Gold rose and the dollar fell on Monday as global markets opened for the first time since the U.S. Supreme Court struck down Donald Trump鈥檚 tariffs on Friday. Trading opened down on some European bourses and futures trended lower ahead of trading on U.S. markets after the American president imposed a new 15% tariff across the board on Saturday. The dollar weakened by as much as 0.5% against other leading currencies. Mr. Trump rested his new tariff plan on the 1974 Trade Act, which provides authority for up to 150 days. He will need approval from Congress to extend them beyond that.
The Hong Kong Court of Appeal upheld聽the convictions and sentences of 12 activists jailed under a broad national security law imposed by Beijing following 2019 pro-democracy protests. The Monday verdict stems from a 2024 case that put 47 people on trial for organizing an unofficial primary election in 2020 in a bid to secure a legislative majority. The defendants, who included elected lawmakers, academics, and unionists, sought veto power to demand universal voting rights and greater police accountability. The court characterized the bid as a 鈥渃onstitutional weapon of mass destruction.鈥 International rights groups condemned the ruling.聽
The escape of ISIS affiliates聽is testing Syria鈥檚 government, headed by former jihadist Ahmed al-Sharaa. As reported in a Jan. 23 Monitor article, the al-Hol detention camp 鈥 home to several thousand wives and teenaged children of ISIS fighters 鈥 was briefly left unattended as Kurdish forces withdrew and the Syrian government took control. A Wall Street Journal exclusive this weekend reported that at least 15,000 people, some from ISIS, are now at large. Meanwhile, the State Department notified Congress that it intends to begin spending this week on a plan to potentially reopen the U.S. embassy in Syria, which shuttered in 2012.
Russia鈥檚 Northern Fleet conducted live-fire artillery exercises three to four nautical miles from Norway鈥檚 territorial waters on Feb. 17 and 18, the Barents Observer reported. A Norwegian researcher told the outlet that the Russian exercises were 鈥減art of a broader pattern of strategic signaling鈥 to show Russia鈥檚 capabilities and see how NATO would respond. Next month 25,000 soldiers from 14 NATO countries will practice defending the alliance鈥檚 northern-most countries 鈥 Norway and Finland 鈥 in a joint military exercise dubbed Cold Response.
Senators have summoned the Fed鈥檚 vice chair for supervision for a hearing Thursday to scrutinize the Trump administration鈥檚 oversight of banks. Sen. Elizabeth Warren, the top Democrat on the committee, wrote a Feb. 18 letter that Mr. Trump鈥檚 bank deregulation during his first term contributed to the second, third, and fourth largest bank failures in U.S. history. The Massachusetts senator said she was concerned that a new review ordered by the Federal Reserve鈥檚 vice chair, Michelle Bowman, was designed to shift blame away from her and Mr. Trump鈥檚 decisions to 鈥渨eaken bank oversight.鈥
U.S. Olympic hockey players included their late teammate Johnny Gaudreau in the 2-1 overtime victory against Canada by bringing his 3-year-old daughter Noa and 2-year-old son Johnny Jr. out on the ice for a team photo. Mr. Gaudreau and his brother were killed in an alleged drunk driving accident in 2024, the Athletic reported. 鈥淲e talked about playing for him, making him proud and I think we did that,鈥 said Columbus Blue Jackets captain Zach Werenski.
鈥 Compiled by Monitor writers around the globe