Trump Orders Education Department Shutdown; Global Markets React to Central Bank Caution

President Trump signed an executive order to "eliminate" the Department of Education, aiming to return control to states. The order faces legal challenges and requires Congressional approval. The remaining department shell will oversee student loans and Pell Grants. White House officials cited concerns about the department's staffing and curriculum. Separately, U.S. stocks saw modest losses amid strong housing data and steady jobless claims. Central banks, including the Bank of England, held rates, expressing caution about global trade. The Swiss National Bank cut its rate but voiced concerns over U.S. trade policies. Geopolitical tensions rose with reports of airstrikes in Gaza and a Ukrainian drone attack on a Russian airfield. Oil prices increased following new Iran sanctions and Middle East tensions. Gold prices eased from record highs.