Global trade tensions have resurfaced, disrupting shipping routes and increasing freight costs as the United States and China exchange new tariffs and export restrictions. The situation has led to port congestion, vessel delays, and losses for major shipbuilders, while insurers and logistics hubs brace for further strain.

This week’s market performance offered a mixed picture across asset classes.

France has suffered a surprise blow to its financial credibility after S&P Global Ratings downgraded the nation’s sovereign credit rating from AA- to A+, citing rising political uncertainty and concerns over fiscal discipline. The move, announced unexpectedly late Thursday, caught investors off guard, as S&P typically schedules rating reviews in advance.