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Trump says things are 'going very well' after worst stock market drop in years over tariffs

President Donald Trump offered a rosy assessment after the stock market dropped sharply Thursday over his tariffs, saying, "I think it's going very well." "The markets are going to boom, the stock is going to boom, the country is going to boom," he said when asked about the market as he left the White House to fly to one of his Florida golf clubs. The Dow Jones Industrial Average dropped more than 1,600 points on Thursday as U.S. stocks led a worldwide selloff after the Rep ...

BumRushDaShow

Trump administration is months away from direct payments to farmers, agriculture secretary says

April 3, 2025 12:24 PM EDT Updated 5 hours ago April 3 (Reuters) - U.S. Agriculture Secretary Brooke Rollins said on Fox News on Thursday the Trump administration is "months away" from making a decision about whether to make payments to farmers to offset any impact from tariffs. President Donald Trump on Wednesday announced sweeping tariffs that were mostly criticized by farm and food groups for their potential to shrink markets for farmers and raise prices for consumers. Rollins h ...

LetMyPeopleVote

Senate confirms Mehmet Oz to lead Medicaid and Medicare

Dr. Mehmet Oz, a television personality and failed U.S. Senate candidate, was confirmed Thursday as administrator of the Centers for Medicare and Medicaid Services in a largely bipartisan vote. The Senate confirmed Oz in a party line vote of 53-45. At least one Republican changed their mind on Oz this week. Sen. Josh Hawley of Missouri, who had publicly opposed Oz’s nomination, said Monday that he would back the doctor after being reassured that Oz “now disavows his previous support for trans ...

BumRushDaShow

'We're All Dead': GOP Senator Reacts To Trump Tariffs

Apr 3, 2025, 02:55 PM EDT Sen. John Kennedy (R-La.) wasn’t concerned enough about President Donald Trump’s steep international tariffs to vote against them Wednesday — like some of his GOP colleagues — but did scold staunch supporters of the policy with a dire warning to multiple outlets. “In the long run, we’re all dead,” he told CNN’s Manu Raju on Capitol Hill for “The Lead with Jake Tapper” on Wednesday. “Short run matters, too. Nobody knows what the impact of these tariffs is going to be ...

MayReasonRule

Judge Boasberg says he's contemplating 'contempt proceedings' over Trump deportations

Nearly three weeks after President Donald Trump invoked the Alien Enemies Act to remove more than 200 alleged migrant gang members to El Salvador with little-to-no due process, a federal judge on Thursday is considering whether the Trump administration defied his court order by deporting the men. U.S. District Judge James Boasberg said at a hearing Thursday that he is contemplating initiating "contempt proceedings" against the government in the event he finds probable cause they delib ...

BumRushDaShow

Trump Tariffs Set to Wipe Out Nearly $2 Trillion From US Stocks

(Bloomberg) Roughly $1.7 trillion is set to be erased from the S&P 500 Index when trading opens Thursday amid worries that President Donald Trump’s sweeping new round of tariffs could plunge the economy into a recession. Few stocks in the US were unscathed with the biggest ETF tracking the S&P 500 on pace for its biggest decline since 2022. More than 90% of companies in the S&P 500 were trading lower at 8 a.m. in New York, with over half of its 500 stocks down at least 2% in premarket trading.

Dennis Donovan

Trump's tariffs to lift companies' costs and hurt exports

(Reuters) Businesses around the globe on Thursday faced up to a future of higher prices, trade turmoil and reduced access to the world's largest market after U.S. President Donald Trump confirmed their worst fears by instituting broad tariffs worldwide. Trump ramped up his trade war with tariff rates from 10% to nearly 50%. He says the levies will bring jobs back to the United States - but company executives were focused on possibly raising prices, reducing shipments, or cutting back investment activity outright.

Yo_Mama_Been_Loggin

Trump's first 50 days mark one of the worst starts for the S&P 500 under any presidency

(Yahoo Finance) The Trump 2.0 stock market is off to one of the worst starts of any presidency since 1950. New data crunched by SunDial Capital Research strategist Jason Goepfert on Wednesday shows the market's response to President Trump since the inauguration is among the bottom of all presidents since 1950. In the first 50 trading sessions since Inauguration Day, the S&P 500 (^GSPC) has dropped about 6.4%. The only two worse starts were Richard Nixon's first 50 days (-7.2%) and George W. Bush's (-13.6%).

dalton99a

DOGE drove layoff announcements to their third-highest-ever level in March

(CNN) More than 275,000 layoffs were announced last month, reaching a level not seen since the pandemic, according to a new report published Thursday. The biggest culprit was one particular employer: The federal government. The federal government announced plans to axe 216,215 jobs, accounting for nearly 80% of the 275,240 layoffs announcements made by US employers in March, according to Challenger Gray & Christmas’ latest report. It’s the third-highest monthly total behind April 2020 (671,129) and May 2020 (397,016).

Dennis Donovan

The Economist - 22 weeks apart

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Trump says China "played it wrong" in response to his tariffs

6 min ago - President Donald Trump said that China “panicked” in response to his tariffs after the nation said today it will impose 34% reciprocal tariffs on imports of US goods. “CHINA PLAYED IT WRONG, THEY PANICKED - THE ONE THING THEY CANNOT AF ... (CNN)

'Free Le Pen!': Vance, Trump, Musk rally behind France's far-right leader

7 min ago - The three voiced their support for French far-right leader Marine Le Pen after she was convicted for embezzling €4.6 million in public funds and barred from running for office for five ... She was convicted on Monday of misappropriating Europea ... (France24)

IMF warns of 'significant risk' to global economy from Trump tariffs as markets plunge

11 min ago - Fri 4 Apr 2025 03.51 EDT Last modified on Fri 4 Apr 2025 09.51 EDT The International Monetary Fund (IMF) has warned that Donald Trump’s implementation of swingeing tariffs poses a “significant risk” to the global economy, as stock mark ... (The Guardian)

Poll: AOC leads Schumer in head-to-head New York primary matchup by double digits

32 min ago - Alexandria Ocasio-Cortez is leading Chuck Schumer by double digits in a new head-to-head poll of the 2028 New York primary. The survey by the liberal firm Data for Progress, first shared with POLITICO, found that 55 percent of Democratic likely voter ... (Politico)

Social Security targets tech team for cuts at a time when systems are under strain

33 min ago - Published 6:00 AM EDT, Fri April 4, 2025 CNN — The Social Security Administration plans to slash its technology team by nearly one-third at a time when the agency’s complex and fragile computer systems are crashing more often. Top executi ... (CNN Politics)

A stunning number of electric vehicle, battery factories are being canceled

48 min ago - A stunning number of electric vehicle, battery factories are being canceled Story by Shannon Osaka • 3h • 4 min read https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1ChPpn.img A stunning number of electric vehicle, battery factori ... (Washington Post, via MSN)

Social Security faces thousands more job cuts even with service in tailspin

52 min ago - Social Security faces thousands more job cuts even with service in tailspin The agency has already seen 7,000 job losses from dramatic cost-cutting efforts by Trump and Musk -- even as they promise no benefit reductions. April 4, 2025 at 5:00 a.m. ED ... (Washington Post)

Top Democrats protest after reported firing of National Security Agency director

1 hr ago - Updated 12:33 AM EDT, April 4, 2025 WASHINGTON (AP) — Top congressional Democrats on Thursday protested the reported firing of Gen. Tim Haugh as director of the National Security Agency, with one lawmaker saying the decision “makes all of u ... (AP)

U.S. payrolls rise by 228,000 in March, but unemployment rate increases to 4.2%

1 hr ago - Published Fri, Apr 4 2025 8:31 AM EDT Updated 5 Min Ago Job growth was stronger than expected in March, providing at least temporary reassurance that the labor market is stable, the Labor Department reported Friday. Nonfarm payrolls increased 228,00 ... (CNBC)

Trump administration fires staff of program that helps low-income homes pay for heat

2 hrs ago - April 3, 2025, 8:13 PM The Trump administration has laid off the entire staff of a $4.1 billion program that helps millions of low-income households pay for heat during the winter, unnerving state officials who are now wondering whether they will sti ... (ABC News/AP)

Trump administration fires director of National Security Agency

2 hrs ago - The Trump administration has fired the director and deputy director of the National Security Agency, the United States’ powerful cyber intelligence bureau, according to members of the Senate and House intelligence committees and two former offic ... (CNN)

Kamala Harris On Trump: 'I'm Not Gonna Say I Told You So'

2 hrs ago - Apr 3, 2025, 11:00 PM EDT Former Vice President Kamala Harris on Thursday pointed out that she warned voters about what would happen under President Donald Trump’s administration. “There were many things we knew were gonna happen,” sai ... (Huff Post)

Dow futures plumet 1,200 points after China tariff announcement; European stocks tank

2 hrs ago - The Dow futures are currently trading 1,200 points lower, while futures linked to the S&P 500 and the tech-heavy Nasdaq are down 140 points and 570 points, respectively. As of Thursday's closing, all major benchmark indices in the US have either ... (CNBC)

Tech moguls who grinned behind Trump at inauguration lose billions in wake of his tariffs announcement

3 hrs ago - Friday 04 April 2025 00:15 BST Tech billionaires whose companies donated millions of dollars to Donald Trump lost billions of dollars on Thursday, as the stock market plunged in reaction to his sweeping “Liberation Day” agenda of worldwide ... (The Independent)

China to impose 34% retaliatory tariff on all goods imported from the U.S.

3 hrs ago - Published Fri, Apr 4 2025 6:22 AM EDT Updated 3 Min Ago China's finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10, following duties imposed by U.S. President Donald Trump's administr ... (CNBC)

US Health Dept may ask fired staff to keep working, reinstate others

3 hrs ago - April 3, 2025 6:32 PM EDT Updated 9 hours ago WASHINGTON, April 3 (Reuters) - Thousands of employees fired this week from the Department of Health and Human Services and the public health agencies it oversees may be asked to temporarily continue work ... (Reuters)

South Korea president Yoon Suk Yeol removed from office after court upholds impeachment

3 hrs ago - South Korea’s suspended president, Yoon Suk Yeol, has been removed from office after the country’s constitutional court voted unanimously to uphold parliament’s decision to impeach him over his ill-fated declaration of martial law in D ... (The Guardian)

Trump claims Starmer is 'very happy' about tariffs imposed on Britain

3 hrs ago - Donald Trump has claimed that the UK is “very happy” with tariffs imposed on the country as part of his shock upending of global trade, but the British foreign secretary, David Lammy, said he regretted the “return to protectionism” ... (The Guardian)

The Axe Rises Over Medicare and Medicaid

4 hrs ago - April 3, 2025 6:00 p.m. Earlier this week I noted the fact that the Center for Medicare and Medicaid Services had been oddly immune thus far to the DOGE axe, not just compared to other HHS divisions and agencies but across almost the entire federal ... (Talking Points Memo)

Mark Carney Warns 'Pain' and 'Damage' Coming for Americans

4 hrs ago - Published Apr 03, 2025 at 12:45 PM EDT | Updated Apr 03, 2025 at 5:39 PM EDT Canadian Prime Minister Mark Carney warned that Americans will experience "damage" and "pain," during a Thursday announcementthat his country will impose retaliatory tariffs ... (Newsweek)