• The once unshakable high-end home market is on ice.
• Young women are starting to recession-proof their lives.
• Business moguls in South Asia are consulting the celestial planes.

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Since President Trump took office, economists have dramatically slashed estimates for growth while raising them for inflation and unemployment (🔐read for free). The main reason, according to respondents to The Wall Street Journal’s quarterly survey of economists: tariffs.

The strike in Sumy, in northern Ukraine, was the second Russian attack this month to cause mass civilian casualties and came two days after U.S. special envoy Steve Witkoff met with Russian President Vladimir Putin as part of Trump’s push for a cease-fire.

The luxury real-estate market has been largely unstoppable for the past few years, fueled by stock-market gains and massive wealth appreciation since the pandemic. Now, market gyrations and tariffs are casting a shadow on high-end property as buyers pull out of deals or tap the brakes amid global economic uncertainty.

European authorities, increasingly worried about their reliance on Elon Musk’s Starlink, are turning to a homegrown alternative, Eutelsat. They're pushing the company to provide a backup in Ukraine as quickly as possible. However, doubts remain that it can compete anytime soon.

Increase in searches for “press on nails” in the U.S. since February, according to Google. “Blonde to brunette hair” is up 17% in the same period. Young women are pulling back on their spending as worries grow over the economy. 

A secretive team of gamblers hatched a scheme to snag a $57.8 million Texas lottery jackpot by buying up nearly every possible number. Politicians and watchdogs are calling it theft. The bettors say they followed all the rules.

• Trump Floods Supreme Court With Appeals to Push Through Agenda (Read)
• President’s ‘Big, Beautiful’ Bill Faces Tense Next Chapter in Congress (Read)
• Colorado’s New Tack on Gun Control: Make It Harder to Reload (Read​)
• 🎧 Trump Prompts Rethink of Nuclear-Weapons Deals (Listen​)

• What It’s Like to Retire in Paris: One Couple’s Experience (Read)
• America’s Toughest Tee Time Is a Public Course in Nebraska (Read)
• So What, Exactly, Is a Recession Anyway? (Read) 

Having a bad quarter? Call your astrologer. Business moguls in South Asia consult the celestial planes before making major decisions.

Buy Side from WSJ: Before you hit the links, consider these expert-approved golf bags.

Today's newsletter was curated by Michael Wright in London and Allison Chopin and Bharbi Hazarika in New York.

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