The S&P 500 advances to the correction area following the Nasdaq

After the sale on Thursday, the S&P 500 joined the Nasdaq Composite in the correction area. This is usually thought to mean a decrease of over 10% from the recent high.

In fact, investors looking to distract themselves with drinks may feel even more painful. US President Donald Trump has threatened to impose a 200% tariff on alcohol products from the European Union in response to the latter lifting the previous halt of taxation on American whiskey.

As Trump continues to resort to tariffs despite a three-week market defeat, glasses of champagne from France may lose some of its effervescent quality and take bitter notes.

Highlights of CNBC’s Converge Live
CNBC hosted Converge Live in Singapore on Wednesday and Thursday. In the highlights of the second day, British Prime Minister David Cameron said Trump’s approach to peace in Ukraine is “very worried” for his Russian neighbors. Here we catch up with the action on the second day.

Trump threatens retaliation for tariffs
US President Donald Trump said Thursday he plans to place 200% tariffs on alcohol from France and other European countries. This corresponds to the European Union’s reinstatement of import taxes on American whiskey. This is some of the products that have been hit hardest by EU tariffs, along with California Almonds and rearview mirrors in Michigan. At an oval office meeting on Thursday, Trump said he “doesn’t bending at all” about the tariffs.

S&P 500 slides to fix
The US market ended in red on Thursday. S&P 500 It’s down 1.39%, with a record 10.1% off, and is placed in the correction area. Dow Jones Industrial Average Losing 1.3% and went down for the fourth day in a row Nasdaq Composite A 1.96% decrease. In contrast, Asia-Pacific shares rose mostly on Friday. China’s CSI 300 jumped over 2%, with Australian mining stocks rising behind the gold price, reaching record highs.

Flat PPI, but not all good news
The US producer price index was flat in February, with the Bureau of Labor Statistics’ seasonally adjusted figures presented Thursday, showing that it was lower than the expected 0.3% increase in Dow Jones’ survey. Core PPI has declined by 0.1%, also against estimates of 0.3% increase since July and initial negative measurements. But the February muted consumer and producer price report may not necessarily be good news for the US Federal Reserve.

Russia’s calm response to the ceasefire contract
Moscow has in principle agreed to a US-led ceasefire plan backed by Ukraine earlier this week, but “but there are issues that need to be discussed,” Russian President Vladimir Putin said Thursday. A US delegation led by Trump envoy Steve Witkov arrived in Russia on Thursday for a ceasefire talks. Previous indications from Russian officials suggested that the country was hesitant to do the deal.

(Pro) fear that recession will not be held responsible: JPMorgan
Marketwatchers cite fears about the US economic recession as a catalyst for this week’s stock run. JP Morgan believes that something else could be the culprit. And if the bank is rated correctly, there may be a silver lining in its current selling.

Robots, drones, AI: How next-generation technologies are changing the global supply chain

In a world where speed and convenience are of paramount importance to customers, logistics companies are turning to emerging technologies such as artificial intelligence and robotics to stay competitive.

According to Javier Bilbao Uzquiano, CEO of DHL Supply Chain, multinational logistics company DHL uses it “very extensively” throughout its warehouse.

Talabat, a Dubai-based online food ordering service, is also working on developing AI features. The company is primarily focused on using the predictive capabilities of technology to persuade more customers to order on the platform, Tomaso Rodriguez, the company’s CEO, said Thursday at Converge Live, a two-day CNBC event at Jewel Changi Airport in Singapore.