"This is the worst downturn since 2013 or 2014," Shajak Sengupta, a senior research associate at Columbia University's Center on Global Energy Policy, told Newsweek.

The Donald Trump administration is continuing with its criticism of India's crude oil trade with Russia.

White House Press Secretary Karoline Leavitt stated that Trump has put “tremendous public pressure to bring this war to a close” and wants to see the war end.

Home Depot affirmed its full-year growth outlook for adjusted earnings per share to decline approximately 2%, for total sales to increase by about 2.8% and for comparable-sales growth of about 1%. Home Depot expects to open approximately 13 new stores during the year, in line with its prior guidance.

Home improvement retailer The Home Depot has recorded $45.3bn sales for the second quarter (Q2) of fiscal 2025 - a 4.9% rise from the previous year.

As homeowners opt to stay put longer, spending has shifted toward smaller repair projects and maintenance, dampening sales of big-ticket renovation products.

But the prices of hair extensions and hair glues used to create wigs and weaves have gone up exponentially after President Donald Trump imposed a series of different tariffs on China and Vietnam, where the majority of Black beauty products are made.