{"id":132564,"date":"2025-04-05T11:47:01","date_gmt":"2025-04-05T11:47:01","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/trump-live-updates-historic-stock-plunge-after-tariff-announcement-leaves-americans-rattled-the-independent\/"},"modified":"2025-04-05T11:47:01","modified_gmt":"2025-04-05T11:47:01","slug":"trump-live-updates-historic-stock-plunge-after-tariff-announcement-leaves-americans-rattled-the-independent","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/trump-live-updates-historic-stock-plunge-after-tariff-announcement-leaves-americans-rattled-the-independent\/","title":{"rendered":"Trump live updates: Historic stock plunge after tariff announcement leaves Americans rattled – The Independent"},"content":{"rendered":"

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Trump\u2019s trade war escalates as China strikes back with 34 percent tariffs on all U.S. goods, sending stock markets plummeting and wiping out $6 trillion in two days
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Ending a historically bad week, stock markets<\/a> <\/a>plunged further across the world on Friday, and the risk of a U.S. recession<\/a> rose as President Donald Trump<\/a> tried to defend his sweeping global tariff<\/a> agenda.
Having already insisted to reporters that the rollout of tariffs<\/a> on all American trading partners was \u201cgoing very well\u201d, he posted on Truth Social<\/a> on Friday: \u201cONLY THE WEAK WILL FAIL!\u201d as $6 trillion in value was wiped out <\/a>in two days.
On Friday morning, Trump dismissed China<\/a>\u2019s 34 percent retaliatory tariff against American goods, saying they had \u201cPLAYED IT WRONG\u201d and \u201cPANICKED.\u201d It is unclear what he meant by that.
He later revealed he was negotiating with Vietnam<\/a>, a major source of U.S. imports, over the tariff rate he set for them. The president also implored Federal Reserve Chairman Jerome Powell<\/a> to cut interest rates<\/a>.
At the closing bell on Wall Street<\/a>, investors looked back on a bloodbath of a day. The Dow Jones Industrial Average<\/a> was down more than 2,200 points and the S&P 500<\/a> had lost 6% of its value.
While Americans fretted about their retirement plans and the prospect of slower growth and higher inflation, the president spent the day at his golf club.<\/a>
The Social Security Administration<\/a> is reportedly drafting plans to lay off thousands more employees overseeing benefits for the nation\u2019s seniors as part of Elon Musk<\/a>\u2019s Department of Government Efficiency<\/a> initiative, even as it has struggled with reports of poor customer service following the loss of 7,000 workers who have left or been fired from the agency already this year.
Under the direction of Musk\u2019s U.S. DOGE Service, the agency is looking at cuts across a variety of departments, including communications, personnel, legislative affairs, and retirement and disability policy.
\u201cIt\u2019s just cut, cut, cut,\u201d an official told<\/a> The Washington Post<\/em>, which reported on the plan.
Josh Marcus <\/strong>reports.
Amid an ongoing market selloff<\/a> and economists increasingly forecasting a global recession due to Donald Trump\u2019s crippling across-the-board tariffs<\/a>, the president\u2019s loyalists at Fox News have been desperately searching<\/a> for ways to positively spin the fears of a financial crash.
During Friday\u2019s broadcast of Fox News\u2019 midday roundtable show Outnumbered<\/em>, co-host Emily Compagno tried out a new talking point: the president was merely doing an \u201caudit\u201d that the United States needed.
Justin Baragona <\/strong>has the story.
Tech billionaires<\/a> who cozied up to Donald Trump were some of the biggest losers – shedding billions in net worth and values of their companies – in Thursday\u2019s stock market losses as Wall Street reacted to the president\u2019s tariff plan.
Worse news came on Friday, as Josh Marcus<\/strong> and Katie Hawkinson<\/strong> report.
President Donald Trump<\/a>‘s administration acted to roll back environmental protections around future logging projects on more than half of U.S. national forests under an emergency designation Friday that cites the dangers of wildfires.
Whether the move will boost production remains to be seen. Former President Joe Biden<\/a>‘s administration also sought to ramp up logging on public lands to combat fires that are worsening as the world gets hotter, yet U.S. Forest Service timber sales dipped under the Democrat’s tenure.
Continue reading…<\/em>
Peter Edwell <\/em><\/strong>writes:<\/em>
Tariffs<\/a> are back in the headlines this week, with United States<\/a> President Donald Trump<\/a> introducing sweeping new tariffs of at least 10 per cent on a vast range of goods imported to the US. For some countries and goods, the tariffs will be much higher.
Analysts have expressed shock and worry, warning the move could lead to inflation<\/a> and possibly even recession for the US.
As someone who\u2019s spent years researching the economy of Ancient Rome<\/a>, it all feels a shade familiar.
Read on…<\/em>
James Moore <\/em><\/strong>writes: <\/em>
You\u2019d be forgiven for not noticing amid all the Donald Trump-induced chaos<\/a> from the introduction of some of the highest tariffs<\/a> in more than a century, which triggered stock market plunges<\/a><\/a> not seen since the Covid lockdown. But First Buddy Elon Musk has had almost as reputation-crushingly bad a week as his boss.
Continue reading…<\/em>
Defense Secretary Pete Hegseth<\/a> will travel to Panama<\/a> next week to meet with leaders of the Central American country following recent Trump administration allegations of Chinese<\/a> interference in the operations of the critical Panama Canal shipping lane.
President Donald Trump<\/a> has complained about the U.S. relinquishing control of the waterway to Panama more than 20 years ago and has threatened to retake it, arguing that the U.S. was being overcharged for using it. Panama\u2019s government has denied Trump’s assertion that China exerts influence over the canal.
Read on…<\/em>
Katie Hawkinson writes:<\/em>
A former Trump administration<\/a> official and ex-CIA agent has revealed why he believes current Cabinet members used the publicly available app Signal to discuss Yemen attack plans<\/a>, rather than a more secure system.
Kevin Carroll, who previously served under President Donald Trump<\/a> in his first term and as a CIA officer, wrote an op-ed for The Guardian<\/em><\/a> arguing National Security Adviser Mike Waltz, Defense Secretary Pete Hegseth,<\/a> and other administration officials use Signal to ensure their communication isn\u2019t discoverable in legal battles or subject to information requests.
Read more:
The Social Security Administration<\/a> is reportedly drafting plans to lay off thousands more employees overseeing benefits for the nation\u2019s seniors as part of Elon Musk<\/a>\u2019s Department of Government Efficiency<\/a> initiative, even as it has struggled with reports of poor customer service following the loss of 7,000 workers who have left or been fired from the agency already this year.
Under the direction of Musk\u2019s U.S. DOGE Service, the agency is looking at cuts across a variety of departments, including communications, personnel, legislative affairs, and retirement and disability policy.
\u201cIt\u2019s just cut, cut, cut,\u201d an official told<\/a> The Washington Post<\/em>, which reported on the plan.
Josh Marcus<\/strong> has the story.
Josh Marcus writes:<\/em>
Donald Trump<\/a> did not attend a Friday ceremony in Delaware where U.S. officials accepted the remains of four soldiers who died during a training accident<\/a> in Lithuania last month.
Instead, the president has been in Florida since yesterday, where he celebrated the beginning of a three-day tournament of the Saudi-backed LIV Golf series at one of his golf courses, then was set for a Friday fundraising dinner<\/a> at his Mar-a-Lago estate.
\u201cThe Secretary of Defense will represent the Administration at the dignified transfer for the four brave U.S. service members who tragically died during a training exercise in Lithuania,\u201d the White House told<\/a> The Hill<\/em>.
Read more:
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Notifications can be managed in browser preferences.Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inTrump\u2019s trade war escalates as China strikes back with 34 percent tariffs on all U.S. goods, sending stock markets plummeting and wiping out $6 trillion in […]<\/p>\n","protected":false},"author":1,"featured_media":132565,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-132564","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world","entry"],"_links":{"self":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/132564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/comments?post=132564"}],"version-history":[{"count":0,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/132564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media\/132565"}],"wp:attachment":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media?parent=132564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/categories?post=132564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/tags?post=132564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}