Here’s your morning news rundown—but first, a quick thank you. If you believe in this kind of journalism, please consider subscribing or becoming a supporter. Every bit helps keep this work going strong.
Now, let’s get into the news.
China announced it will hit all U.S. imports with a 34% tariff starting April 10, firing back in response to President Trump’s escalating global trade war.
Stock futures plunged as China hit back with tariffs—S&P 500 futures dropped 2%, the Nasdaq 100 slid 2.3%, and Dow futures sank more than 1,000 points.
JPMorgan has raised the chances of a recession to 60%, according to the Wall Street Journal.
Trump assured investors that his policies aren’t going anywhere, while Secretary of State Rubio downplayed concerns, saying the markets will eventually adjust to U.S. tariffs.
Major U.S. banks continued to slide in premarket trading, extending earlier losses.
iPhones made in the U.S. could end up costing around $3,500, according to Wedbush, as rising tariffs put serious pressure on Apple’s business model. The firm warned that the tariffs represent a potential existential threat to the tech giant.
Oil prices tumbled 8% on Friday, hitting their lowest levels since 2021, as growing fears over the trade war sparked worries about serious damage to the global economy.
South Korea’s Constitutional Court has officially removed President Yoon Suk Yeol from office following his impeachment.
The latest jobs report blew past expectations, with 228,000 jobs added—well above the forecast of 140,000. However, the unemployment rate ticked up to 4.2%, slightly higher than the expected 4.1%.
Trump has just dismissed the head of the National Security Agency, Gen. Timothy Haugh, who also leads U.S. Cyber Command. His deputy at the NSA, Wendy Noble, was also removed.
Canadian Prime Minister Mark Carney declared that the era of steadily growing integration with the United States has come to an end.
Russell Brand has been formally charged with rape and two counts of sexual assault stemming from incidents between 1999 and 2005. According to the Metropolitan Police, the charges also include one count of oral rape and one count of indecent assault.
See you this evening.
— Aaron
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