FIRST UP

Two Israeli embassy staffers were killed in a shooting outside the Capital Jewish Museum in Washington, D.C. on Wednesday evening, in an incident that Israeli officials have described as an “act of anti-Semitic terrorism.” D.C. Metropolitan Police Chief Pamela Smith said at a press conference that the person believed to have carried out the shooting is now in custody, adding that the suspect chanted “Free, free Palestine” after he was detained.

Target missed expectations in its first-quarter earnings report, and warned of a likely sales decline for 2025 in the wake of tariff uncertainty and boycotts over its scaled-back DEI efforts. As other retailers like Walmart have warned of price hikes, Target CEO Brian Cornell reportedly said the company would only raise its prices amid tariffs as a “very last resort.”

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BUSINESS + FINANCE

Nike is the latest company to announce that it will raise prices in the face of President Donald Trump’s tariff policies, though the footwear and apparel titan did not directly blame the tariffs for the increases, which will go into effect June 1. The company plans to increase prices between $2 and $10, depending on the item, according to CNBC, which reported that about 50% of Nike’s footwear is manufactured in China and Vietnam.

All three major stock indexes had their worst single-day losses in a month Wednesday, as long-term Treasury yields spiked after an earlier auction for long-term U.S. government bonds had soft demand. Higher bond yields indicate lower prices, and as yields for Treasury notes increase, the cost of borrowing rises for consumers.

TECH + INNOVATION

Short videos claiming to offer an easy way to unlock paid-for subscriptions or features for apps like Microsoft Windows, Office365 and Spotify Premium are garnering millions of views on TikTok. But the posts are actually trying to trick viewers into installing malicious code that can spy on users’ devices, and the cybersecurity researcher who discovered the attack believes the scam is being perpetuated with the help of AI.

Microsoft said that nearly 400,000 Windows computers were recently infected by a Russian malware-as-a-service offering known as Lumma Stealer, as cyberattacks are on the rise this year.Lumma is sold in underground forums to hackers who typically use the malware, which impersonates trusted brands, to monetize stolen information or exploit victims.

MONEY + POLITICS

The Trump Administration was again accused of defying court orders over its mass deportation efforts, as a judge ruled Wednesday it violated a federal court order by sending migrants to South Sudan. The judge said the decision to send migrants there “unquestionably” violated a previous order he issued, which blocked the government from deporting people to a third country—meaning one other than the U.S. or their home country—without giving them a “meaningful” opportunity to protest the removal.

The U.S. formally accepted the luxury plane from Qatar Wednesday, despite bipartisan criticism. Trump has pushed back on the notion that accepting the plane is illegal, and initially said the Boeing 747, which is worth hundreds of millions, will be donated to his presidential library following its tenure as Air Force One.

TRAVEL + LIFESTYLE

As air traffic control outages at Newark Airport have raised alarm, a new report from CNN suggests communication breakdowns are relatively commonplace. According to the analysis, more than 40 reports of radar and radio failures at dozens of airports nationwide have been filed to NASA’s Aviation Safety Reporting System since 2022.

TRENDS + EXPLAINERS

As part of the Trump Administration’s push to revive American manufacturing, the Small Business Administration recently introduced a tool to help businesses source goods closer to home. The data—which is pulled from three private platforms—isn’t new, but the SBA is betting that packaging it in one place will make a difference. Still, it doesn’t address the underlying reasons businesses turned to China for manufacturing in the first place: cost and availability.