Dec 17 Global Financial Headlines: Tesla Hits Record High, US Threatens Retaliation Over EU Digital Tax, and Expanded Travel Restrictions

Deep News12-17 05:51

Key global financial headlines from overnight and this morning include:

1. **US Threatens Retaliation Over EU Digital Services Tax, May Launch Section 301 Probe** The Trump administration has warned of retaliatory measures against the EU’s digital services tax plan, targeting major firms like Accenture, Siemens, and Spotify. The US Trade Representative (USTR) stated that if the EU persists with "discriminatory measures" against US service providers, the US will resort to countermeasures, including fees or restrictions on foreign service providers under US law.

2. **Trump Administration Expands US Entry Restrictions for Foreign Nationals** President Trump has signed a proclamation further restricting entry for citizens from Mali, Niger, Syria, Burkina Faso, and South Sudan. The US also imposed full travel bans on holders of Palestinian Authority-issued travel documents, as well as citizens of Laos and Sierra Leone.

3. **Tesla Shares Hit All-Time High Amid Rising Optimism Over Autonomous Driving** Tesla Motors (TSLA) surged 3.1% to a record closing high of $489.88, marking a 21% year-to-date gain. The rebound follows a 36% Q1 drop—its worst quarterly performance since 2022. The stock surpassed its previous intraday peak of $488.54 (set nearly a year ago) and its prior closing high of $479.86.

4. **VP Vance Jokes About Conspiracy Theories with White House Chief of Staff Wells** US Vice President Vance revealed he has long joked with White House Chief of Staff Susie Wells about conspiracy theories. His comments came in response to a Vanity Fair interview where Wells reportedly called him a "conspiracy theorist." Vance advised reducing engagement with mainstream media.

5. **Citadel’s Griffin Says GOP Policies Are Fueling Inflation** Citadel founder Ken Griffin criticized Republican policies on tariffs and immigration for exacerbating inflation, though he noted deregulation could eventually help curb price rises. He highlighted that restricting illegal immigration reduces labor supply, which is inflationary.

6. **US Crude Prices Plunge to Early-2021 Lows Amid Oversupply Concerns** WTI crude fell nearly 3% to $55.27/barrel—its lowest since February 2021—due to oversupply risks and potential Ukraine peace talks. Brent crude dropped 2.71% to $58.92/barrel.

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