Wall Street Hits Record Highs as Fed Cuts Rates and Intel Shares Soar

Hadisur Rahman, JadeTimes Staff

H. Rahman is a Jadetimes news reporter covering Business

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Image Source: REUTERS/Brendan McDermid/File Photo

U.S. stocks surged to record highs on Thursday after the Federal Reserve announced an interest rate cut, fueling optimism across Wall Street. The S&P 500 and Nasdaq indexes closed at historic levels, while the Dow Jones Industrial Average also posted solid gains. The rally was driven by strength in the technology sector, led by an extraordinary surge in Intel shares.

Intel jumped nearly 23 percent, marking its biggest one-day increase since 1987, after news that Nvidia would invest $5 billion to acquire a stake in the company. The move sparked a wave of enthusiasm across the semiconductor industry, with the broader chip index climbing more than 3.5 percent. Nvidia also gained over 3 percent, extending its market leadership in the sector.

The rate cut by the Federal Reserve, a quarter of a percentage point, was the first in months and was aimed at supporting the U.S. economy amid signs of a cooling job market. Fed Chair Jerome Powell signaled that policymakers were concerned about labor market softness and suggested further reductions could follow if economic conditions warranted. Investors are now pricing in additional cuts through 2025, raising expectations of a supportive monetary environment for equities.

The Russell 2000 index of small-cap stocks also benefited, reaching its highest close in nearly a year, as lower rates are expected to reduce financing costs for smaller companies. Gains were broad-based, with seven of the 11 sectors in the S&P 500 advancing. Technology led the rally, while consumer discretionary and consumer staples lagged.

By the closing bell, the S&P 500 was up 0.48 percent, the Nasdaq added 0.94 percent, and the Dow rose 0.27 percent. The combination of Fed policy support and strong corporate news has strengthened investor confidence, pushing U.S. markets firmly into record territory.

Vigils Held Nationwide to Honor Charlie Kirk

Hadisur Rahman, JadeTimes Staff

H. Rahman is a Jadetimes news reporter covering the USA

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Image Source: Chet Strange/Getty Images

Across the United States, communities gathered this week to honor the life and legacy of conservative activist Charlie Kirk, following his sudden and unexpected passing. Vigils were held in multiple cities, bringing together supporters, colleagues, and members of the public to pay tribute, light candles, and share memories of his work in political activism.

Attendees at the gatherings expressed deep sorrow over the loss, while reflecting on Kirk’s influence in shaping political engagement among young people. Many shared personal stories of inspiration, highlighting the ways his efforts motivated them to participate more actively in civic and political life. The vigils served as a space not only for mourning but also for celebrating Kirk’s accomplishments and the causes he championed.

Organizers emphasized the importance of remembering Kirk’s contributions and ensuring that his vision continues to inspire future generations. Speeches and moments of silence were key parts of the ceremonies, providing attendees an opportunity to reflect on his impact and reaffirm their commitment to civic involvement. Participants also noted the strong sense of community that emerged during the events, with many expressing that coming together was a meaningful way to honor Kirk’s legacy.

While grief was a common theme, many attendees focused on the values Kirk advocated, including leadership, political engagement, and dedication to causes they believe in. Supporters stressed that the vigils were not only a chance to commemorate his life but also a call to action for continued activism and involvement in the public sphere.

As communities across the nation continue to remember Kirk, the gatherings underscored the profound influence one individual can have on political movements and the lives of countless young people. Through these vigils, supporters are ensuring that his work and vision remain a source of inspiration for years to come.

Nepal Honors Gen-Z Protest Martyrs with State Funeral

Hadisur Rahman, JadeTimes Staff

H. Rahman is a Jadetimes news reporter covering Asia

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Image Source: THE KATHMANDU POST

A sweeping U.S. immigration enforcement operation at a Hyundai-LG joint venture plant in Georgia has triggered diplomatic tensions with South Korea, where officials are demanding better protections for their citizens and clearer visa arrangements.

On September 4, federal agents detained nearly 475 workers at an electric vehicle battery plant under construction in Bryan County, Georgia. Among them were more than 300 South Koreans, many of whom are alleged to have been working without valid immigration documentation or on expired visas. The operation has been described by U.S. authorities as one of the largest work-site raids in recent history, aimed at enforcing immigration laws in sectors with rising enforcement activity.

The detentions provoked strong reactions in Seoul, including public outrage over reports that some workers were shackled during transit, handcuffed, or restrained with plastic ties. One issue of contention was whether the detained workers should be physically restrained while being moved, and whether their departure from the U.S. would be handled as voluntary or mandatory. The South Korean government objected to what it saw as degrading treatment and called for assurances that its citizens be treated fairly and humanely.

Negotiations between South Korean and U.S. officials moved quickly in the aftermath. The U.S. offered the detained workers the option to stay rather than be expelled. South Korea insisted on protections for its nationals, and eventually, most of them over three hundred agreed to return under a chartered flight once administrative procedures were handled. Only a very small number chose to remain in the U.S., citing family or other personal ties.

President Lee Jae Myung of South Korea publicly criticized the U.S. visa system, warning that foreign investors may become more reluctant to build factories in America if there is risk of such enforcement actions. He emphasized that many foreign companies employ specialist technical workers from abroad for short periods to install or maintain complex equipment, and that visa uncertainties make planning difficult. The raid, he said, could deter future investment and undermine trust between the two allied countries.

From the U.S. side, the Trump administration defended the raid as a necessary enforcement of immigration laws, noting that violations included working without authorization and overstaying visas. At the same time, U.S. leaders expressed interest in ensuring that foreign talent could legally contribute to U.S. manufacturing projects, especially in high-tech sectors such as batteries and electric vehicles. There were signals of willingness to calibrate enforcement with the needs of industry, including discussions about improved visa options.

Corporate leaders also expressed concern about the impact. The plant’s startup is expected to be delayed, in part because of the disruptions caused by the detentions, administrative complications, and potential reputational damage. Hyundai and LG, both heavily invested in the U.S. through this project, faced pressure to respond to worker welfare concerns, compliance with immigration laws, and the diplomatic fallout.

As both governments assess the aftermath, several issues remain unresolved: how to balance enforcement with attracting skilled foreign labor; how to overhaul or clarify the U.S. visa regime to prevent similar incidents; and how to rebuild trust so that foreign companies feel secure investing in large industrial projects in the United States. The Georgia raid has become a flashpoint for broader debates about immigration policy, economic competitiveness, and the treatment of foreign workers in the U.S.