Here’s your evening 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. A lot is happening, right now I am still doing this alone (changing that soon), and your support keeps me caffeinated and going!
Now, let’s get into the news.
The S&P 500 closed down 4.8% and the Nasdaq 100 sank 5.4%, marking the worst trading day since 2020. The Dow tumbled over 1,642 points, while the Nasdaq lost more than 1,022 — all triggered by Trump’s new tariffs.
When asked how his tariff plan is going, Trump said things are going “very well,” comparing it to a major surgery — painful but necessary. He claimed the markets, stocks, and the entire country are all going to “boom” soon.
Under Trump’s China tariffs, iPhone prices could spike by as much as 43%, according to Reuters. That means a $799 iPhone 16 could jump to around $1,142.
France’s President Macron is calling on companies to hold off on investing in the U.S. for now.
Trump is taking steps to fire multiple National Security Council officials, reportedly over doubts about their loyalty—after Laura Loomer urged him to do it.
Whirlpool is cutting 651 manufacturing jobs at its facility in Amana, Iowa, according to the Des Moines Register.
The Trump administration has issued a directive requiring K-12 schools to certify compliance with federal civil rights laws and eliminate certain diversity, equity, and inclusion (DEI) practices to continue receiving federal funding.
Senators Chuck Grassley and Maria Cantwell just introduced the Trade Review Act of 2025, a bill aimed at reining in presidential power over tariffs. It would require the president to notify Congress within 48 hours of imposing new tariffs—and if Congress doesn’t approve them within 60 days, they’d automatically expire.
The Pentagon’s Inspector General has launched an investigation into Pete Hegseth’s involvement in the Signal group chat scandal.
Judge Boasberg said he believes the Trump administration acted “in bad faith” during the Alien Enemies Act deportations. He added that if they truly thought their actions were legal and would hold up in court, they wouldn’t have carried them out the way they did.
A federal judge in New York has rejected the Trump administration’s attempt to dismiss a lawsuit accusing the Department of Government Ethics (DOGE) of orchestrating a major breach of OPM data that impacted millions.
Thank you for everything.
— Aaron
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