A sticker bearing the Royal Thai Police emblem that the impersonator provided to the German man, claiming it would prevent any police searches.
PATTAYA — A 77-year-old German national has filed a police complaint after allegedly being extorted by a Thai man who posed as a police officer and demanded “protection money” in exchange for worthless police stickers.
Mr. Udo, who lives with his Thai girlfriend in Pattaya, reported the incident to Bang Lamung Police Station shortly before midnight on April 10. According to his statement, a man claiming to be a detective demanded 8,000 baht in “protection fees” at his home in Na Kluea area of Bang Lamung district.
The German identified the suspect as “Mr. M,” a 34-year-old man dressed like a plainclothes officer. The suspect allegedly threatened that Mr. Udo’s girlfriend would be arrested for drug use unless he paid for protection. After receiving payment, the impersonator provided stickers bearing the Royal Thai Police emblem to place on the house, claiming this would prevent any police searches.
A 77-year-old German national files a police complaint after allegedly being extorted by a Thai man who posed as a police officer, at Banglamung Police Station on April 10, 2025.
“I was very frightened, so I believed him and gave him the money,” said Mr. Udo. Later, his girlfriend’s son saw identical stickers being sold at a local fair for just a few baht each. After discussing the situation with family members, they suspected fraud and decided to contact authorities.
Following the report, police brought Mr. M Binthai in for questioning. The suspect denied impersonating a police officer, claiming he merely played football with police officers regularly and thus had uniforms and logos. He insisted the money was simply payment for keeping troublesome teenagers away from the victim’s home.
Police captured the suspect, M Binthai, who initially denied impersonating a police officer despite being found with a police uniform.
Bang Lamung investigators initially found the explanation unconvincing but lacked sufficient evidence for immediate charges. They recorded the suspect’s information and released him while continuing to gather evidence.
Later on April 11, after collecting additional evidence, officials charged M Binthai with extortion, informed him of his legal rights, and proceeded to take him into custody at the Pattaya Provincial Court according to legal procedures.
The Suvarnabhumi Airport Tourist Police investigation team apprehended two Chinese suspects for in-flight theft on April 10, 2025 after receiving reports from Air Macau flight.
SUVARNABHUMI — The Suvarnabhumi Airport Tourist Police investigation team apprehended two Chinese suspects for in-flight theft. An American witness and several victims confirmed seeing the theft, with substantial evidence securing the case.
At 10:30 a.m. on April 10, Tourist Police at Suvarnabhumi Airport were notified by Air Macau staff on flight NX996 about a theft incident on the aircraft. They coordinated with Suvarnabhumi Airport security and airport police to investigate.
Upon arrival, they met Mr. Tang a 45-year-old Chinese national (from Macau) who was the victim. He informed police that while the plane was preparing to land at Suvarnabhumi Airport, he was alerted by Mr. Ruggles, a 67-year-old American witness seated nearby, who saw a bespectacled Chinese man searching through a black backpack in the overhead compartment during the flight.
The Suvarnabhumi Airport Tourist Police investigation team question two Chinese suspects for in-flight theft on April 10, 2025 after receiving reports from Air Macau flight.
Mr. Ruggles observed the suspect remove a plastic bag from the backpack. After the plane arrived at Suvarnabhumi Airport, it was discovered that the suspect was not the owner of the bag, but rather Tang was. Ruggles quickly advised Tang to check if his belongings were intact, and it was found that 30,000 Thai baht ($886) had disappeared from the bag. Tang then notified the airline staff onboard.
Airline staff investigated and identified Mr. Han, 54, and Mr. Wang 46, both Chinese nationals, behaving suspiciously. When Mr. Wang noticed the staff’s suspicion, he placed the 30,000 Thai baht in a plastic bag, threw it on the aircraft floor, and attempted to persuade airline staff not to inform the police.
Several other passengers also confirmed seeing both men get up from their seats to search through passengers’ belongings on the flight. Airline staff coordinated with Suvarnabhumi Tourist Police to inspect and detain both suspects, bringing them in for questioning at Division 3, Tourist Police Bureau 1, Suvarnabhumi Airport.
Multiple currency banknotes seized by police from two Chinese suspects displayed on a table at the Operations Center, Division 3, Tourist Police Bureau 1, on April 10, 2025.
Later, Miss Ding, a 29-year-old Chinese national who traveled on the same flight, reported to Tourist Police at Suvarnabhumi Airport that upon reaching her hotel, she discovered her bag had been tampered with and 50,000 baht in cash was missing. She immediately returned to Suvarnabhumi Airport to report to police.
During questioning, Miss Ding confirmed that one of the two suspects had been seated next to her on the flight. Police conducted a thorough search of the suspects and their belongings, eventually finding the missing 50,000 baht ($1,477) hidden on one of them. Additionally, they discovered various foreign currencies, believed to be stolen from victims on other flights. These items were seized for further investigation to identify additional victims. Both suspects denied all charges during the arrest.
Background checks revealed that both suspects were on a watchlist of individuals with high-risk behaviors for theft on aircraft, monitored by the Division 3, Tourist Police Bureau 1 investigation team.
The arresting officers charged both suspects with theft on public transport and recorded witness statements from passengers on the flight as evidence before proceeding to return all stolen property to the affected tourists.
A box of Nescafé Red Cup coffee displayed at a local coffee shop in Khon Kaen Province, April 10, 2025.
BANGKOK — A legal dispute between global food giant Nestlé and Quality Coffee Products Co., Ltd (QCP), led by the prominent Thai Mahagitsiri family, threatens to shake the 17 billion baht ($502 million) Nescafé coffee empire in Thailand.
The Minburi Civil Court issued an injunction against Nestlé, the sole owner of the Nescafé brand, prohibiting the company from manufacturing, outsourcing, distributing or importing instant coffee products under the Nescafé brand in Thailand since April 3, 2025.
Mahagitsiri Family’s Role in the Dispute
The injunction followed a lawsuit filed by Chalermchai Mahagitsiri, a major shareholder of QCP, after Nestlé decided to terminate the Nescafé production rights contract with QCP in 2021. This termination was later confirmed by an international arbitration tribunal and is legally effective from December 31, 2024.
From 1990 to 2024, Nescafé products were manufactured in Thailand by QCP, a 50/50 joint venture between Nestlé and the Mahagitsiri family, of which Prayudh Mahagitsiri was a shareholder.
Famous Thai celebrities serve as presenters in Nescafé advertisementsRetryClaude can make mistakes. Please double-check responses.
Under the joint venture, Nestlé retained full control over the management, production, distribution and marketing of Nescafé products. The production technology for Nescafé remains the intellectual property of Nestlé.
Nestlé’s Response to the Injunction
In a statement on April 9, Nestlé announced that it would take all necessary steps to resolve the matter. This includes filing an application to lift the injunction and submitting comprehensive documents to the Minburi Civil Court for review.
Nestlé emphasized its commitment to doing business sustainably in Thailand, where it has been selling its products for over 130 years and has invested more than 22.8 billion baht between 2018 and 2024.
“Nestlé continues to invest in Thailand for the benefit of consumers, employees, partner farmers, business and trading partners,” the statement said.
AP Photo
The company reaffirmed its authority over the management, production, distribution and marketing of Nescafé products and asserted that the technology used remains its intellectual property.
Government Monitoring Coffee Market
Wittayakorn Maneenet, director-general of the Domestic Trade Department, said on April 10 that officials are closely monitoring the retail coffee market, even though coffee is not on the Commerce Ministry’s price control list.
As a preventive measure for the benefit of consumers, the ministry has dispatched officials to check coffee supplies and prices at supermarkets, convenience stores and retail outlets. So far, they have found that the supply remains adequate and prices have not increased.
The authorities had held a meeting on April 8 with retailers, wholesalers and local shopping centers to assess stock levels, sales volumes and retail prices. Retailers and wholesalers confirmed that deliveries are continuing as normal, that there has been no drop in sales and that stock levels remain sufficient to meet demand. Retailers also reported no price increases.
Impact on Local Businesses
Suneevan Pochan, a coffee shop owner in downtown Khon Kaen located next to TOT Public Company Limited on Klang Muang Road, said that after hearing the news, she felt disheartened because her shop has been using Nescafé instant coffee to brew and sell to customers for more than 26 years. Customers have become accustomed to the smooth taste and aroma of this coffee brand.
Suneevan Pochan, a coffee shop owner in downtown Khon Kaen Province
“If Nescafé has to permanently stop production and sales, it will significantly impact our shop. We would not switch to brewing other coffee brands because they wouldn’t taste good to our customers. Instead, we would focus on selling traditional Thai coffee,” she said.
Suneevan expressed concern that during Nescafé’s production halt, wholesalers who still have this coffee brand in stock might take advantage of the situation by raising prices. If this happens, vendors who use this brand as their main ingredient will certainly be affected. She requests that the government help monitor the situation.
Market Outlook and Price Predictions
Around the same time, the Kasikorn Research Center published an analysis of the market for popular beverages, including coffee, cocoa and matcha, and predicted possible price increases in 2025 due to the persistently high cost of raw materials.
Prices for key ingredients such as cocoa and coffee remain high, while the cost of matcha continues to rise. As Thailand imports most of these ingredients, the overall price pressure is exacerbated by the high cost of milk, sugar/syrup, whipping cream, labor, retail space and equipment depreciation.
Rescue workers search for bodies at the Jet Set nightclub after its roof collapsed during a merengue concert in Santo Domingo, Dominican Republic, Thursday, April 10, 2025. (AP Photo/Matias Delacroix)
SANTO DOMINGO, Dominican Republic (AP) — The number of dead in a roof collapse at an iconic nightclub in the Dominican Republic surged to 218 on Thursday, an official said.
Juan Manuel Méndez, director of the Center of Emergency Operations, said crews at the scene were still looking for victims and potential survivors, although no one has been found alive since Tuesday afternoon.
“We’ve practically combed through ground zero,” he said, adding that there’s one very small area of rubble left that crews are focusing on. “This has been very difficult for us all.”
Doctors warned that some of the two dozen patients who remained hospitalized were still not in the clear, especially the eight who were in critical condition.
“If the trauma is too great, there’s not a lot of time” left to save patients in that condition, said Health Minister Víctor Atallah.
Rescue workers carry the recovered body of a victim who died when the roof collapsed two nights prior at the Jet Set nightclub during a merengue concert in Santo Domingo, Dominican Republic, Thursday, April 10, 2025. (AP Photo/Matias Delacroix)
He and other doctors said that injuries include fractures in the skull, femur and pelvis caused by slabs of cement falling on those attending a merengue concert at the Jet Set nightclub in Santo Domingo, where more than 200 were injured.
On Wednesday, dozens of people had anxiously searched for their loved ones, growing frustrated upon getting no answers after visiting hospitals and the country’s forensic institute. By Thursday, a lone family remained with no answers.
María Luisa Taveras told TV station Noticias SIN that she was still looking for her sister.
“We have gone everywhere they told us,” she said, her voice breaking.
Rescue workers search for bodies at the Jet Set nightclub after its roof collapsed during a merengue concert in Santo Domingo, Dominican Republic, Thursday, April 10, 2025. (AP Photo/Matias Delacroix)
Taveras said the family has spread out, with a relative stationed at each hospital and at the forensic institute.
The government said Wednesday night that it was moving to a recovery phase focused on finding bodies.
The legendary club was packed with musicians, professional athletes and government officials when dust began falling from the ceiling and into people’s drinks early Tuesday. Minutes later, the roof collapsed.
Victims include merengue icon Rubby Pérez, who had been singing to the crowd before the roof fell; former MLB players Octavio Dotel and Tony Enrique Blanco Cabrera; and Nelsy Cruz, the governor of the northwestern province of Montecristi whose brother is seven-time Major League Baseball All-Star Nelson Cruz.
Also killed was a retired United Nations official; saxophonist Luis Solís, who was playing onstage when the roof fell; New York-based fashion designer Martín Polanco; the son and daughter-in-law of the minister of public works; the brother of the vice minister of the Ministry of Youth; and three employees of Grupo Popular, a financial services company, including the president of AFP Popular Bank and his wife.
Rescue workers carry the recovered body of a victim who died when the roof collapsed two nights prior at the Jet Set nightclub during a merengue concert, in Santo Domingo, Dominican Republic, Wednesday, April 9, 2025, (AP Photo/Ricardo Hernandez)
Randolfo Rijo Gómez, director of the country’s 911 system, said it received more than 100 calls, with several of those made by people buried under the rubble. He noted that police arrived at the scene in 90 seconds, followed minutes later by first response units. In less than half an hour, 25 soldiers, seven fire brigades and 77 ambulances were activated, he said.
Crews used dogs and thermal cameras to search for victims, rescuing more than 180 survivors from the rubble, authorities said.
It wasn’t immediately clear what caused the roof to collapse, or when the Jet Set building was last inspected.
The government said late Wednesday that once the recovery phase ends, it will launch a thorough investigation.
The club issued a statement saying it was cooperating with authorities. A spokesperson for the family that owns the club told The Associated Press that she passed along questions about potential inspections.
Meanwhile, a spokesperson for the Ministry of Public Works referred questions to the mayor’s office. A spokesperson for the mayor’s office did not respond to a request for comment.
Unisus Green Energy, Thailand’s first and leading expert in private district utility design and implementation, successfully showcased its latest advancements in sustainable District Utility Systems and the newly launched Cooling-as-a-Service solution at the NOVA Expo 2025. These innovations are designed to enhance energy efficiency, lower carbon footprints, and provide cost-effectiveness for urban developments.
The company – a joint venture company between B.Grimm, EEC Engineering Network, and Magnolia Quality Development Corporation – aims to revolutionize the real estate sector by applying its expertise in designing and implementing district utility systems.
Cooling-as-a-Service (CaaS): A Smarter Approach to Cost-Efficient Cooling
At this event, Unisus Green Energy introduced its Cooling-as-a-Service solution — a flexible, pay-per-use cooling system that produces chilled water for facility cooling. This innovative solution is ideal for medium-scale projects with a required cooling capacity of more than 3,000 refrigerant tons. Unlike traditional chiller systems that require high CAPEX and self-management, CaaS eliminates upfront investment for the investor, while Unisus Green Energy handles installation, operations, maintenance, and real-time energy monitoring. This convenient model helps businesses reduce total cost of ownership costs by up to 20%, while optimizing cooling efficiency, and ensuring long-term sustainability and reliability. CaaS is an ideal solution for mixed-use developments, shopping malls, hospitals, and office buildings aiming to enhance operational efficiency and achieve environmental goals.
Revolutionizing Urban Cooling and Drinking Water with Central Utility Plant
Additionally, the company is transforming Thailand’s urban infrastructure with its district utility systems, integrating district cooling system and district drinking water system at the Central Utility Plant (CUP) to enhance energy efficiency, lower costs, and improve residents’ quality of life. At the NOVA Expo 2025, the company showcased these solutions with its project reference at The Forestias, a large mixed-use project designed for sustainable living. This solution helps developments like The Forestias eliminate the need for individual air conditioners and water purifiers in each building, optimize energy use, and support Thailand’s carbon neutrality goals.
The District Cooling System (DCS) produces and distributes chilled water from a CUP through insulated pipes to cool multiple buildings efficiently. It features Thailand’s first thermal energy storage tank, a 10,330 cubic meter sized tank designed to optimize energy usage of the chiller to provide maximum performance. This also enables the shifting of cooling loads between peak and off-peak hours. By reducing the need for traditional air conditioners and using eco-friendly refrigerants, DCS lowers carbon emissions, heat, and noise, while residents track real-time usage via smart meters.
The District Drinking Water System (DWS) produces and delivers bottled water-quality drinking water directly to household taps. The equipment involved in the water purification process at the CUP follows NSF and WRAS standards. This system eliminates plastic waste from bottled water, and can lower operational expenses in maintaining water filters.
Mr. Kamol Tanpipat, Chief Executive Officer of Unisus Green Energy, said, “We offer a comprehensive, one-stop solution that covers the entire CaaS and district utility system lifecycle. From concept development and feasibility studies to design, funding, installation, and testing, we ensure all aspects are handled. Additionally, we manage operations, including O&M, billing, and customer service. Our services are tailored to meet the specific needs of project developers, promote eco-friendly living, and support sustainability. We have successfully implemented district utility systems for The Forestias, Thailand’s large development project, and are preparing to provide Cooling-as-a-Service for various projects. Through these efforts, we aim to drive the future of sustainable urban development and create a lasting environmental impact.”
Unisus Green Energy has been recognized with two prestigious awards, The Nova Award and The NOVA Green Booth Award. The Nova Award is presented to companies whose solutions embody the principles of “green innovation”, while The NOVA Green Booth Award is given to exhibitors who demonstrate a commitment to sustainability by using eco-friendly materials and practices in their booth designs. These honors highlight the company’s significant efforts in promoting innovative green energy solutions and its commitment to environmental responsibility, paving the way to a more sustainable future.
Art is a universal language that bridges the past, present, and future. “Thai Form and Spirit” is an exhibition that reflects the fusion of the tangible (form) and the timeless intangible (spirit), expressed through art deeply rooted in Thai identity and the evolving concepts that drive contemporary art. The exhibition showcases the thesis works of students from the Thai Painting Program, Department of Traditional Thai Arts, Poh-Chang Academy of Arts, Rajamangala University of Technology Rattanakosin.
Within this exhibition, visitors will encounter artworks born from a process of searching, exploring, and reinterpreting the meaning of “Thainess” through fresh perspectives. These young artists stand at the threshold between learning and becoming full-fledged creators, presenting Thai art through a contemporary lens—capturing both visual beauty and the profound spirit embedded in cultural heritage.
Each piece is not only visually captivating but also interwoven with social thought, philosophy, and inherited beliefs passed down through generations. The blending of traditional elements with modern techniques highlights the enduring power of art—ever-evolving with time, yet preserving the unique spirit of Thai identity in a harmonious way.
We invite you to embark on a journey into the world of art, where the lines between form and spirit fade, allowing you to perceive meanings beyond the physical realm. Be part of the force that uplifts and empowers emerging artists as they move forward with confidence and pride in their cultural roots.
Come experience “Thai Form and Spirit” —an exhibition of thesis works by students of the Thai Painting Program, Department of Traditional Thai Arts, Poh-Chang Academy of Arts, Rajamangala University of Technology Rattanakosin as part of the Grad and Glow Arts Thesis Showcase, from today – 16 April 2025 at ICON Art & Culture Space, 8th Floor, ICONSIAM.
Wacoal opens new store in Bangkok's Chinatown that combines lingerie shopping with an art gallery and café.
BANGKOK — Thai Wacoal Public Company Limited has launched “Wacoal Yaowarat Space,” transforming a historic building in Bangkok’s Chinatown into a contemporary multi-purpose venue that combines lingerie retail with an art gallery and café.
The new concept store, which opened in early 2025, represents an expansion strategy for Thailand’s leading lingerie brand, which has won the Marketeer No.1 Brand Thailand award in the Underwear category for 13 consecutive years.
Inthira Naksakul
“With 55 years in business, Thai Wacoal remains steadfast in its commitment to continuous innovation,” said Mrs. Inthira Naksakul, Marketing Director of Thai Wacoal. “Wacoal Yaowarat Space offers an ideal opportunity to create new experiences that will attract a wider range of customers and expand our market reach.”
The four-story building features a first-floor boutique selling lingerie collections and limited-edition items, while the second floor houses an Art Zone with rotating exhibitions that change every four months. The third and fourth floors contain Cups Café, designed in a modern style with the brand’s signature pink accents. A rooftop area offers panoramic views of the Yaowarat area.
Exclusive Wacoal-branded merchandise, including nano blankets, scarves, and water bottles, is available only at this location. The inaugural art exhibition features a collaboration with Milly X Mercy and the ‘PPYY’ collection.
Located between Yaowarat Road Soi 11 and Soi Mangkon, the new space is open daily from 10:00 AM to 10:00 PM and is easily accessible from the MRT Wat Mangkon Station.
The third and fourth floors contain Cups Café, designed in a modern style with the brand’s signature pink accents.Guests can enjoy delicious baked goods, fresh drinks and Wacoal Blend coffee.
Immigration Division 3 officers raided Hui Xiang Restaurant in Nikhom Phatthana District on April 8, 2025.
RAYONG — Immigration Division 3 officers raided Hui Xiang Restaurant in Nikhom Phatthana District on Tuesday, uncovering an illegal workforce of Chinese and Myanmar nationals.
The eatery’s storefront signs, menus, and all interior labels were written entirely in Chinese, and it catered almost exclusively to Chinese customers. This is similar to the operation of what’s called “zero-dollar tours.”
Authorities found Mr. Guoqing, 30, and Mr. Wang, 48—both Chinese nationals on tourist visas—working without valid permits, alongside four Myanmar workers holding falsified documents.
Mr. Guoqing was responsible for taking food orders, attending to customers, and collecting payments from Chinese patrons. Mr. Wang worked as the cook. Both claimed that the restaurant owner was a Chinese woman named Ms. Jing, who hired them along with other Chinese and Myanmar nationals as employees. During the inspection, authorities were informed that Ms. JING had already returned to China.
The eatery’s storefront signs, menus, and all interior labels are written entirely in Chinese.Payments via WeChat Pay, Alipay, and a PromptPay QR code are linked to a Thai account under the name “JING.”
Investigators also noted that patrons paid via WeChat Pay, Alipay, and a PromptPay QR code linked to a Thai account under the name “JING.”
All six were arrested on charges of “working without permission or beyond the scope allowed” and transferred to Nikhom Phatthana Police Station. Pol. Maj. Gen. Chairit Anurit, Commander of Immigration Division 3, warned that offenders will face visa revocation, blacklisting, and deportation.
Pol. Maj. Gen. Chairit disclosed that although the offense carries only a fine in court, those arrested will have their permission to stay in the kingdom revoked, be recorded as prohibited persons or “blacklisted” from entering the kingdom, and be deported to their countries of origin. The Immigration Bureau has measures to monitor both Thai and foreign nationals who have arrest warrants and track their entry and exit from Thailand.
Two Chinese nationals on tourist visas are found working alongside four Myanmar workers at Hui Xiang Restaurant in Rayong Province on April 8, 2025.
People walk by an electronic board showing Japan's Nikkei 225 index at a securities firm in Tokyo Thursday, April 10, 2025. (Kyodo News via AP)
TOKYO (AP) — Asian shares surged in Thursday trading, with Japan’s benchmark jumping more than 2,000 points almost immediately after the Tokyo exchange opened, as investors welcomed President Donald Trump ’s decision to back off on most of his tariffs.
Analysts had expected the regional comeback given that U.S. stocks had one of their best days in history Wednesday on a euphoric Wall Street, where investor hopes had run high that Trump would tone down the tariffs.
On Thursday, Japan’s benchmark Nikkei 225 jumped 8.3% in morning trading to 34,353.17, zooming upward as soon as trading began. Australia’s S&P/ASX 200 soared 4.7% to 7,722.90. South Korea’s Kospi gained 5.5% to 2,419.37. Hong Kong’s Hang Seng added 3.7% to 21,003.84. The Shanghai Composite edged up 1.5% to 3,232.86.
Stephen Innes, managing partner at SPI Asset Management, called the reaction “from fear to euphoria.”
“It’s now a manageable risk, especially as global recession tail bets get unwound, and most of Asia’s exporters breathe a massive sigh of relief,” he said, referring to the tariffs on China, which Trump has kept.
A currency trader prepares to work near the screens showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, April 10, 2025. (AP Photo/Lee Jin-man)
On Wall Street, the S&P 500 surged 9.5%, an amount that would count as a good year for the market. It had been sinking earlier in the day on worries that Trump’s trade war could drag the global economy into a recession. But then came the posting on social media that investors worldwide had been waiting and wishing for.
“I have authorized a 90 day PAUSE,” Trump said, after recognizing the more than 75 countries that he said have been negotiating on trade and had not retaliated against his latest increases in tariffs.
Treasury Secretary Scott Bessent later told reporters that Trump was pausing his so-called ‘reciprocal’ tariffs on most of the country’s biggest trading partners, but maintaining his 10% tariff on nearly all global imports.
China was a huge exception, though, with Trump saying tariffs are going up to 125% against its products. That raises the possibility of more swings ahead that could stun financial markets. The trade war is not over, and an escalating battle between the world’s two largest economies can create plenty of damage. U.S. stocks are also still below where they were just a week ago, when Trump announced worldwide tariffs on what he called “Liberation Day.”
Made in China labels are shown on products in Carmel, Ind., Wednesday, April 9, 2025. (AP Photo/Michael Conroy)
But on Wednesday, at least, the focus on Wall Street was on the positive. The Dow Jones Industrial Average shot to a gain of 2,962 points, or 7.9%. The Nasdaq composite leaped 12.2%. The S&P 500 had its third-best day since 1940.
The relief came after doubts had crept in about whether Trump cared about the financial pain the U.S. stock market was taking because of his tariffs. The S&P 500, the index that sits at the center of many 401(k) accounts, came into the day nearly 19% below its record set less than two months ago.
That surprised many professional investors who had long thought that a president who used to crow about records for the Dow under his watch would pull back on policies if they sent markets reeling.
Wednesday’s rally pulled the S&P 500 index away from the edge of what’s called a “bear market.” That’s what professionals call it when a run-of-the-mill drop of 10% for U.S. stocks, which happens every year or so, graduates into a more vicious fall of 20%. The index is now down 11.2% from its record.
Wall Street also got a boost from a relatively smooth auction of U.S. Treasurys in the bond market Wednesday. Earlier jumps in Treasury yields had rattled the market, indicating increasing levels of stress. Trump himself said Wednesday that he had been watching the bond market “getting a little queasy.”
Analysts say several reasons could be behind the rise in yields, including hedge funds and other investors having to sell their Treasury bonds to raise cash in order to make up for losses in the stock market. Investors outside the United States may also be selling their U.S. Treasurys because of the trade war. Such actions would push down prices for Treasurys, which in turn would push up their yields.
President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein)
Regardless of the reasons behind it, higher yields on Treasurys add pressure on the stock market and push upward on rates for mortgages and other loans for U.S. households and businesses.
The moves are particularly notable because U.S. Treasury yields have historically dropped — not risen — during scary times for the market because the bonds are usually seen as some of the safest possible investments. This week’s sharp rise had brought the yield on the 10-year Treasury back to where it was in late February.
After approaching 4.50% in the morning, the 10-year yield pulled back to 4.34% following Trump’s pause and the Treasury’s auction. That’s still up from 4.26% late Tuesday and from just 4.01% at the end of last week.
In energy trading, benchmark U.S. crude fell 35 cents to $62.00 a barrel. Brent crude, the international standard, declined 48 cents to $65.00 a barrel.
In currency trading, the U.S. dollar fell to 146.82 Japanese yen from 147.38 yen. The euro cost $1.0966, up from $1.0954.
FILE - U.S. political science lecturer Paul Chambers,left, of Thailand's Naresuan University, stands outside the police station in Phitsanulok, Thailand, where he was arrested on Tuesday, April 8, 2025, on charges of insulting the monarchy. (AP Photo, file)
BANGKOK (AP) — A U.S scholar teaching in Thailand who was jailed on charges of insulting the country’s monarchy — an offense punishable by up to 15 years in prison — was released on bail on Wednesday, but also had his visa revoked, an indication he could be deported soon.
An appeals court granted Paul Chambers’ release on bail after it was twice denied on Tuesday by a lower court, said the advocacy group Thai Lawyers for Human Rights. No trial date has been set.
However, since immigration police earlier on Wednesday revoked his visa, Chambers could be deported home to the United States at any time. He has the right to appeal the visa revocation within 48 hours, according to police Maj. Gen. Sarawut Khonyai.
Chambers was first jailed on Tuesday pending trial following a complaint by the Thai army that he had insulted the nation’s monarchy, an offense also known as “112” after its article number in the criminal code. He has been working as a lecturer at Naresuan University in Thailand’s northern province of Phitsanulok,
The U.S. State Department said in a statement Tuesday that it was alarmed by Chamber’s arrest and urged “Thai authorities to respect freedom of expression and to ensure that laws are not used to stifle permitted expression.”
A 58-year-old Oklahoma native with a doctorate in political science from Northern Illinois University, Chambers has studied the Thai military, which has staged 13 coups since Thailand became a constitutional monarchy in 1932, most recently 11 years ago.
The charge against him was related to a webinar he took part in last October, organized by the ISEAS–Yusof Ishak Institute, a think tank in Singapore. His defenders say he had nothing to do with what was quoted in the charge sheet. He was also charged with violating the Computer Crime Act, covering online activities.
Akarachai Chaimaneekarakate of the Thai lawyers’ group said Chambers’ visa was revoked on the basis of an immigration law barring entry to foreigners who are deemed likely to engage in activities contrary to public order or good morals, prostitution, people smuggling and drug trafficking.
Thai law calls for 3-15 years imprisonment for anyone who defames, insults or threatens the king, the queen, the heir apparent or the regent. Critics say it is among the harshest such laws anywhere. The legislation has also been used to punish critics of the government and the military.
Thai Lawyers for Human Rights has said that since early 2020, more than 270 people — many of them student activists — have been charged with violating the law.
