S&P 5007,408.30▼1.2% Nasdaq25,137.69▼2.1% Dow51,711.65▼1.0% Russell 2K2,940.16▼0.7% 10-Yr4.70%+5bp VIX18.70+2.06 WTI$92.23▲6.2% Gold$4,051.10▼2.3% EUR/USD1.138▼0.2% BTC$65,435▲0.6% Nikkei66,116▼0.2%
At close · Thu, Jul 23, 2026
Daily Market Updates.

Global Markets

HomeGlobal MarketsAsiaBangladesh president Mohammed Shahabuddin to resign Fr…

Bangladesh president Mohammed Shahabuddin to resign Friday

The largely ceremonial presidency will end early, with his term set to run until April 2028, after Hasina’s announced return and court conviction.

Bangladesh President Mohammed Shahabuddin will resign on Friday, a decision his spokesman attributed to health, leaving the largely ceremonial post early in his term, according to Reuters. Shahabuddin, a former ally of ousted Prime Minister Sheikh Hasina, is stepping down with his tenure originally scheduled to continue through April 2028. Press secretary Sarwar Alam said the president’s illnesses mean it is no longer possible to discharge his duties and that he needs treatment and rest.

Reuters reported that Shahabuddin remained in office after Hasina was ousted in August 2024, when mass youth protests led to a transition and elections that brought Tarique Rahman to power. Three sources familiar with the matter said the government pressed Shahabuddin to step aside because of his long-standing ties to Hasina after she announced plans to return to Bangladesh in December to surrender following a court conviction.

More like this

Sources

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.