AFP

Morning of horror: the Texas shooter's path

The day after his 18th birthday, Salvador Ramos, a troubled teenager from small town Texas, bought his first assault rifle. A week later he walked into a local elementary school where he shot and killed 19 small children and two of their teachers.

Authorities are still trying to piece together what drove Ramos to commit America’s worst school massacre in a decade, but here is what is known so far about the shooting:

– How the shooter attacked –

Described as a long-bullied youth with a history of self-harm, Ramos turned 18 on May 16 — and bought a first rifle the very next day, followed three days later by a second and 375 rounds of ammunition.

At some point on Tuesday morning, Ramos shot his 66-year-old grandmother at her home, where he stayed at times. She was airlifted in critical condition to a hospital in nearby San Antonio.

From his grandmother’s home, Ramos drove his grey Ford pickup truck to the area of Robb Elementary School, where more than 500 students in grades two to four — aged around seven to 10 years old — had just three days of class left before summer vacation.

Ramos crashed his truck into a wide culvert behind the school, attracting the attention of people in the neighborhood.

Women working at a nearby funeral home told The Washington Post that when they approached Ramos to see if he needed assistance, he began shooting at them.

Clad in black and wearing a tactical vest, and carrying an assault rifle, he then ran to the school.

The shooting began around 11:30 am. 

Ramos managed to gain entry to a fourth-grade classroom, barricaded himself inside, and starting shooting at the children and teachers trapped inside.

The shooter displayed “no regard for human life,” according to Lt. Chris Olivarez, spokesperson for the Texas Department for Public Safety. “Just a complete tragedy, an evil person.”

All of the victims were killed in the same classroom.

Their identities have been gradually revealed as shattered families share their pain online: from Xavier Lopez, a 10-year-old boy who loved to dance, to Ellie Garcia, “the happiest ever” in her father’s words, and Amerie Jo Garza, a young girl with a brilliant smile who had just celebrated her 10th birthday.

– How he was stopped –

As a crowd grew nearby, police arrived on the scene in response to a report of a crashed vehicle, according to Olivarez.

Hearing shots coming from the school, they ran inside and themselves came under gunfire. Two officers were wounded.

Some police on the scene started to break windows and evacuate children and teachers from the premises.

More law enforcement descended on the scene, including US Border Patrol Agents, who have a station office in the city.

“Upon entering the building, agents and other law enforcement officers faced gunfire from the subject, who was barricaded inside,” said Department of Homeland Affairs spokesperson Marsha Espinosa. 

Espinosa said law enforcement officers “put themselves between the shooter and children on the scene to draw the shooter’s attention away from potential victims,” said Espinosa.

It was more than 30 minutes after Ramos entered the school that he was finally shot and killed, reportedly by one of the Border Patrol agents.

Stock markets drift higher before Fed minutes

Stocks rose Wednesday ahead of the release of the minutes of the latest Federal Reserve meeting in a break in the bearish sentiment that has gripped equity markets.

Stock markets had retreated Tuesday following a series of weak indicators around the world and downbeat forecasts from big firms that chilled trading floors.

Worries have been mounting that the surge in prices is beginning to drag on consumer confidence, with warnings now swirling of a possible global recession.

But with the minutes of the Fed meeting held earlier this month due out later Wednesday, stocks pushed higher.

“I’m not sure what exactly investors are holding out for,” said Craig Erlam, senior market analyst at Oanda.

“A lot has changed in the markets over the last few weeks, and we’ve had a lot of Fed commentary in that time that is arguably more relevant than almost anything we can take from the minutes,” he added.

Investors expect the Fed to continue with more half-point hikes to bring inflation down from four-decade highs.

But the Fed also has vast holdings of government and corporate bonds on its balance sheet, and a reduction would also crimp borrowing markets. 

“Tonight’s minutes could offer clues on policymakers’ thinking around balance sheet run-off,” said Michael Hewson, chief market analyst at CMC Markets UK.

The Dow had edged 0.2 percent higher in late morning trading.

ECB policymakers have also indicated they plan to begin raising rates soon as well. 

“It’s clear that they are united in their desire to start raising rates in July and again probably in September,” said Erlam.

London stocks closed 0.5 percent higher, with Frankfurt rising 0.6 percent and Paris 0.7 percent. 

Traders are also closely watching China, which continues to struggle with the fast-spreading Omicron coronavirus variant.

The world’s second-biggest economy is sticking to its zero-Covid strategy despite the dire impact of lockdowns on growth.

And with no easing of that policy in sight, observers warned that a series of recent support measures would not be enough to lift optimism.

“Fiscal multipliers will be minimal in an economy where economic interaction and activity have slowed sharply,” said Stephen Innes of SPI Asset Management.

“Moving beyond mobility restrictions in short order is a pre-condition, but not a guarantee, for an Asia-led economic recovery.”

Russia’s invasion of Ukraine has meanwhile put financial markets under renewed stress by driving up prices and impeding growth, the European Central Bank said in a report published Wednesday.

Inflation in the eurozone, as elsewhere, has accelerated as costs for energy, agricultural goods and raw materials have risen sharply.

– Key figures at around 1530 GMT –

New York – Dow: UP 0.2 percent at 31,998.33 points

EURO STOXX 50: DOWN 0.2 percent at 3,603.82

London – FTSE 100: UP 0.5 percent at 7,522.75 (close) 

Frankfurt – DAX: UP 0.6 percent at 14,007.93 (close)

Paris – CAC 40: UP 0.7 percent at 6,298.64 (close)

Tokyo – Nikkei 225: DOWN 0.3 percent at 26,677.80 (close)

Hong Kong – Hang Seng Index: UP 0.3 percent at 20,171.27 (close)

Shanghai – Composite: UP 1.2 percent at 3,107.46 (close)

Euro/dollar: DOWN at $1.0678 from $1.0739 on Tuesday

Pound/dollar: UP at $1.2552 from $1.2535

Euro/pound: DOWN at 85.06 pence from 85.64 pence

Dollar/yen: UP at 127.26 yen from 126.86 yen 

Brent North Sea crude: DOWN 0.1 percent at $110.54 per barrel

West Texas Intermediate: DOWN 0.2 percent at $109.57 per barrel

burs-rl/jj

'Nightmare' as gunman murders 19 children, two teachers in Texas

A tight-knit Latino community in Texas was wracked with grief Wednesday after a teenager wearing body armor marched into an elementary school and killed 19 children and two teachers — the latest spasm of America’s gun violence crisis.

Details of the atrocity, the victims and the 18-year-old gunman — who was killed by police — emerged as America grappled with its deadliest school shooting since the Sandy Hook tragedy in Connecticut a decade ago.

“This town is heartbroken, devastated,” said Adolfo Hernandez, whose nephew was at Robb Elementary in Uvalde, a small mainly Hispanic town about an hour from the Mexican border, during the Tuesday shooting.

“We feel like there’s a black cloud above this town,” he told AFP. “You just want to pinch yourself and wake up from that horrible nightmare.” 

Grief-stricken and angry, President Joe Biden addressed the nation in the hours after the attack, calling on lawmakers to take on America’s powerful gun lobby and enact tougher laws to curb gun violence. 

“When in God’s name will we do what we all know in our gut needs to be done?” Biden asked, his voice slow and heavy with emotion.

In Uvalde, police blocked off the area around the school on Wednesday and there was little traffic or pedestrian movement. The neighborhood is one of modest single-story homes, with small yards and often a swing set and an outdoor grill for barbecues.

Identified as Salvador Ramos, the gunman was a resident of the town and a US citizen.

According to Texan officials, Ramos shot his grandmother before heading to Robb Elementary School around noon where he abandoned his vehicle and entered with a rifle.

Law enforcement officers at the school engaged Ramos with gunfire but he managed to get into a classroom and lock it to barricade himself, then started shooting kids and the two teachers, said Chris Olivarez of the Texas Department of Public Safety.

All the fatalities occurred in the one classroom, until police managed to shoot and killed Ramos.

“Just goes to show you complete evil from this shooter,” Olivarez told CNN.

– Gunman’s troubled past –

Details have emerged of the gunman as a deeply troubled teen — he was repeatedly bullied over a speech impediment that included a stutter and a lisp and once cut up his own face “just for fun,” a former friend of Ramos, Santos Valdez, told The Washington Post. 

Days after he turned 18 this month, Ramos legally purchased two assault rifles and 375 rounds of ammunition, CNN said, quoting Texas state Senator John Whitmore.

As shattered families shared the news on social media, the names of the murdered children, most of them of Latino heritage, began coming out: they included Ellie Garcia, Jayce Carmelo Luevanos, Uziyah Garcia. 

“My little love is now flying high with the angels above,” Angel Garza, whose daughter Amerie Jo Garza had just celebrated her 10th birthday, posted on Facebook.

“I love you Amerie jo,” he wrote. “I will never be happy or complete again.”

More than a dozen children were also wounded in the attack at the school, attended by more than 500 students aged around seven to 10 years old, most of them economically disadvantaged.

– ‘Going to be missed’ –

Fourth-grade teacher Eva Mireles was shot and killed while trying to protect her students, her aunt Lydia Martinez Delgado told the New York Times. She said Mireles was proud of teaching kids of Latino heritage.

A cousin of Mireles, Amber Ybarra, called her a hero.

“Her cooking was amazing. Her laughter was contagious, and she’s going to be missed,” Ybarra told NBC’s “Today” show. “She put her heart into everything that she did.”

There have been more mass shootings — in which four or more people were wounded or killed — in 2022 than days so far this year, according to the non-profit Gun Violence Archive which recorded 213 such incidents.

The Uvalde shooting was the deadliest such incident since the 2012 Sandy Hook shooting in Connecticut, in which 20 elementary school children and six staff were killed.

– ‘Happens nowhere else’ –

Senator Chris Murphy, a Democrat from Connecticut, where the Sandy Hook shooting took place, made an impassioned appeal for concrete action to prevent further violence.

“This isn’t inevitable, these kids weren’t unlucky. This only happens in this country and nowhere else,” Murphy said on the Senate floor in Washington.

The deadly assault in Texas follows a series of deadly mass shootings in the United States this month: most recently on May 14 when an 18-year-old self-declared white supremacist shot 10 people dead at a grovery store in Buffalo, New York.

Despite recurring mass-casualty shootings, multiple initiatives to reform gun regulations have failed in the US Congress, leaving states and local councils to strengthen — or weaken — their own restrictions.

The victims of the tragic Texas school shooting

A young boy who loved to dance, a girl who was “the happiest ever” — here’s a closer look at four of the victims of the mass shooting at a Texas elementary school that claimed the lives of 19 children and two teachers.

– Amerie Jo Garza, the big sister –

Amerie Jo Garza, a young girl with a brilliant smile, had just celebrated her 10th birthday in mid-May.

For unbearably long hours on Tuesday, her father Angel Garza had no news of her.

“I don’t ask for much or hardly even post on here but please it’s been 7 hours and I still haven’t heard anything on my love,” he wrote on Facebook, along with a photo of him hugging his grinning daughter.

Several hours later, he posted again.

“Thank you everyone for the prayers and help trying to find my baby,” he said. “My little love is now flying high with the angels above.”

“I love you Amerie Jo. Watch over your baby brother for me.”

– Ellie Garcia, ‘a doll’ –

“Our Ellie was a doll and was the happiest ever,” Ellie Garcia’s father, Steven Garcia, wrote on Facebook. “I was gonna DJ for her at her party like she wanted me too!!!”

“Mom and Dad love you never forget that and please try and stay by our side,” he added.

Ellie’s mother Jennifer Lugo also posted many photos of her daughter on social media. “My heart is broken,” she wrote alongside a photo of Ellie at her first communion in 2021, dressed in white and beaming at the camera.

“I feel so numb. I miss you baby!!!!!”

– Eva Mireles, teacher –

Eva Mireles was one of two teachers killed Tuesday by the 18-year-old gunman. In her early forties, she had been teaching for 17 years.

She loved running and hiking, according to a short biography of her posted on the school website.

“And now you just might see me riding a bike!!” she added.

Mireles is survived by her husband, a daughter and three pets.

– Xavier Lopez, the dancer –

Xavier Lopez, 10, “loved to dance,” his uncle Benito Martinez told Fox News Tuesday night.

“Oh man, he would dance even when he sweated but he didn’t care,” Martinez said of his young, dark-haired nephew.

“This past Sunday he was at my daughter’s birthday party,” Martinez said, smiling at the memory. “He was dancing.”

US negotiator says odds against reviving Iran deal

The US pointman on Iran warned Wednesday it was more likely than not that talks would fail to revive a nuclear deal as he vowed no let-up in pressure if Tehran clings to its demands.

Rob Malley, who has led more than a year of indirect talks with Iran in Vienna, nonetheless told lawmakers that President Joe Biden’s administration still supported the 2015 nuclear accord and was ready to lift sanctions if it secures an agreement.

“As of today the odds of a successful negotiation are lower than the odds of failure and that is because of excessive Iranian demands to which we will not succumb,” Malley told the Senate Foreign Relations Committee.

He said the United States would reject “demands that go beyond the scope of the JCPOA,” using the official name for the Joint Comprehensive Plan of Action.

“We are fully prepared to live with and confront that reality if that is Iran’s choice,” Malley said.

He was likely referring to the clerical state’s demands to remove a terrorism blacklisting of the elite Revolutionary Guards, a step rejected by Biden and bitterly opposed by many in Congress.

But Malley made clear that Biden did not support military action — an option loudly mulled by Israel, which is suspected in a shadowy campaign of assassination against Iranian nuclear scientists.

“All options are on the table,” Malley said, while adding that military action would only “set back” Iran’s nuclear program.

Referring to the US history of war in the Middle East, Malley said, “We know that it costs.”

“But let’s leave it at this — the only solution here is a diplomatic one.”

– More economic pressure –

Malley, however, warned of greater economic pressure if talks fail — and said the United States would have the support of the Europeans, unlike under former president Donald Trump.

The Treasury Department said Wednesday it was imposing sanctions on a network backed by Revolutionary Guard and Russian officials that has shipped hundreds of millions of dollars of oil in defiance of unilateral US sanctions.

The JCPOA — brokered under then president Barack Obama with the blessing of European powers, Russia and China — promised economic relief for Iran which, inspectors said, had been complying with the accord’s severe curbs on its nuclear program.

Trump withdrew in 2018 and imposed sweeping unilateral sanctions including on Iran’s oil, vowing to bring Tehran to its knees.

Malley said that Trump’s approach had demonstrably failed, with Iran stepping up nuclear work since the US pullout.

Senators including some from Biden’s Democratic Party voiced exasperation, noting that Secretary of State Antony Blinken had warned in January that only “a few weeks” were left before Iran had advanced to the point that the JCPOA was no longer beneficial.

“We continue to wait and hope. But hope is not a national security strategy,” said Senator Bob Menendez, the Democratic chairman of the committee.

Menendez said Iran had convinced the world “that the United States wants the JCPOA more than the Iranian regime does.”

Malley replied that technical assessments remain “that the nonproliferation benefits of the deal are worth the sanctions relief that we would provide.”

He also offered strong criticism of Iran’s crackdown on recent protests against austerity measures.

“I don’t think this is a strong regime that is basking in being able to circumvent sanctions,” Malley said.

“It is a regime under duress and that’s because of its own mismanagement and our sanctions.”

VW Group to settle UK 'dieselgate' claims for £193 mn

Volkswagen on Wednesday said it would pay £193 million ($242 million, 226 million euros) to British claimants over its 2015 diesel emissions tests cheating scandal.

The German company has faced claims around the world since revelations that it cheated pollution tests by installing devices to reduce nitrogen oxide readings.

A class action was brought on behalf of some 91,000 claimants in England and Wales but Volkswagen settled out of court, avoiding a lengthy, potentially costly trial and any appeal.

“No admissions in respect of liability, causation or loss have been made by any of the defendants in the group action as part of the settlement,” VW said.

Terms and conditions of the settlement against Volkswagen Group outlets and dealers were confidential, it added in a statement.

But it said: “A payment of £193 million is being made to the claimants by the Volkswagen Group. A separate contribution is being made by the Volkswagen Group towards the claimants’ legal costs and other fees.”

Chief legal officer Philip Haarmann called the settlement “another important milestone” as the carmaker tries to rebuild trust after the “deeply regrettable events”.

In September 2015, the US Environmental Protection Agency found many VW cars being sold in the country were fitted with software in diesel engines to give better emissions results when tested.

Volkswagen admitted fitting 11 million vehicles with software to make engines appear less polluting in regulatory tests.

That has seen it pay tens of billions of dollars in damages, refunds and court fees, most of them in the United States and Germany.

The High Court in London ruled in April 2020 that Volkswagen was liable to pay compensation in England and Wales to the owners of some 1.2 million VW, Audi, Seat and Skoda vehicles.

Pfizer offers to sell medicines at cost to poorest countries

US pharmaceutical giant Pfizer on Wednesday said it would sell its patented drugs on a not-for-profit basis to the world’s poorest countries, as part of a new initiative announced at the World Economic Forum in Davos.

“The time is now to begin closing this gap” between people with access to the latest treatments and those going without, chief executive Albert Bourla told a press conference at the exclusive Swiss mountain resort gathering.

“An Accord for a Healthier World” focuses on five areas: infectious diseases, cancer, inflammation, rare diseases and women’s health — where Pfizer currently holds 23 patents, including the likes of Comirnaty and Paxlovid, its Covid vaccine and oral treatment.

“This transformational commitment will increase access to Pfizer-patented medicines and vaccines available in the United States and the European Union to nearly 1.2 billion people,” Angela Hwang, group president of the Pfizer Biopharmaceuticals Group, told AFP.

Five countries: Rwanda, Ghana, Malawi, Senegal and Uganda have committed to joining, with a further 40 countries — 27 low-income and 18 lower-middle-income — eligible to sign bilateral agreements to participate.

“Pfizer’s commitment sets a new standard, which we hope to see emulated by others,” Rwanda’s President Paul Kagame said.

But he added that “additional investments and strengthening of Africa’s health systems and pharmaceutical regulators” would also be needed.

– Seven years behind –

Developing countries experience 70 percent of the world’s disease burden but receive only 15 percent of global health spending, leading to devastating outcomes.

Across sub-Saharan Africa, one child in 13 dies before their fifth birthday, compared to one in 199 in high-income countries.

Cancer-related mortality rates are also far higher in low and middle-income countries — causing more fatalities in Africa every year than malaria.

All this is set to a backdrop of limited access to the latest drugs. 

Essential medicines and vaccines typically take four to seven years longer to reach the poorest countries, and supply chain issues and poorly resourced health systems make it difficult for patients to receive them once approved. 

“The Covid-19 pandemic further highlighted the complexities of access to quality healthcare and the resulting inequities,” said Hwang.

“We know there are a number of hurdles that countries have to overcome to gain access to our medicines. That is why we have initially selected five pilot countries to identify and come up with operational solutions and then share those learnings with the remaining countries.”

– ‘Very good model’ –

Specifically, the focus will be on overcoming regulatory and procurement challenges in the countries, while ensuring adequate levels of supply from Pfizer’s side.

The “not-for-profit” price tag takes into account the cost to manufacture and transport each product to an agreed upon port of entry, with Pfizer charging only manufacturing and minimum distribution costs.

If a country already has access to a product at a lower price tier, for example vaccines supplied by GAVI, a public-private global partnership, that lower price will be maintained.

Hwang acknowledged that even an at-cost approach could be challenging for the most cash-strapped countries, and “this is why we have reached out to financial institutions to brief them on the accord and ask them to help support country level financing.”

Pfizer will also invite other stakeholders — including governments, multilateral organisations, NGOs and even other pharmaceuticals — to join the accord.

It is also using funding from the Bill & Melinda Gates Foundation to advance work on a vaccine against Group B Streptococcus (GBS), the leading cause of stillbirth and newborn mortality in low-income countries.

“This type of accord is a very good model, it’s going to help get medicines out,” Gates told the Davos conference, adding that “partnerships with companies like Pfizer have been key to the progress we have made” on efforts like vaccines.

But University of East Anglia health economist Farasat Bokhari said that “the devil is in the detail”, asking “what is it that the countries have to agree to in this accord?”

Bokhari told AFP he would want to know if the agreements entailed commitments to volume, or exclusionary deals that would prevent other companies bringing equivalent drugs to market in the future.

Nike halts sales to retailers in Russia

Nike will not renew licensing agreements in Russia, the company said Wednesday, joining a growing list of Western companies pulling back from the country following the invasion of Ukraine.

The move affects licensed retailers as Nike shuttered company-owned stores two months ago soon after Moscow sent troops into the neighboring country.

“Due to operational challenges in Russia, Nike has made the decision not to renew or enter into any new business commitments, including with our franchisee Up&Run,” the company said.

“Our business remains on pause and we are providing pay continuity to our employees.” 

Nike’s statement was in response to an AFP inquiry into the status after Russian newspaper Vedomisti reported that Up & Run’s parent, Inventive Retail Group (IRG), would shutter its retail locations in Russia because of lack of access to merchandise.

IRG’s website shows 37 Nike locations, nine of which are listed as “temporarily closed.”

“As you can see from our stores, deliveries are suspended and the goods are in short supply,” IRG spokeswoman Lyudmila Semushina told AFP. “In the current realities, we cannot continue to support the work of Nike mono-brand stores and will be forced to close them.” 

Nike’s move comes just two days after Starbucks said it was shuttering its 130 cafes in the country, and last week, McDonald’s announced its exit from Russia, where it had 850 restaurants employing 62,000 workers.

Russia’s President Vladimir Putin ordered troops into pro-Western Ukraine on February 24, triggering unprecedented sanctions and sparking an exodus of foreign corporations including H&M, Adidas  and Ikea.

Another mass shooting, another US gun control debate

A mass shooting that left 19 schoolchildren and two teachers dead in the deeply pro-gun state of Texas on Tuesday increased pressure on US politicians to take action over the ubiquity of firearms — but also brought the grim expectation of little or no change.

It was the eighth mass shooting this year, according to the Everytown gun control group, and came 10 days after another 18-year-old murdered 10 African Americans at a supermarket in New York.

But nearly 10 years after a man slaughtered 20 children and six others in an attack on the Sandy Hook elementary school in Newtown, Connecticut, and four years after 17 were killed at a Florida high school, restrictions on gun purchases and ownership have not significantly changed.

“I had hoped, when I became president, I would not have to do this, again,” a distraught President Joe Biden said as he led national mourning, vowing to overcome the US gun lobby and find a way to tighten gun ownership laws.

“Another massacre… an elementary school. Beautiful, innocent, second, third, fourth graders,” he said. “I am sick and tired of it. We have to act. And don’t tell me we can’t have an impact on this carnage.”

But guns of all kinds, especially high-powered assault rifles and semi-automatic pistols are cheaper and more widely available than ever across the United States.

And the all-too-familiar arguments over guns, public safety and rights re-opened immediately on the news of Tuesday’s mass shooting.

– Gun massacres ‘politicized’? –

The debate is set to intensify going into the weekend when Houston, Texas hosts the annual convention of the country’s leading pro-gun lobby, the National Rifle Association.

Scheduled to speak at the convention is former president Donald Trump, Texas Governor Greg Abbott, Texas Senator Ted Cruz and other prominent Republicans.

Senator Chris Murphy, who represents Connecticut, made an emotional call on the Senate floor on Tuesday for lawmakers to take action.

“Nowhere else does that happen except here in the United States of America and it is a choice. It is our choice to let it continue,” he said.

But Cruz quickly pushed back, saying people will use the shooting to attack the right of people under the US Constitution’s 2nd Amendment to own guns.

“When there’s a crime of this kind, it almost immediately gets politicized,” Cruz said.

Attacking constitutional gun rights “is not effective in stopping these sort of crimes,” he added.

– More guns, more shootings –

Yet data shows the grim national cost of gun crime.

Last week, the Centers for Disease Control and Prevention said the number of gun deaths in the United States underwent a “historic” increase in 2020.

And the US racked up 19,350 firearm homicides in 2020, up nearly 35 percent over 2019, and 24,245 gun suicides, up 1.5 percent.

At 6.1 deaths per 100,000 inhabitants in 2020, the firearm homicide rate was the highest in a quarter century. 

Mass shootings have also risen, according to Everytown.

“Since 2009, there have been 274 mass shootings in the United States, resulting in 1,536 people shot and killed and 983 people shot and wounded,” the group says.

The country is swamped with guns. US firearms makers produced more than 139 million guns for the commercial market over the two decades from 2000, and the country imported another 71 million.

That includes high-powered assault rifles, which can be found for $500, and 9 millimeter pistols that combine ease of use, high accuracy and semi-automatic triggers with prices as low as $200.

– Gun laws eased in Texas –

But at every incident, proposals by state and federal lawmakers to tighten laws are rebuffed by conservative colleagues, who count on voter support from a sizeable portion of the public opposed to gun control.

Last year, a Pew poll said just 53 percent of Americans want stricter gun laws, and only 49 percent think tougher laws would decrease mass shootings.

Politicians like Abbott have instead moved to ease controls. Last year, the Texas governor signed a law allowing anyone in the state over 21 to openly carry a handgun without a license or training, and, with certain qualifications, people over 18 can also do so.

Shannon Watts, the founder of Moms Demand, an activist arm of Everytown, pointed out that Texas is one of the country’s largest gun markets and has a high firearms death rate.

“If more guns and fewer laws made Texas safer, it would be the safest state with declining rates of gun violence,” Watts wrote on Twitter.

“But it has high rates of gun suicide and homicide, and is home to four of the 10 deadliest mass shootings.”

European and US stock markets struggle to recover

European and US stock markets struggled to mount a rebound Wednesday as investors weighed the fallout from surging inflation, higher interest rates, China’s economic slowdown and the Ukraine war.

The day before, global equities had retreated as volatility grips financial markets.

A series of weak indicators around the world and downbeat forecasts from big firms have chilled trading floors in recent weeks as the surge in prices begins to drag on consumer confidence, with warnings now swirling of a possible global recession.

The tech sector was again in the firing line after Snap, the parent of social media app Snapchat, provided a gloomy economic outlook, sending its shares diving more than 40 percent on Wall Street Tuesday.

Wall Street titans followed Snap down, with Facebook-parent Meta and Google-parent Alphabet tanking.

“The feel-good factor from earlier in the week has fizzed away, but there is still some element of relief washing through the financial markets that the crutch of cheap money isn’t going to be withdrawn quite so quickly,” said Susannah Streeter, investment and markets analyst at Hargreaves Lansdown. 

She said expectations that the Federal Reserve would avoid hiking US interest rates by as much as 0.75 percent in one go to bring down inflation “helped lift the Dow Jones (Tuesday)… and has steadied overall market sentiment”.

Investors are awaiting the Fed’s next move on interest rates, with expectations for more half-point hikes to come as officials struggle to bring inflation down from four-decade highs.

With minutes from the Fed’s most recent policy meeting due out later Wednesday, Wall Street’s main stock indices opened lower, with the Dow shedding 0.4 percent. 

The broader S&P 500 as well as the tech-heavy Nasdaq were down by a similar amount.

With numerous Fed officials having spoken since the meeting, “the minutes released today may not move today’s trading dial much, unless they convey some more aggressive-minded thinking on the pace of balance sheet reduction,” said Patrick J. O’Hare at Briefing.com.

European stocks made modest gains in afternoon trading.

Traders are also closely watching China, which continues to struggle with the fast-spreading Omicron coronavirus variant.

The world’s second-biggest economy is sticking to its zero-Covid strategy despite the dire impact of lockdowns on growth.

And with no easing of that policy in sight, observers warned that a series of recent support measures would not be enough to lift optimism.

“Fiscal multipliers will be minimal in an economy where economic interaction and activity have slowed sharply,” said Stephen Innes of SPI Asset Management.

“Moving beyond mobility restrictions in short order is a pre-condition, but not a guarantee, for an Asia-led economic recovery.”

Russia’s invasion of Ukraine has meanwhile put financial markets under renewed stress by driving up prices and impeding growth, the European Central Bank said in a report published Wednesday.

Inflation in the eurozone, as elsewhere, has accelerated as costs for energy, agricultural goods and raw materials have risen sharply.

– Key figures at around 1330 GMT –

London – FTSE 100: UP 0.5 percent at 7,517.96 points

Frankfurt – DAX: UP 0.2 percent at 13,947.77

Paris – CAC 40: UP 0.3 percent at 6,271.73

EURO STOXX 50: DOWN 0.4 percent at 3,598.53

New York – Dow: DOWN 0.4 percent at 31,797.63

Tokyo – Nikkei 225: DOWN 0.3 percent at 26,677.80 (close)

Hong Kong – Hang Seng Index: UP 0.3 percent at 20,171.27 (close)

Shanghai – Composite: UP 1.2 percent at 3,107.46 (close)

Euro/dollar: DOWN at $1.0666 from $1.0739 on Tuesday

Pound/dollar: DOWN at $1.2517 from $1.2535

Euro/pound: DOWN at 85.20 pence from 85.64 pence

Dollar/yen: UP at 127.11 yen from 126.86 yen 

Brent North Sea crude: UP 0.8 percent at $111.55 per barrel

West Texas Intermediate: UP 0.9 percent at $110.72 per barrel

burs-rl/spm

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