crashes

SANTO DOMINGO, Dominican Republic — A pilot and co-pilot from the United States have died in a fiery plane crash as they attempted an emergency landing in the Dominican Republic, authorities said.

The incident occurred Sunday near the southern coastal town of La Romana, according to a statement by the Dominican Institute of Civil Aviation, which identified the pilot and co-pilot as U.S. citizens. It wasn’t immediately known what caused the crash. No passengers were aboard.

Major League Baseball All-Star former catcher Yadier Molina said on social media that the plane was bound for Texas to pick him up, along with family and friends.

“My condolences to the pilots and their family!” he wrote. Molina and his group were headed to Puerto Rico.

Officials said the plane had departed from Puerto Rico and landed in the Dominican Republic to refuel before heading to Texas.

The pilot and co-pilot reported an emergency shortly after taking off from the Dominican Republic, authorities said.

South Korean stocks nosedived more than 8 percent Monday, extending their losing streak to a third consecutive session, as investors dumped market heavyweights on renewed woes over artificial intelligence (AI) profitability and concerns over a possible hawkish pivot of the U.S. Federal Reserve.

The local currency rose against the U.S. dollar after opening at a 17-year low, in the face of verbal intervention by financial authorities.

The benchmark Korea Composite Stock Price Index (KOSPI) plunged 676.18 points, or 8.29 percent, to close at 7,484.41, after falling as low as 7,442.73. The secondary KOSDAQ index sank more than 9 percent to end at 911.39.

The KOSPI’s trade volume was heavy at 448.3 million shares worth 47.8 trillion won (US$31.2 billion), with losers sharply outnumbering winners 873 to 42. Foreigners and institutions dumped local shares worth 355.5 billion won and 1.6 trillion won, respectively, while retail investors scooped up 1.76 trillion won.

The Monday crash was largely anticipated on sharp losses on Wall Street last week, fueled by semiconductor shares’ biggest daily percentage drop since March 2020 and fears over a possible rate hike by the Fed sparked by a hotter-than-expected U.S. jobs report for May.

The Dow Jones Industrial Average closed 1.35 percent lower Friday (local time), while the S&P 500 dipped 2.64 percent and the tech-heavy Nasdaq composite slid 4.18 percent.

Major U.S. chip shares sharply lost ground, with Nvidia slumping 6.2 percent, Broadcom contracting 7.92 percent and Micron shooting down 13.25 percent.

The Korea Exchange (KRX) had activated a circuit breaker for the KOSPI about three minutes after opening, halting trading for 20 minutes, and implemented a consecutive sell-side sidecar at around 9:34 a.m.

The KRX had also issued a sell-side sidecar for the secondary KOSDAQ market about six minutes after opening, suspending trading for five minutes, and activated a circuit breaker for the index later in the day after the KOSDAQ fell by more than 8 percent.

“Today’s pullback appears to be driven not by the weakening of market fundamentals, but by profit-taking sentiment among investors, mainly targeted at the semiconductor sector, as the market reacted more sensitively to negative developments after an extended rally of chip shares,” a report by Samsung Securities said.

The KOSPI has been one of the best performing stock indexes across the world in recent months, surging to near the unprecedented 9,000-point mark on Tuesday last week from the 5,000-point level earlier this year, mainly driven by major semiconductor shares, including Samsung Electronics and SK hynix.

“There is a lot at stake in this week’s financial market, with U.S. inflation data, treasury yields and the ongoing debate over the sustainability of AI-related investment all unfolding simultaneously,” said Seo Sang-young, an analyst at Mirae Asset Securities.

Han Ji-young, a researcher at Kiwoom Securities, also anticipated a “challenging” week for the KOSPI, noting that the release of the U.S. Consumer Price Index for May, the SpaceX listing and Oracle’s earnings results planned for this week may weigh on the market.

Market analysts also said news that Iran and Israel traded strikes dampened investors’ risk appetite, dimming hopes for peace in the Middle East.

Market top-cap Samsung Electronics slid 10.18 percent to 295,500 won, while its chipmaking rival SK hynix dipped 7.68 percent to 1.91 million won.

AI investment firm SK Square nosedived 11.13 percent to 1.12 million won.

Samsung Life Insurance lost 8.97 percent to 375,500 won, and Samsung C&T plunged 11.29 percent to 408,500 won.

Top automaker Hyundai Motor plummeted 8.71 percent to 639,000 won, and its auto parts making affiliate Hyundai Mobis shot down 12.2 percent to 612,000 won.

Leading battery maker LG Energy Solution pulled back 6.16 percent, and its smaller rival Samsung SDI sank 11.44 percent.

Home appliances maker LG Electronics slipped 11.55 percent to 268,000 won, while power plant manufacturer Doosan Enerbility shed 10.25 percent to 85,800 won.

Internet portal operator Naver was among the few winners, jumping 9.2 percent on news that the company is conducting a joint project with U.S. AI chip giant Nvidia to build a massive global AI factory and the nomination of Han Seong-sook, former chief executive officer (CEO) of Naver and incumbent minister of small and medium-sized enterprises (SMEs), as South Korea’s new prime minister.

SK Networks surged 30 percent to 14,170 won on SK Group and Nvidia’s announcement of a broader partnership for AI infrastructure.

The Korean won was quoted at 1,535.0 won against the U.S. dollar at 3:30 p.m., up 4.1 won from the previous session, after opening at 1,555.2 won, the lowest mark since March 6, 2009, when the global markets were in a financial crisis.

The local currency turned higher after financial authorities vowed stern action against excessive volatility and one-sided movements in the foreign exchange market.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys added 5.8 basis points to 3.940 percent, and the return on the benchmark five-year government bonds gained 7 basis points to 4.190 percent.

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Romania and its NATO allies have reacted angrily after a Russian drone crashed into an apartment building in eastern Romania, injuring two people.

The foreign ministry in Bucharest on Friday labelled the crash of the drone, part of an overnight attack aimed at Ukraine, a serious violation of international law and called on NATO to accelerate the transfer of anti-drone capabilities. The incident is just the latest incursion along the alliance’s eastern flank, raising concern that the risk of an open confrontation between Russia and NATO states is rising.

Romania said the overnight drone was tracked by radar in its airspace before crashing onto the roof of a residential building in the city of Galati.

Two F-16 fighter jets and a helicopter were scrambled, as authorities issued emergency alerts to residents. Two people suffered minor injuries and several residents were evacuated after a fire was triggered by the crash.

‘Consequences’

The incident is just the latest of several, as the war in Ukraine has spilled over into neighbouring NATO countries, raising fears of potential escalation.

Estonia, Lithuania and Latvia, as well as Finland have all reported repeated incursions into their airspace in recent months. Drone incursions sparked a government collapse in Latvia earlier this month.

Shortly after the crash, Bucharest called for NATO to speed up the transfer of anti-drone capabilities. Outgoing Prime Minister Ilie Bolojan also said that Romania would, within hours, sign ⁠a contract which ⁠will give it anti-drone defences ‌under the EU’S SAFE programme.

On Friday morning, Romania summoned the Russia ambassador.

“We will officially communicate the consequences that this lack of responsibility on the part of the Russian Federation will have for the diplomatic relations between our countries, as well as the next steps at the European level regarding sanctions packages,” Foreign Minister Oana Toiu wrote on social media.

President Nicusor Dan stated that Romania ⁠will ⁠not accept that the war of aggression ⁠waged by Russia against ⁠Ukraine be transferred to its citizens, and added that he had asked the foreign ministry ⁠to present without delay ⁠a series ⁠of measures regarding the country’s relationship with Russia, “proportionate to ‌this very serious situation”.

NATO allies and others joined the chorus of anger.

French Minister for European Affairs Benjamin Haddad said the incident highlighted the threat Russia poses to European security, noting that French troops are stationed in Romania.

“Regardless of ⁠whether it was on purpose ⁠or the ⁠result ⁠of ineptitude, Russia is still dangerous and ‌we must defend ourselves against ‌it,” ‌Polish ⁠Foreign Minister Radoslaw Sikorski told ⁠the Reuters news agency.

European Commission President Ursula von der Leyen said the incident showed that “Russia’s war of aggression has crossed yet another line”.

A NATO spokesperson also condemned “Russia’s recklessness” on social media.

Ukraine’s Foreign Minister Andrii Sybiha, whose country is pressing the United States to help boost its air defences, pledged “Ukraine stands firmly by Romania” as he branded Russia a threat to the Black Sea region and the wider ‌European continent.

“We are ready ⁠to work closely together ⁠to strengthen protection from such threats,” he wrote on social media, adding that the bid to ⁠strengthen Ukraine’s ⁠air defence is a “strategic task” to protect not only ‌Ukraine but also to reduce risks for ‌neighbouring ‌countries.

United Nations Secretary-General Antonio Guterres warned that the escalating attacks risk spiralling “out of control”, with “unknown and unintended consequences”.

He said more civilians had been killed in the first four months of this year than during the same period in the previous three years, and called for diplomacy, immediate de-escalation and “a full and unconditional ceasefire”.

Rising risk

Concern that the war is threatening to spillover is building as Russia escalates hostilities in a bid to ward off rising political and economic pressure at home.

Ukrainian forces reported that they shot down 217 drones overnight on Friday. Russia attacked with 232 drones and one ballistic missile. Hits were recorded in 14 areas, the air force said.

Moscow has said it plans “systematic strikes” on Kyiv and has issued a barrage of threats at Ukraine’s European allies, listing facilities in Europe that it said are involved in manufacturing drones and components for Ukraine.

Moscow’s Foreign Intelligence Service recently warned the Baltic nations that their NATO membership won’t protect them from retaliation should they allow Ukraine to launch attacks from their territory, with analysts warning that the risk of an open confrontation between Russia and NATO states is rising.

That heightens concern regarding NATO’s Article 5 collective defence clause, which President Donald Trump has hinted the United States may not honour in some cases.

However, the alliance’s Secretary General Mark Rutte insisted on Friday that NATO will defend all of its territory.

“Russia’s reckless behaviour is a danger to us all,” he wrote on social media. “Last ⁠night showed yet again ⁠that the implications of their illegal war of aggression don’t ⁠stop at the border.”

“We will ⁠continue to strengthen ⁠our deterrence and defence at home and continue our support for ‌Ukraine as they defend against Russia’s aggression,” he ‌added.

Look, up in the stands — it’s J.K. Simmons and your friendly neighborhood Spider-Man!

The Academy Award-winning actor, who portrayed Daily Bugle chief J. Jonah Jameson in director Sam Raimi’s “Spider-Man” trilogy, was reunited with his onscreen nemesis at the New York Mets game Tuesday.

After a clip from “Spider-Man” was shown on the stadium screen at Citi Field during the Mets game against the Cincinnati Reds, the camera cut to Simmons in the stands. In the row behind him was Jameson’s favorite masked menace, reading a copy of the Daily Bugle.

The “Whiplash” actor played along with the bit, turning around to face Spider-Man and waving his arms to express his displeasure. Channeling his inner Jameson, a spirited Simmons then motioned for Spider-Man to get tossed from the game. Photos and videos of the moment have been shared across social media.

(A devoted Detroit Tigers fan, Simmons repped his favorite team under the Mets jersey he wore at the game.)

After playing Jameson in Raimi’s “Spider-Man” trilogy that wrapped in 2007, Simmons returned to the role for a mid-credits cameo in the 2019 film “Spider-Man: Far From Home” when the vocal Spider-Man critic revealed the hero’s identity to the world. Simmons’ incarnation of the character has since appeared in “Venom: Let There Be Carnage” (2021), “Spider-Man: No Way Home” (2021) and “Spider-Man: Across the Spider-Verse” (2023).

The next installment of the webslinging superhero’s adventures is “Spider-Man: Brand New Day,” which hits theaters July 31. Simmons’ involvement has not officially been confirmed.

US Air Force footage showed the rescue of 11 people after a private plane from the Bahamas crashed into the Atlantic Ocean off Florida. Survivors were found in a life raft as a storm approached and were airlifted to hospital.

A small plane carrying five people crashed into a residential building in Belo Horizonte, Brazil, shortly after takeoff, killing three and leaving two others hospitalised. The aircraft went down minutes after departing Pampulha Airport, with no injuries reported among residents on the ground.