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🔵 Market Crashes
Citizen Frank
April 03, 2025
Good morning. It’s Thursday, April 3.
Stocks nosedived Thursday, sending the S&P 500 back into correction territory, after President Donald Trump unveiled sweeping tariffs of at least 10% for some countries. The news intensified a recent sell-off and raised the risk of a global trade war that hits the already sputtering U.S. economy.
The broad market index dropped 4%, putting it on track for its worst day since September 2022. The Dow Jones Industrial Average tumbled 1,300 points, or 3%, while the Nasdaq Composite fell 5%. The slide across equities was broad, with decliners at the New York Stock Exchange outnumbering advancers by six to one.
Thursday’s moves sent the S&P 500 to its lowest level since before Trump’s election win in November, and also erased nearly $2 trillion from the index.
President Donald Trump reportedly fired multiple officials on his National Security Council shortly after he met with Laura Loomer in the Oval Office.
The president met with Loomer, a self-described “investigative journalist,” on Wednesday. Loomer has publicly accused Trump administration staffers of disloyalty and said there have been vetting failures at the NSC and elsewhere through various posts on X.
The New York Times reported Loomer discussed NSC staffers she said were disloyal. National security adviser Mike Waltz was present at the meeting.
Just 72 days after taking office, President Donald Trump announced on April 2 sweeping trade policy changes, introducing what he called “reciprocal tariffs” for all countries and declaring it “Liberation Day in America.”
For decades, the United States has kept low trade barriers, promoting free trade agreements with minimal or zero tariffs—at least on its part. Those days are now over.
At a White House event, Trump presented a large chart outlining baseline and reciprocal tariff rates trading partners now face in attempts to balance their high trade barriers against U.S. goods. The rates include a flat 10 percent levy, along with additional rates tailored to match each nation’s trade barriers on America.
Ontario Premier Doug Ford said Wednesday on CNBC’s “Squawk Box” that if President Donald Trump removes tariffs, Canada will drop all of their tariffs.
Host Andrew Ross Sorkin said, “Do you expect this to be a negotiation? meaning there has been a sense, implied or otherwise, that we’re going to hear a number, whether it’s 20% or something else, as a sort of top, and that if folks like yourself come forward and say, you know what, we’re going to take some tariffs off of this and we’re going to do this, perhaps that those tariff numbers come down?”
Ford said, “Well, let’s hope so. Let’s sit down and discuss this because it’s just going to hurt American jobs. I can’t stress it enough and you know again he believes he’s supporting Americans. He said he was going to create jobs, create wealth, reduce inflation it’s worked the total opposite.”
A Texas high school star athlete was stabbed in the heart and left to die in his loving twin brother’s arms following a fight over a seat at a track meet, the boy’s heartbroken father said.
Austin Metcalf was attending a track and field championship between other area schools at Kuykendall Stadium in Frisco, Texas, when the fatal attack happened on April 2.
Metcalf, a junior at Frisco ISD’s Memorial High School, was in the stands at the stadium when a confrontation broke out between the teen and 17-year-old Karmelo Anthony.
Hamas quietly removed the names of thousands of Palestinians it had previously alleged were killed during the Israel-Hamas war, Salo Aizenberg, from the US-based non-profit organisation Honest Reporting told The Telegraph on Tuesday after analyzing Hamas’s March 2025 casualty update.
Hamas has previously claimed that 70% of casualties have been women and children, a claim no longer reflected in their recently updated lists, according to the research. Approximately 72% of fatalities between the ages of 13-55 are men – the demographic category aligns with Hamas combatants.
“Hamas’s new March 2025 fatality list quietly drops 3,400 fully ‘identified’ deaths listed in its August and October 2024 reports – including 1,080 children. These ‘deaths’ never happened. The numbers were falsified – again,” Aizenberg asserted.
National security adviser Mike Waltz’s team regularly set up chats on Signal to coordinate official work on issues including Ukraine, China, Gaza, Middle East policy, Africa and Europe, according to four people who have been personally added to Signal chats.
Two of the people said they were in or have direct knowledge of at least 20 such chats. All four said they saw instances of sensitive information being discussed.
It’s a more extensive use of the app than previously reported and sheds new light on how commonly the Trump administration’s national security team relies on Signal, a publicly available messaging app, to conduct its work.
New York City Mayor Eric Adams will run for reelection as an independent, opting out of the Democratic primary just one day after a federal judge dismissed corruption charges against him.
“I have always put New York’s people before politics and party — and I always will. I am running for mayor in the general election because our city needs independent leadership that understands working people,” Adams said in a Thursday morning post on X.
The news comes after bribery and wire fraud charges against Adams were permanently dismissed by a judge on Wednesday. Adams was indicted in September after prosecutors alleged that he received more than $100,000 worth of plane tickets and luxury hotel stays from Turkish nationals for nearly a decade as he was serving in local government.
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