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Elon Musk Lost $16 Billion Yesterday | Morning News Rundown

Elon Musk lost $16 billion yesterday, Donald Trump will soon declare a national emergency on electricity, recession fears grow to their highest point in 2025, and more.

Good morning! It is March 11th and here is your morning news breakdown. This week I will do a paid subscriber live likely tomorrow night around 8 PM EST. With that, if you want to join either or to just support my work, please consider becoming a paid subscriber today:

With that, here is all the news you missed:

  • Donald Trump, in an attempt to show a sign of support for Elon Musk, announced that he would be purchasing a Tesla today, one day after Tesla saw a dramatic decline in stock value.

  • Donald Trump will soon be declaring a national emergency on electricity. The details remain unclear.

  • Elon Musk lost over $16 billion yesterday as Tesla shares plunged more than 15%, bringing their total decline since December 23 to over 53% and wiping out $700 billion in market value, according to Axios.

  • CNBC's Jim Cramer believes investors shouldn't be scared by the market sell-off.

  • BCA Research warns that DOGE and tariffs are pushing the U.S. economy into recession, according to CNBC.

  • The ‘Fear & Greed’ Index is approaching ‘Extreme Fear’ levels last seen in March 2020, when stocks crashed at the start of the pandemic.

  • The United States has been added to a human rights watchlist due to declining civil liberties, according to TIME.

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  • According to Bloomberg, Vladimir Putin has set deliberately extreme demands for ending the war in Ukraine, including Ukraine’s neutrality, demilitarization, and recognition of Russian-annexed territories—terms unlikely to be accepted by Kyiv or Europe, according to Western security officials cited by Bloomberg. This raises the possibility that Trump, if negotiating a deal, would have to either accept all of Putin’s terms or walk away, both of which could strain U.S.-Europe relations and leave Ukraine to fight without U.S. support.

  • The Philippine government announced that former President Rodrigo Duterte was arrested at Manila airport on an ICC arrest warrant for crimes against humanity and war crimes.

  • ​The federal government's program providing free at-home COVID-19 tests has been suspended and is no longer accepting orders as of March 9, 2025

See you this evening.

— Aaron