Stocks’ sell-off worsens as Wall Street wonders how much pain Trump will accept for the economy
It was the worst day yet in a scary stretch where the S&P 500 has swung more than 1%, up or down, seven times in eight days.
Associated Press
Articles
China strikes back at Trump tariffs with 15% levies targeting farmers
The Chinese tariffs, announced last week, were a response to Trump’s decision to double the levy on Chinese imports to 20% on March 4.
Stock sell-off worsens as Wall Street wonders how much pain Trump will accept for economy
The worry is that the whipsaw moves will either hurt the economy directly or create enough uncertainty to drive U.S. companies and consumers into an economy-freezing paralysis.
Ontario slaps 25% tax increase on electricity exports to U.S.
Ontario provides electricity to Minnesota, New York and Michigan. Quebec is also considering taking similar measures with electricity exports to the U.S.
Rubio says purge of USAID programs complete, with 83% of agency’s programs gone
Secretary of State Marco Rubio said the programs “spent tens of billions of dollars in ways that did not serve, (and in some cases even harmed), the core national interests of the United States.”
Trump downplays business concerns about uncertainty from his tariffs and prospect of higher prices
On Wall Street, it was a tough week with wild swings dominated by worries about the economy and uncertainty about Trump’s tariffs.
Facing competition from Big Tech, states dangle incentives, loosen laws to attract power plants
The spike in demand for electricity is being driven, in large part, by the artificial intelligence race as tech companies are snapping up real estate and seeking power to feed their energy-hungry data centers.
New EPA guidance says spending items greater than $50,000 must get OK from DOGE
The guidance, issued this week, escalates the role that the new efficiency group, known as DOGE, plays in EPA operations.
Powell: Fed to stay on hold amid widespread economic uncertainty
Federal Reserve Chair Jerome Powell said the economy remains mostly healthy despite “elevated uncertainty.”
Formula 1 approves Cadillac to join series as 11th team in 2026
Cadillac F1, owned by General Motors and Indianapolis-based TWG Motorsports, anticipates being distinctively American, with the possibility of IndyCar driver Colton Herta in the two-car lineup.
Homeland Security ends collective bargaining agreement with TSA staffers
The Transportation Security Administration has about 50,000 staffers—called transportation safety officers—at airports around the country.
Target under 40-day boycott over decision to end DEI initiatives
Organizers of the “Target Fast” urged people who take part to stop shopping at Target and instead redirect their dollars to Black-owned businesses.
Trump signs executive order to establish government bitcoin reserve
Establishing a bitcoin reserve was one of several crypto-related promises President Donald Trump made on the campaign trail last year.
Walgreens agrees to be acquired by private equity firm for almost $10B
A buyout to take the drugstore chain private would give it more flexibility to make changes to improve its business without worrying about Wall Street’s reaction. Walgreens has been a public company since 1927.
UPDATE: Trump changes course, delays some tariffs on Mexico, Canada
Also Thursday, Canadian Prime Minister Justin Trudeau indicated that he expects his country will be in a trade war with the United States for the foreseeable future.
Mortgage rates have declined but could stay at level that makes it tough to afford home
The average rate on a 30-year mortgage in the U.S. has declined six weeks in a row, according to mortgage buyer Freddie Mac.
Number of Americans filing for jobless benefits falls as labor market remains sturdy
The unemployment rate ticked down to an even 4%, signaling a still very healthy labor market.
Toys expected to cost more by fall due to new tariffs on Chinese imports
Nearly 80% of the toys sold in the U.S. are sourced from China, according to The Toy Association, a national industry group.
U.S. charges Chinese hackers, government officials in broad cybercrime campaign
The indictments come as the U.S. government has warned of an increasingly sophisticated cyber threat from China.
Google leans further into AI-generated overviews for its search engine
The stage is also being set for what could turn out to be one of the most dramatic changes to the search engine’s interface since Google’s co-founders started the company in a Silicon Valley garage during the late 1990s.