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S&P 500 Has Worst Day Since June 2020 as Trade War Sets Off Slump
The S&P 500 fell almost 5 percent on Thursday, its worst drop since June 2020, as President Trump’s higher-than-expected tariffs set off another round of economic worry.The New York Times - 2d -
Higher inflation, shaky markets: What to expect from Trump's tariff policies, according to economists
Trump's tariffs are likely to roil the economy, experts say. But they shouldn't derail your long-term plans.CNBC - 2d -
Canada’s Carney Puts Tariffs on U.S.-Made Cars as Stellantis Plant Pauses Production
Mark Carney, a former central banker, also called on “like-minded countries” to form a new trading order without the United States.The New York Times - 2d -
What Trump says he's trying to accomplish with tariffs
President Donald Trump contends tariffs will pay for tax cuts, lower foreign trade barriers, revive U.S. factories, curb fentanyl and reduce the national debt.CNBC - 2d -
Federal Reserve is unlikely to rescue markets and economy from tariff turmoil anytime soon
Should the president hold fast to his tougher-than-expected trade policy, there's a material risk of at least near-term costs.CNBC - 2d -
Jim Cramer says investors should follow the post-dot-com-bubble playbook
As tariffs tanked stocks on Thursday, CNBC's Jim Cramer believes investors should look to the same sectors that rose after the dot-com bubble burst in 2000.CNBC - 2d -
Radhika Jones, Vanity Fair’s Top Editor, Steps Down
Ms. Jones has led the gilded magazine of culture, business and politics since 2017.The New York Times - 2d -
Trump's new tariffs construct a $1 trillion trade wall around the U.S. economy
President Trump's tariffs will equate to a nearly $1 trillion trade wall around the U.S., with huge impacts on every sector and every state in the U.S. economy.CNBC - 2d -
Trump’s Tariffs Follow Anger Over Trade Imbalances and Lost Manufacturing Jobs
Economists and legal experts question how the strongest economy in the world can be facing a national emergency over the trade deficit.The New York Times - 2d -
Shoppers will pay more for bananas, coffee and toilet paper because of tariffs, trade group says
Grocery bills will likely rise as shoppers pay more for household staples because of the Trump administration's new tariffs.CNBC - 2d -
U.S. tariff rates under Trump will be higher than the Smoot-Hawley levels from Great Depression era
Evercore ISI strategist Sarah Bianchi said the new policies put the effective tariff rate above the level of around 20% set by 1930's Smoot-Hawley Tariff Act.CNBC - 2d -
Trump tariffs threaten Apple's supply chain, stock suffers steepest drop in 5 years
Apple has warned that tariffs could hurt its business, prompt it to increase prices and potentially force it to stop offering certain products altogether.CNBC - 2d -
Trump administration lifts sanctions on wife of Putin ally Boris Rotenberg
Karina Rotenberg and her husband were placed on a sanctions list by the Biden adminstration after Russia invaded Ukraine.CNBC - 2d -
Magnificent 7 relinquishes more than $1 trillion as tech drives stock market nosedive
Last year's high-flyers helped lead the broad market lower.CNBC - 2d -
Trump’s Tariffs Pose a New Threat for Germany’s Stagnant Economy
President Trump’s trade war adds another challenge to the incoming government’s attempts to revive Europe’s biggest economy.The New York Times - 2d -
Shares of Wall Street firms rocked by new US tariff regime
Financiers thought Trump would usher in a pro-business era but financial stocks have stumbled as tariff plans became clearFinancial Times - 2d -
Fintech stocks such as Affirm, PayPal plunge on concern Trump tariffs will hurt consumer spending
Fintech and credit card stocks were hit particularly hard in the market rout that followed President Donald Trump's tariff announcement.CNBC - 2d -
Trump’s Trade War Risks Forfeiting America’s Economic Primacy
The United States has steered an economic order for 80 years based on trade and trust, making the country the world’s financial superpower. That vision is now blurred.The New York Times - 2d -
Energy Department Invites AI Development at Los Alamos and Other Federal Lands
The DOE says that there are 16 federal sites that would be ideal places for tech companies to build AI data centers.Inc. - 2d -
Trump’s De Minimis Order Could Raise Costs on Clothes and Goods From China
The loophole has allowed retailers to send goods from China directly to U.S. shoppers without paying tariffs. Closing it could raise consumer prices.The New York Times - 2d -
Pentagon watchdog launches probe of Defense Secretary Pete Hegseth over use of Signal app
The use of the Signal messaging app by top Trump officials came to light after The Atlantic's editor was added to a group chat about planned Houthi strikes.CNBC - 2d -
Apple Leads Tech Stock Sell-Off After Trump Tariffs, Falling 9 Percent
The company counts on the sale of devices for three-quarters of its nearly $400 billion in annual revenue, and it makes almost all of its iPhones, iPads and Macs overseas.The New York Times - 2d -
Apple loses more than $300bn in market value from Trump tariff hit
iPhone maker one of Wall Street’s biggest casualties despite Tim Cook’s efforts to court US presidentFinancial Times - 2d -
Oil Producers Follow Trump’s Tariffs With a Surprise Increase
Saudi Arabia and other members of the OPEC Plus group accelerated their program to put more oil on the market, adding to a sharp fall in prices.The New York Times - 2d -
Stellantis idles plants in Mexico and Canada due to tariffs
About 900 U.S.-represented employees at supporting plants will be temporarily laid off, in addition to about 4,500 hourly workers at the Canadian plant.CNBC - 2d -
Nvidia positioned to weather Trump tariffs, chip demand 'off the charts,' says Altimeter's Gerstner
Altimeter Capital CEO Brad Gerstner told CNBC that he remains bullish on Nvidia despite President Trump's tariffs and their effect on the broader economy.CNBC - 2d -
Oil and metals prices fall on concerns about the global economy.
The combination of lower oil prices and higher costs for essential materials like steel pipe threatens to squeeze domestic oil and gas producers.The New York Times - 2d -
Tech stocks have worst day since Covid pandemic, led by plunge in Apple
Technology stocks plummeted Thursday after President Donald Trump's new tariff policies sparked widespread market panic.CNBC - 2d -
'Oh, sh—': RH CEO reacts live to stock tanking on tariffs, poor earnings
The executive also pointed out that the home furnisher has been contending with the "worst housing market in almost 50 years."CNBC - 2d -
Bitcoin slides to $81,000 as Trump tariffs jolt stock market
Bitcoin and other cryptocurrencies were under pressure Thursday after President Donald Trump's big tariffs reveal jolted the stock market.CNBC - 2d -
Small-cap benchmark Russell 2000 becomes first major U.S. stock measure to enter bear market
Small-cap stocks officially entered bear market territory on Thursday, seeing at least a 20% loss since their latest high.CNBC - 2d -
An Entrepreneur’s Action Plan for Surviving Trump’s Tariffs
Here are some practical strategies to pivot, protect your margins, and thrive in uncertain times.Inc. - 2d -
Southwest's bag fees and other changes could backfire, Fitch warns
The ratings agency put the airline on "negative" outlook, saying the company could become less financially conservative.CNBC - 2d -
It’s Official: The Duty-Free Exemption on Small Shipments From China Expires May 2
The rule exempts packages worth less than $800. It’s used by fast fashion giants Shein and Temu—and a lot of small American companies that drop-ship from overseas warehouses.Inc. - 2d -
Trump's tariffs leave gadget makers in crisis: 'I'm going to run out of appliances'
Consumer electronics companies reliant on manufacturing operations in China, Mexico and Canada are reeling from the uncertainty surrounding Trump's tariffs.CNBC - 2d -
‘Oh, Sh*t’: Entrepreneurs Are Hurting Over Trump’s Trade War
Wednesday’s so-called ‘Liberation Day’ unveiled sweeping tariffs that has left the world stunned. Founders are now trying to figure out how to navigate Trump’s choppy tariff waters.Inc. - 2d -
Trump's massive 46% Vietnam tariffs pummel Nike, American Eagle and Wayfair
The country became a popular alternative for furniture, apparel and toymakers trying to avoid the crossfire of U.S. trade tensions with BeijingCNBC - 2d -
The Job Market Has Been Resilient. The Trade War Could Be Its Undoing.
The U.S. economy has largely withstood inflation and high interest rates. But tariffs could bring new price increases and put a damper on hiring.The New York Times - 2d -
With Trump’s Tariffs, the Chasm Between Allies and the U.S. Widens
President Trump announced sweeping levies on countries across the world. The tariffs create a dilemma for longstanding friends — and an opportunity for foes.The New York Times - 2d -
Trump triggers race to offer US concessions before tariffs hit
Nations prepare offers to Washington including weapons deals, dropping their own tariffs and moves against ChinaFinancial Times - 2d