China on Monday handed over two batches of humanitarian aid to the Lebanese government to assist the people affected by the ongoing conflict.
The aid consists of 70 containers of supplies, including food, tents and other necessities.
Chinese Ambassador to Lebanon Chen Chuandong said at the handover ceremony that China is deeply saddened by the recent humanitarian crisis in Lebanon.
"In the past few months, we have watched with deep concern and shock as the ongoing conflict has resulted in heavy casualties and displacement of families in Lebanon. As a friend and a partner that Lebanon can always trust, China expresses our deep sympathy to the people of Lebanon and express our solidarity with the people of Lebanon because we believe that we all live in the global community of a shared future. We have decided to provide humanitarian supplies to the people in Lebanon," said Chen.
"So the arrival of actually two shipments, one from China, one from Egypt, totally 1,000 tons of supplies that include mattresses, tents, blankets, sanitation packs, and food. This is a testimony to the friendship between China and Lebanon," he added.
He also said that China firmly supports Lebanon in safeguarding its sovereignty, security, stability and unity.
Lebanon's Secretary-General of the High Relief Committee Bassam Naboulsi and Minister of Social Affairs Haneen Sayed also attended the handover ceremony and expressed sincere gratitude for the aid, saying the timely assistance once again demonstrates that China is a trustworthy friend of Lebanon.
"As the displaced people in Lebanon surpasses one million, China's timely humanitarian assistance is deeply appreciated. The Lebanese government and people sincerely thank the Chinese government and people for their helping hand," said Haneen Sayed.
China sends humanitarian aid to Lebanon amid ongoing conflict
U.S. stocks ended lower on Monday as renewed tensions in the Middle East rattled investors and a competitive shift in the shipping industry weighed heavily on the broader market.
The Dow Jones Industrial Average fell by 557.37 points, or 1.13 percent, to 48,941.90. The S&P 500 sank 29.37 points, or 0.41 percent, to 7,200.75. The Nasdaq Composite Index shed 46.64 points, or 0.19 percent, to 25,067.80.
Ten of the 11 primary S&P 500 sectors ended in the red, with materials and industrials leading the laggards by losing 1.57 percent and 1.17 percent, respectively. Meanwhile, energy bucked the trend by rising 0.85 percent.
Markets slide into negative territory following reports that two Iranian strikes hit a U.S. patrol boat and a U.S. warship was forced to turn back in the Strait of Hormuz.
While the U.S. officially denied the reports from Iranian media outlets, geopolitical anxieties worsened after the United Arab Emirates (UAE) reported that both an oil tanker operated by the Abu Dhabi National Oil Company and the Fujairah export terminal had been struck.
On the macroeconomic front, U.S. factory orders for March came in higher than expected, largely spurred by soaring demand for electronic components that underpin artificial intelligence technology. According to data released by the Commercial Department on Monday, factory orders rose 1.5 percent for the month, marking the largest increase since November.
In corporate developments, the logistics sector emerged as a major sore spot after Amazon announced plans to open its proprietary freight, distribution, fulfillment, and parcel shipping network to outside businesses. The move sent shockwaves through the shipping industry, causing GXO Logistics to drop 17.7 percent, while UPS and FedEx declined 10.47 percent and 9.44 percent, respectively.
Looking ahead, Wall Street is bracing for a busy week of corporate earnings, highlighted by results from major semiconductor manufacturers such as Lattice Semiconductor, Advanced Micro Devices, and Arm Holdings. Investors are also closely anticipating reports from Palantir and Paramount Skydance later in the week.
U.S. stocks finish lower amid renewed Middle East tensions
