By declaring a trade war on the rest of the world, President Donald Trump has panicked global financial markets, raised the risk of a recession and broken the political and economic alliances that made much of the world stable for business after World War II.

Trump's latest round of tariffs went into full effect at midnight Wednesday, with higher import tax rates on dozens of countries and territories taking hold.

Asian and European shares slid on Wednesday, with Japan's Nikkei 225 dipping more than 5%, as the latest set of U.S. tariffs including a massive 104% levy on Chinese imports took effect.

The Nikkei 225 lost 3.9% to 31,714.03. In Hong Kong, the Hang Seng lost 0.4% to 20,041.03, while the Shanghai Composite index reversed early losses, gaining 0.9%. to 3,173.56. Taiwan led losses in Asia, as its Taiex plunged 5.8%.

Israeli Prime Minister Benjamin Netanyahu traveled to Washington for a hastily organized White House visit bringing a long list of concerns: Iran's nuclear program. President Donald Trump's tariffs. The surging influence of rival Turkey in Syria. And the 18-month war in Gaza.

Netanyahu appeared to leave Monday's meeting largely empty-handed — a stark contrast with his triumphant visit two months ago. During an hourlong Oval Office appearance, Trump appeared to slap down, contradict or complicate each of Netanyahu's policy prerogatives.

Suspected U.S. airstrikes pounded the area around Yemen's Red Sea port city of Hodeida on Tuesday night, killing at least eight people, the Iran-backed Houthi rebels said.

The strikes hit around Hodeida's al-Hawak district, the rebels said, and wounded 16 people. The area is home to the city's airport, which the rebels have used in the past to target shipping in the Red Sea.

Indonesia plans to clear forests about the size of Belgium to produce sugarcane-derived bioethanol, rice and other food crops, potentially displacing Indigenous groups who rely on the land to survive.

Local communities say they're already experiencing harm from the government-backed project, which environmental watchdogs say is the largest current planned deforestation operation in the world.

Paris Saint-Germain coach Luis Enrique shrugged off talk of his side being the favorite against Aston Villa ahead of their Champions League quarterfinal on Wednesday.

While PSG has been a regular in the last eight since cash-rich Qatari investor QSI bought the club 14 years ago, and reached the semifinals last season, Villa has not been in this stage of the competition since 1983.

Three genetically engineered wolves that may resemble extinct dire wolves are trotting, sleeping and howling in an undisclosed secure location in the U.S., according to the company that aims to bring back lost species.

The wolf pups, which range in age from three to six months old, have long white hair, muscular jaws and already weigh in at around 80 pounds — on track to reach 140 pounds at maturity, researchers at Colossal Biosciences reported Monday.

Three years after flying into the Cannes Film Festival with "Top Gun: Maverick," Tom Cruise is returning to the Croisette with "Mission: Impossible — Final Reckoning."

Organizers of the French festival announced Tuesday that "Final Reckoning," will screen out of competition at the 78th edition Cannes on May 14, ahead of the film's May 23 release in theaters. Cruise, writer-director Christopher McQuarrie and the cast will attend the screening at the Palais des Festivals.

Iran 's foreign minister said Tuesday he'll meet with U.S. envoy Steve Witkoff in Oman for the first negotiations under the Trump administration seeking to halt Tehran's rapidly advancing nuclear program as tensions remain high in the Middle East.

Speaking to Iranian state television from Algeria, Abbas Araghchi maintained the talks would be indirect, likely with Omani mediators shuttling between the parties. U.S. President Donald Trump, in announcing the negotiations on Monday, described them as direct talks.

The Ukrainian military has captured two Chinese men fighting alongside the Russian army in the eastern Donetsk region and has information that "significantly more" are with Russian forces, Ukraine's President Volodymyr Zelensky announced Tuesday.

There was no immediate comment from China. Beijing is not known to have provided Russia with weapons or military expertise, and it was not clear whether the Chinese had joined the fight on their own initiative. Russia allows foreigners to enlist in its military, as does Ukraine.