The US dollar has had its worst first half-year in more than 50 years, as the financial markets over the last six months were dominated by geopolitical crises and Donald Trump’s trade war.

The dollar has fallen by 10.8% against a basket of currencies since the start of 2025. That is its worst performance over the first six months of any year since 1973, and the worst half-year since the second half of 1991.

This sell-off has pulled the dollar index down to its lowest level since March 2022 and lifted the pound to a three-year high of $1.37, up from $1.25 at the start of the year.

Investors have been selling the US currency due to concerns that Trump’s economic policies threaten the safe-haven role of US dollar-denominated assets, with economists predicting that the president’s “big beautiful” budget bill will drive the US national debt even higher.

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Throughout the 20th and the first quarter of the 21st centuries, the US became a world leader in science, technology, healthcare, and education by investing in scientific research.

In 2025, that is rapidly changing, as unprecedented federal cuts, the defunding and closing of many institutions, and devastatingly reduced budgets present an extinction-level event for American science.

Just as the exodus of scientists and scientific projects from Nazi Germany became known as “Hitler’s gift” to the rest of the world, the actions of the US today seem similarly poised to reward the rest of the world. Here’s an insideMore...r’s view into what’s happening.

From World War II until 2024, the US stood unchallenged as the scientific leader of the free world. Across practically every discipline — physics, materials science, astronomy, chemistry, biology, medicine, geology, etc. — American scientific missions and initiatives, often in collaboration with European, Canadian, Asian, and many other global partners, brought us new advances and breakthroughs, paving the way for generations of scientists to thrive.

In a society that values facts, scientific truths, education, and the public good, this recipe led to multiple generations of continued breakthroughs and advances.

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Months worth of heavy rain fell in a matter of hours on Texas Hill Country, leaving at least 13 people dead and many more unaccounted for Friday, including about 20 girls attending a summer camp, as search teams conducted boat and helicopter rescues in fast-moving floodwaters.

Desperate pleas peppered social media as loved ones sought any information about people caught in the flood zone. At least 10 inches (25 centimeters) of rain poured down overnight in central Kerr County, causing flash flooding of the Guadalupe River.

Authorities stressed that the situation was still developing and that the death toll could change, with rescue operations ongoing for an unspecified number missing. Lt. Gov. Dan Patrick said six to 10 bodies had been found so far. Around the same time, Kerr County Sheriff Larry Leitha reported that 13 people had died in the flooding.

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The Pentagon’s decision to halt some weapons shipments to Ukraine blindsided even people who are usually closely briefed on such matters, including members of Congress, State Department officials and key European allies, according to six people familiar with the situation.

The surprise move on Monday has fueled concern and frustration, including among top Republicans, that one senior Pentagon official appeared to hold outsized influence over the deciHegsetsion.

They noted that the decision to halt the weapons shipments to Ukraine seemed to be made with little coordination within the administration after massive cuts to the National Security Council shrank the once-powerful policy body to a fraction of its former size.

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Kilmar Abrego Garcia, who was deported mistakenly from the U.S. to El Salvador in March, says he was brutally beaten and subjected to psychological torture while held in one of the Central American country's most notorious prisons.

A document filed Wednesday in federal district court in Maryland says Garcia was "subjected to severe mistreatment" when he arrived at CECOT, a mega-prison located in Tecoluca, El Salvador. The court document says Abrego Garcia's treatment included "severe beatings, severe sleep deprivation, inadequate nutrition, and psychological torture."

Abrego Garcia's lawyers shared the details about his treatment in CECOT in order to argue to a judge that he should not be deported to El Salvador, or any other country that could end up sending him there, "without prior notice and opportunity to be heard."

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A fast-moving wildfire in central California became the largest in the state this year after exploding in size overnight as hot temperatures and dry conditions increased the wildfire risk ahead of the Fourth of July holiday.

The Madre Fire broke out on the afternoon of July 2 in a remote area of central California near Highway 166, according to Cal Fire. The fire rapidly spread to over 35,000 acres overnight as it burned through grasslands in a section of the Los Padres National Park.

By 5 p.m. PT on July 3, the fire grew to more than 52,000 acres and was only 5% contained, according to Cal Fire data. Evacuation orders and warnings were issued for small communities near Highway 166 as the fire moved toward the Carrizo Plain National Monument, about 69 miles southeast of San Luis Obispo, California.

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Israel has escalated its offensive in Gaza before imminent talks about a ceasefire, with warships and artillery launching one of the deadliest and most intense bombardments in the devastated Palestinian territory for many months.

Medics and officials in Gaza reported that about 90 people were killed overnight and on Thursday, including many women and children. On Tuesday night and Wednesday the toll was higher, they said. Casualties included Marwan al-Sultan, a cardiologist and director of the Indonesian hospital in northern Gaza, who died in an airstrike that also killed his wife and five children.

In all, about 300 people may have been killed this week and thousands more injured, according to the officials.

Despite the new wave of violence in Gaza, hopes of a ceasefire have risen after Donald Trump’s announcement on Tuesday that Israel had accepted the terms of a potential deal with Hamas. The deal would involve a 60-day initial pause in hostilities, a part withdrawal of Israeli forces from Gaza, and the release of some of the hostages still held by Hamas.

Israel’s security cabinet was scheduled to meet on Thursday night to decide whether to move swiftly towards an agreement with Hamas or order further military escalation.

Benjamin Netanyahu, Israel’s prime minister, is due to fly on Sunday to Washington for talks with Trump and senior US officials. They are expected to discuss a ceasefire, the recent war between Israel and Iran, and possibilities for ambitious regional agreements.

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