Dow drops 1,400 as US stocks lead worldwide sell-off after Trump's tariffs ignite a COVID-like shock
Everything from crude oil to Big Tech stocks to the value of the U.S. dollar against other currencies fell. Even gold, which has hit records recently as investors sought something safer to own, pulled lower. Some of the worst hits walloped smaller U.S. companies, and the Russell 2000 index of smaller stocks dropped 5.9% to pull it more than 20% below its record.Wall Street had long assumed Trump would use tariffs merely as a tool for negotiations with other countries, rather than as a long-term policy. But Wednesday’s announcement may suggest Trump sees tariffs more as helping to solve an ideological goal than just an opening bet in a poker game. Trump on Wednesday talked about wresting manufacturing jobs back to the United States, a process that could take years.
If Trump follows through on his tariffs, stock prices may need to fall much more than 10% from their all-time high in order to reflect the recession that could follow, along with the hit to profits that U.S. companies could take. The S&P 500 is now down roughly 11% from its record set in February.
“Markets may actually be underreacting, especially if these rates turn out to be final, given the potential knock-on effects to global consumption and trade,” said Sean Sun, portfolio manager at Thornburg Investment Management, though he sees Trump’s announcement on Wednesday as more of an opening move than an endpoint for policy.
https://apnews.com/article/stocks-markets-rates-tariffs-52dbb020a4c41122e31669c2da236d67
like this
Bernie & AOC
like this
I mean...
step 1) teach your kids about Leopold and repair that shit.
step 2) actually do some shit about the US instead of lip service?
idk
Trump’s new tariff math looks a lot like ChatGPT’s | ChatGPT, Gemini, Grok, and Claude all recommend the same “nonsense” tariff calculation.
Summary
Trump’s new tariffs, including a 10% baseline on all imports and sharply higher rates on select countries, appear based on a simplistic formula: divide the U.S. trade deficit by total imports from a country, then halve the result.
Economists like James Surowiecki call the method “extraordinary nonsense,” yet major AI chatbots, including ChatGPT, suggest similar calculations when asked how to fix trade deficits.
Though the White House denies using AI, the overlap raised alarms.
Markets tumbled, and global observers await the tariffs’ implementation on April 5.
Trump’s new tariff math looks a lot like ChatGPT’s
ChatGPT, Gemini, Grok, and Claude all recommend the same, simple tariff calculation that the White House appears to have used.Dominic Preston (The Verge)
Trump to fire several national security officials over loyalty concerns, per reports
https://www.kmbc.com/article/trump-fires-nsc-officials-loomer-influence/64377290
Samsung turns to China to boost its ailing semiconductor division
The South Korean electronics group revealed last month that the value of its exports to China jumped 54 percent between 2023 and 2024According to the consultancy SemiAnalysis, Samsung is the “biggest supplier of HBM into China,” which is used in Huawei’s Ascend 910 series of AI chips.
The South Korean group’s contract chipmaking business also partnered with Kunlun to produce the Core P800, an AI chip released in February that also incorporates Samsung HBM.
Samsung turns to China to boost its ailing semiconductor division
Samsung’s contract chipmaking business has struggled to secure big US customers.Financial Times (Ars Technica)
'Trust in President Trump,' White House says, defending his tariffs amid backlash
'Trust in President Trump,' White House says, defending his tariffs amid backlash
The president himself had no scheduled public events.Alexandra Hutzler (ABC News)
Bernstein Posits That A 10 Percent Baseline US Tariff On Raw Semiconductors Is "Not Going To Do All That Much," But PCs, Servers, And Smartphones Are About To Get Pricier By ~40 Percent
Trump’s Liberation Day: Bernstein Posits That A 10 Percent Baseline US Tariff On Raw Semiconductor…
President Trump's Liberation Day has come and gone, and markets around the globe are predictably reeling from the impact.Wccftech
They absolutely could. What matters is what other countries do in response.
As an American, I'm not happy right now because things are more expensive without a good reason. Tariffs just end up being a hidden sales tax, and that sucks. We don't need more manufacturing jobs here unless we can do it cheaper or better. Keep good paying jobs here and send the lower paying jobs where they'll be appreciated.
Stock markets plummet after Trump’s tariffs with Dow losing 1,500 points and NASDAQ targeting record-bad day
‘This is the reordering of fair trade,’ Commerce Secretary Howard Lutnick said before the stock market tanked at open
China’s push for chip independence continues with its first RISC-V server CPU
China is doubling down on the RISC-V architecture.
Hungary to withdraw from International Criminal Court as it hosts Benjamin Netanyahu
Benjamin Netanyahu, sought under an ICC arrest warrant, arrived in Hungary on Thursday
Archived version: archive.is/newest/independent.…
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
Hungary says it is withdrawing from International Criminal Court as it hosts Benjamin Netanyahu
The Israeli prime minister, sought under an ICC arrest warrant, arrived in Hungary on ThursdayAnita Komuves (The Independent)
The simple math behind Trump’s tariffs: How the White House calculated the new rates and why it’s not reciprocal at all
With the help of a large chart, the president unveiled his latest wave of tariffs on Wednesday, on what he called ‘Liberation Day’
K-pop show mired in child exploitation controversy
The show "Under15" attracted criticism in South Korea for encouraging children aiming to be the next K-Pop prodigy to dress, sing and perform the provocative routines of established stars.
US | Federal court permanently dismisses corruption charges against NYC mayor
The US District Court for the Southern District of New York dismissed a corruption indictment against New York City Mayor Eric Adams on Wednesday. This ruling comes in response to a motion filed in February by the Department of Justice (DOJ), requesting that the indictment be dismissed without prejudice.
Case file: nysd.uscourts.gov/sites/defaul…
Federal court permanently dismisses corruption charges against NYC mayor
The US District Court for the Southern District of New York dismissed a corruption indictment against New York City Mayor Eric Adams on Wednesday. This ruling comes in response to a motion filed in Fe...Ben Golin | U. Nevada School of Law, US (- JURIST - News)
France’s Macron Urges EU Companies to Pause US Investments
French President Emmanuel Macron urged companies to pause investments in the US after President Donald Trump announced tariffs on the European Union and other regions.
Archived version: archive.is/20250403145024/bloo…
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
‘I heard them take their last breath’: survivor recounts Gaza paramedic killings
Munther Abed, 27, was in the first ambulance on the scene of an airstrike near Rafah when Israeli soldiers opened fire
Archived version: archive.is/newest/theguardian.…
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
Car explodes at Dam Square in Amsterdam just days after mass stabbing
Police suspect driver intended to take his own life as car burst into flames following explosion in central Amsterdam square
Archived version: archive.is/newest/independent.…
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
Doge gained access to sensitive data of migrant children, including reports of abuse
Former officials question the reason for a Doge engineer’s access to the Unaccompanied Alien Children portal
Bill Gates releases the source code for Microsoft's first product, Altair BASIC
A blast from the past
Bill Gates releases the source code for Microsoft's first product, Altair BASIC
Reminiscing about Microsoft's early days, Gates said Altair BASIC was the company's original source code, predating iconic products like Windows and Office. While he went on to...Kishalaya Kundu (TechSpot)
Spotify debuts Gen AI ads, programmatic ad buying
Spotify debuts Gen AI ads, programmatic ad buying | TechCrunch
Spotify has debuted new ad tools and capabilities, including 'Gen AI' ads and programmatic ad buying via partnerships.Sarah Perez (TechCrunch)
EPP urges the EU to rethink long-standing international asylum law
The Geneva Convention sets out the key concept of non-refoulement, a cornerstone of international refugee protection.
Archived version: archive.is/newest/euractiv.com…
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
Wisconsin loss a warning sign for GOP about Musk’s campaign role
Summary
Elon Musk’s $20M push for conservative Brad Schimel in Wisconsin’s Supreme Court race failed, with liberal Susan Crawford winning by 10 points.
Democrats centered their campaign on opposing Musk, whose government role and DOGE cuts have become a potent rallying point.
Tuesday’s results in Wisconsin and Florida, where Republicans won two House races but underperformed Trump’s 2024 numbers by double digits, have intensified GOP fears about Musk’s effect on the party heading into the New Jersey and Virginia governor races and the 2026 midterms.
Trump, while not distancing himself, acknowledged Musk’s government stint may end after 130 days. Republicans now face a dilemma: Musk brings cash but may damage their brand.
https://www.cnn.com/2025/04/02/politics/wisconsin-supreme-court-musk/index.html
The Economist Trashes Trump’s ‘Flat-Out Nonsense’ Tariffs in Scathing Editorial: Most ‘Unnecessary Economic Error in the Modern Era’
The Economist Trashes Trump’s ‘Flat-Out Nonsense’ Tariffs in Scathing Editorial: Most &# ...
The Economist on Thursday published a scathing editorial criticizing Donald Trump's sweeping tariffs on virtually all of the United States' trade partners.Ahmad Austin Jr. (Mediaite)
It’s all money money money, not people.
Palestinians endure another festive season under genocide - Electronic Intifada
cross-posted from: hexbear.net/post/4507353
During the Eid el-Fitr, the holiday at the end of Ramadan, Muin Abu Al-Mehza, 58, would usually celebrate together with his family and go visit relatives, as per tradition.Muin has two sons and two daughters. One daughter moved to Kuwait with her husband. But his other children live close by, and his oldest son, Sami, 31, built an apartment for his family above Muin’s home.
The holidays were always a time for celebration for the family, as it generally is for everyone in Gaza.
But the past two festive seasons have been anything but joyous in the besieged and devastated coastal territory, home to 2.3 million people now facing starvation and Israel’s genocidal military violence again.
Last Ramadan, Muin’s family was struggling with an acute shortage of food. They had been displaced from their home and were struggling for shelter, warmth and water.
Palestinians endure another festive season under genocide
The ceasefire brought brief respite, but famine and despair loom again for Palestinians in Gaza.The Electronic Intifada
Dagens ETC:s Joakim Medin sitter inspärrad i Turkiet.
Han greps den 27 mars på Istanbuls flygplats.
Han har förts till ett högsäkerhetsfängelse.
Han ställs inför falska anklagelser.
blog.zaramis.se/2025/04/03/sla…
Netanyahu Arrives in Hungary, Finding a Rare Welcome in Europe
cross-posted from: lemm.ee/post/60254654
archive.is/WwwWF
Mr. Orban invited Mr. Netanyahu to visit shortly after the court issued its arrest warrant, assuring him that “the judgment of the I.C.C. will have no effect in Hungary and that we will not follow its terms.”
Netanyahu Arrives in Hungary, Finding a Rare Welcome in Europe
The visit comes as the Israeli prime minister faces an arrest warrant against him by the International Criminal Court.Andrew Higgins (The New York Times)
Duolingo 03/04/2025
Oggi o Duolingo sta inviando importanti segnali, o non so cosa stia succedendo… perché qui sul fronte #allergia sono inevitabilmente costretta ancora a combattere. Il dolore è reale, mitigato solo dalla incomprensibile potenza dell’antistaminico… che, però, a tratti pur’esso come il gambling sembra non fare l’effetto di una volta, e la scimmia causata dalla sua […]
octospacc.altervista.org/2025/…
Duolingo 03/04/2025
Oggi o Duolingo sta inviando importanti segnali, o non so cosa stia succedendo… perché qui sul fronte #allergia sono inevitabilmente costretta ancora a combattere. Il dolore è reale, mitigato solo dalla incomprensibile potenza dell’antistaminico… che, però, a tratti pur’esso come il gambling sembra non fare l’effetto di una volta, e la scimmia causata dalla sua assunzione in dosi normali anziché agognate-esagerate si manifesta come mini-starnuti e bruciorini occasionalissimi agli occhi…
La domanda ora viene da sé: cosa centra il gufo con le bombette biologiche? Beh, a parte che queste ultime potrebbero segretamente essere predilette dal pennuto omicida, che potrebbe benissimo decidere di usarle come armi contro chi non studia… ora comincia ad uscire questa decisamente non molto rassicurante frase: arerughii gaarimasu! E pensare che l’ha detta l’orso, qui… non so come sia possibile per lui avere un’allergia, ma lo capisco completamente, cazzo quanto si soffre. (…E non penso sia un caso che proprio nel momento in cui ho scattato la schermata sono per qualche motivo spariti nel nulla gli occhi… ma che cazzo, è sempre mezza rotta questa app…)#allergia #allergy #Duolingo #giapponese #japanese
T-Mobile Shows Users the Names, Pictures, and Exact Locations of Random Children
T-Mobile Shows Users the Names, Pictures, and Exact Locations of Random Children
"I would log in and I couldn’t see my children but I could see a kid in California. I refreshed and would see a different child.”Jason Koebler (404 Media)
Layoff announcements surge to the most since the pandemic as Musk's DOGE slices federal labor force
Layoff announcements surge to the most since the pandemic as Musk's DOGE slices federal labor force
The surge in March was exceeded only by when the country shut down in 2020 for the Covid pandemic,Jeff Cox (CNBC)
Network question...Some sort of AP or directional antenna to connect a bit distant shed?
Hi guys!
Soon I'll be going to a bit distant family location where we'd like to connect a separate detached shed to the main connection of the house. Wiring it might be a bit messy, as the cable would be exposed on the ground (not sure how to sort that one out), so I'm also considering perhaps a directional wireless antenna. How would I go about this?
Main house has the wireless router, and the shed has no internet, but at least it has power.
Thanks!
Now Musk is boosting claims Wisconsin Supreme Court election was ‘stolen’
Summary
Elon Musk, after spending $21 million backing conservative Brad Schimel in Wisconsin’s Supreme Court race, amplified election fraud claims following Schimel’s loss to liberal judge Susan Crawford.
Musk boosted a post by Alex Jones featuring Roger Stone, who alleged mail-in vote fraud. Schimel rejected the claims, urging supporters to accept the results.
Musk pivoted to highlighting a voter ID ballot measure, though Wisconsin already requires ID. Critics see his reaction as echoing Trump-era denialism.
Despite GOP pressure, Schimel’s concession stood out for its rare break from MAGA conspiracy rhetoric.
Now Musk Is Boosting Claims Wisconsin Supreme Court Election Was ‘Stolen’
After initially downplaying the vote’s importance, the world’s richest man was quick to promote accusations of electoral fraud.Janna Brancolini (The Daily Beast)
Stellantis idles plants in Mexico and Canada due to tariffs
Stellantis idles plants in Mexico and Canada due to tariffs
Stellantis is pausing production at the automaker's Windsor Assembly Plant in Ontario, Canada, and its Toluca Assembly Plant in Mexico.Michael Wayland (CNBC)
Europe’s GDPR privacy law is headed for red tape bonfire within ‘weeks’
Europe's most famous technology law, the GDPR, is next on the hit list as the European Union pushes ahead with its regulatory killing spree to slash laws it reckons are weighing down its businesses.
The European Commission plans to present a proposal to cut back the General Data Protection Regulation, or GDPR for short, in the next couple of weeks. Slashing regulation is a key focus for Commission President Ursula von der Leyen, as part of an attempt to make businesses in Europe more competitive with rivals in the United States, China and elsewhere.
Europe’s GDPR privacy law is headed for red tape bonfire within ‘weeks’
Long seen as untouchable in Brussels, the GDPR is next on the list of the EU’s crusade against overregulation.Ellen O'Regan (POLITICO)
Scrollone likes this.
Trump imposes tariffs on uninhabited Heard and McDonald Islands near Antarctica
‘Nowhere on earth is safe’: Trump imposes tariffs on uninhabited islands near Antarctica
Australian prime minister surprised after remote external territories – including islands home to penguins – targeted by US presidentKate Lyons (The Guardian)
iltoroargento
in reply to Gates9 • • •Not like there is a plethora of historical evidence surrounding tariffs even in US history...
/s
But really, that's the point. He's here to destroy the nation.
spankinspinach
in reply to iltoroargento • • •Lemmyoutofhere
in reply to spankinspinach • • •iltoroargento
in reply to Lemmyoutofhere • • •Num10ck
in reply to iltoroargento • • •GrumpyDuckling
in reply to Num10ck • • •