global media outlets, including Voice of America (VOA). An executive order calls for eliminating the U.S. Agency for Global Media (USAGM) "to the maximum extent," with most of VOA's staff placed on administrative leave and a MAGA loyalist appointed as a special advisor.

Finance

Core Viewpoint: Concerns are rising about a potential "Trumpcession" driven by trade wars and tariffs, pressuring central banks to consider interest rate adjustments.

"Trumpcession" Fears and Interest Rate Dilemma

Monetary policymakers are weighing the potential impact of Donald Trump's trade war threats on interest rates. The Federal Reserve and the Bank of England are concerned about a "Trumpcession" caused by tariffs, rising import costs, reduced consumer spending, and declining consumer confidence. There is rising pressure to cut rates sooner to mitigate potential severe economic damage, such as a disproportionate decrease in retail sales due to equity market fall.