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This is the world in brief from The Economist.

Our top stories.

America's central bank lowered its benchmark interest rate by a quarter point,

its second consecutive cut to between 3.75% and 4%.

The Federal Reserve suggested it was concerned about risks, confronting the labour market.

Stock indices briefly sank but largely recovered after Jerome Powell, the Fed's chair,

said that an interest rate cut in December was, quote, not a foregone conclusion.

NVIDIA became the world's first $5 trillion company after reporting strong sales, including $500 billion in confirmed orders for its artificial intelligence chips. Investors believe that upcoming

trade talks between Donald Trump and Xi Jinping could help restore the firm's access to China.

The chipmaker's stock has soared during the AI boom. It was valued at $4 trillion just three months ago.

Vladimir Putin, Russia's president, said his country conducted a successful test of Poseidon,

an underwater drone with, quote, no existing interception methods.

The nuclear-powered and nuclear-capable weapon may have a range of 10,000

kilometers, a speed of 185 kilometers per hour, and could trigger tsunamis. The show of might comes

after Russia also tested a Buravestnik cruise missile and held nuclear launch drills.

Israel said it would maintain its ceasefire in Gaza after air strikes killed more than 100 people overnight, including dozens of women and children, according to Palestinian officials.

The raids followed the killing of an Israeli soldier, which the army blamed on Hamas.

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