Top 20 U.S. Business News Stories: Tariff Chaos, Market Crashes, and Corporate Shakeups
1. Trump’s Sweeping Tariffs Spark Global Trade Turmoil
President Donald Trump’s 10% universal tariff on imports and targeted levies (e.g., 34% on China, 24% on Japan) triggered a stock market crash, with the Dow plunging 2,231 points and the S&P 500 dropping 6% in a single day. Retaliatory measures from trade partners, including China’s 34% duty on U.S. goods, intensified fears of a global recession.
2. JPMorgan Warns of 60% Global Recession Risk
JPMorgan’s chief economist raised the likelihood of a global recession to 60% if Trump’s tariffs are fully implemented. The bank also downgraded petrochemical firms Dow and LyondellBasell due to China’s retaliatory tariffs.
3. S&P 500 Suffers Worst Two-Day Drop Since 2020
The S&P 500 lost 10% over two days, erasing $3 trillion in market value. Analysts compared the sell-off to Black Monday (1987), citing panic over escalating trade wars.
4. Apple Shares Plummet Amid China Tariff Threat
Apple stock fell 14% in two days after China announced tariffs. Evercore ISI noted 80% of Apple’s production is in China, exposing it to supply chain disruptions.
5. Unemployment Rises Despite Strong Job Growth
March payrolls added 228,000 jobs, beating expectations, but unemployment climbed to 4.2%. Analysts warn tariffs could push it to 5.3% by year-end.
6. VIX “Fear Gauge” Hits 15-Month High
The CBOE Volatility Index surged to 39.60, reflecting investor anxiety. The spike followed China’s tariff announcement and Trump’s threats of additional duties.
7. Boeing Withdraws Contract Offer Amid Strike
Boeing retracted a 30% wage hike proposal after failing to resolve a strike. The labor dispute compounds challenges for the aerospace giant amid tariff-related supply chain strains.
8. Marriott Pays $52 Million to Settle Data Breach Probes
Marriott agreed to a settlement after failing to safeguard customer data in multiple breaches. The deal mandates enhanced cybersecurity measures.
9. Form Energy Secures $405 Million for Long-Duration Battery
The startup raised funds to scale its iron-air battery technology, which promises 100 hours of energy storage—a potential game-changer for renewable energy.
10. Trump’s Golf Outing Amid Market Chaos Draws Criticism
While markets reeled, Trump golfed in Florida and attended a LIV Golf dinner. Democrats slammed his “leisure over leadership” approach during the crisis.
11. Germany’s Economy Shrinks for Second Straight Year
Germany’s contraction highlights Europe’s vulnerability to U.S. tariffs. Analysts warn EU retaliatory measures could deepen the slump.
12. GameStop Bets on Bitcoin Amid Stock Slide
GameStop raised $1 billion via convertible notes to invest in Bitcoin, despite shares falling 32% year-to-date. CEO Ryan Cohen increased his stake to 37.3 million shares.
13. FDA Warns Bakery Over Misleading Sesame Labels
A major bakery (producing Sara Lee and Entenmann’s) disputed FDA claims that it falsely labeled products as containing sesame. The dispute could impact allergen transparency.
14. U.S. Closes “De Minimis” Trade Loophole
Trump signed an order ending duty-free imports for packages under $800 from China and Hong Kong, targeting fentanyl and e-commerce giants like Shein.
15. Global Markets Face “Orderly but Severe” Sell-Off
Despite the Dow’s 2,200-point drop, traders noted calm in market mechanics. However, analysts warned of prolonged volatility as tariffs take effect.
16. Petrochemical Firms Downgraded Amid Trade War
JPMorgan cut ratings for Dow and LyondellBasell, citing China’s tariffs on U.S. polyethylene. Both stocks fell over 3% in premarket trading.
17. Trump Considers Expanding Tariffs to Semiconductors
The administration may impose additional duties on semiconductors and pharmaceuticals, heightening risks for tech and healthcare sectors.
18. CEOs Brace for Earnings Season Uncertainty
Jim Cramer noted upcoming earnings reports will reveal how companies are mitigating tariff impacts. Banks like JPMorgan and Goldman Sachs kick off the season next week.
19. Consumer Prices Set to Rise 2% in 2025
Analysts predict tariffs will add 2% to inflation, squeezing households already grappling with high grocery and energy costs.
20. Political Divide Over Tariff Strategy Widens
Democrats criticized Trump’s policies as “economically reckless,” while Republicans largely backed the protectionist measures. The debate could shape 2024 election dynamics.
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