Global financial markets have been caught up in Donald Trump’s latest tariff announcement. It overthrew the value of the world’s largest companies and raised fears about a US recession.
In the US, the key indicator fell a day in five years, the worst day in five years as the president claimed that the market was booming in response to his sweeping tariffs.
The size of the sale only highlights how investors are worried about tariffs and the fears that could lead to a recession.
This is the important story at a glance:
Trump claims that “it’s going very well” as the market crashes
Despite the worst market crash in nearly five years, Trump told reporters that the turmoil presented the issue: “We think it’s working… we’ve never seen anything like that, and the market is booming.
Around 2.5 tonnes (£1.9tn) of Wall Street and stock prices in other financial centers around the world have been wiped out as world leaders responded to the US president’s “liberation day” tariff policy that destroys international trading orders.
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The US market is seeing its worst day since 2020
Zooming into the US stock market, all three major US funds were shut down during the community pandemic on its worst day since June 2020. The Tech Heavy Nasdaq fell 6%, while the S&P 500 and Dow fell 4.8% and 3.9% respectively. Two of the largest companies in the United States, Apple and Nvidia, are two of the market values, losing a total of $470 billion by noon.
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Republican Senate Rebels criticize tariffs as “bad policy”
The first indication of US political backlash over Donald Trump’s declaration of a global trade war has begun to emerge among tanking stock markets around the world, including Wall Street, and international criticism of the move has spread.
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Pete Hegses faces investigation of the signal
The Pentagon Watchdog is launching an investigation into the use of US Secretary of Defense Pete Hegses using encrypted messaging app signals to discuss sensitive information about Yemen’s military operations.
The investigation follows a bipartisan request from the Senate Armed Services Committee after allegations revealed that the intellect that the imminent, and perhaps classified, U.S. airstrikes in Yemen, including timing of the strike and aircraft models, are shared in Signal Group Chats with journalists.
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Trump fires staff after Laura Rumer urges him
Donald Trump fired six National Security Council staff after an extraordinary meeting in an oval office. There, far-right activist Laura Rumer presented opposition research to many staff members who showed that they were dishonest to the US president, according to two people familiar with the issue.
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Dr. Oz confirmed the role of Medicare and Medicaid in the cut plan
Dr. Mehmet Oz, a former cardiac surgeon and television pitchman, has been confirmed to lead the Centers for Medicare and Medicaid Services. Oz became the agent manager with a party lineage of 53-45 votes.
The 64-year-old will monitor Medicare, Medicaid and Affordable Care Act coverage to manage health insurance programs in about half of the countries. He step into a new role as Congress discusses cutting Medicaid programs.
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An English judge orders Trump to pay more than $800,000 in total costs
Donald Trump was ordered to pay more than £620,000 ($820,000) legal fees after a British judge failed a company that he had been denied allegations of participating in “perverted” sexual acts.
The US President has brought a data protection request against Orbis Business Intelligence, a consulting company founded in 2022 by former MI6 executive Christopher Steele.
Steele wrote a report that allegations that he was “compromised” by Russian security services — all rejected by Trump. Judge Steyn dumped the claim last February and told Trump to pay the first £290,000. Trump decided not to pay and was ordered to pay £626,058.98.
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What happened today:
Canada will retaliate against Trump’s “unfair, unfair” tariffs that involve a 25% tax on US vehicles, Prime Minister Mark Carney said. Taxes apply to vehicles that do not comply with the Continental Free Trade Agreement.
This method has been used to calculate the most important numbers of international trade, politics and economics, which shocked some of the world’s leading experts. Here’s how these were calculated:
JD Vance said Elon Musk will remain “friends and advisors” to the Vice President and Donald Trump after resigning from his current role in so-called “government efficiency.”
catch up? This is what happened on April 2, 2025.
