EU considers 25 pct retaliatory tariffs on U.S. goodsThe European Union (EU) on Monday proposed a 25 percent tariff on select U.S. products in response to President Donald Trump's recent decision to impose duties on European steel and aluminum, reported Reuters and Bloomberg, citing an internal document shared with EU member states.Part of the retaliatory tariffs is set to take effect on May 16, according to Reuters.Trump, Netanyahu discuss Gaza hostages, tariffs at White HouseU.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu met at the White House on Monday, focusing on the Gaza hostage crisis and U.S. tariffs on Israeli goods.In a brief Oval Office session open to reporters, Trump called the release of hostages held in Gaza a "top priority." He expressed optimism about ongoing negotiations but provided no specific details.U.S. tariffs turmoil weighs down European stocksEuropean stocks plunged on Monday, falling by an average of around 5 percent, as mounting concerns over U.S. tariffs continued to rattle global markets.Major European benchmark indexes opened sharply lower, reacting to U.S. President Donald Trump's unwavering stance on new trade duties. Although markets recovered slightly from early losses, most key indexes still closed more than 4 percent lower.Asian stocks tumble amid U.S. tariff concernsStock markets across the Asia-Pacific traded sharply lower on Monday as financial turmoil sparked by the U.S. "reciprocal tariffs" escalated recession fears worldwide.Hong Kong's Hang Seng Index dropped 2,445.19 points, or 10.7 percent, to end at 20,404.62 points in Monday's morning session. The retreat widened from 9.28 percent at opening.This came on top of losses in Japan, where the benchmark Nikkei stock index shed 2,843.48 points, or 8.42 percent, in the first 15 minutes of trading, the lowest intraday level since October 2023.25 Palestinians killed in Israel's Gaza strikesAt least 25 Palestinians were killed on Monday in Israeli strikes across the Gaza Strip, local Civil Defense said.Mahmoud Basal, spokesperson for the Civil Defense in Gaza, said two Palestinians, including a journalist, were killed and nine other journalists injured when an Israeli airstrike targeted a press tent near the Nasser Medical Complex in Khan Younis, southern Gaza.U.S. conducts 5 airstrikes on YemenThe U.S. military launched five airstrikes on Houthi sites in Yemen's oil-rich Marib province on Monday night, Houthi-run al-Masirah TV reported.On Sunday night, a series of U.S. airstrikes targeted a house and damaged several adjacent residential buildings in the capital Sanaa, killing four children and wounding 25 others, including 11 women and children, according to the medics.Myanmar earthquake death toll rises to 3,600The death toll from a major earthquake in Myanmar has risen to 3,600 lives, with 5,017 people injured and 160 still unaccounted for, the State Administration Council's Information Team reported on Monday.S. Korea's snap presidential election to be held on June 3South Korea's snap presidential election was widely expected to be held on June 3 after former President Yoon Suk-yeol's ouster from office last week, multiple media outlets, including Yonhap news agency, said Monday.An unidentified government official was quoted by Yonhap, local daily Chosun Ilbo and other media as saying that the date of the election will be confirmed at the scheduled cabinet meeting on Tuesday.