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Trump Signals Tariff Talks as Wall Street Suffers Worst Slump Since 2020
Stock markets plunged, with the Dow dropping over 1,600 points, and tech and retail sectors hit hardest; China vowed countermeasures.
Stock markets plunged, with the Dow dropping over 1,600 points, and tech and retail sectors hit hardest; China vowed countermeasures.
Economists warn the aggressive policy could lead to job losses, higher unemployment, and a potential recession if trading partners retaliate.
The "Dirty 15" nations, including China, the EU, and Mexico, are expected to be primary targets, with specifics on tariff rates and enforcement still unclear.
The U.S. Treasury is facing a cash drain, with its General Account balance dropping by 60% since January 2025, sparking fears of a potential default by August or September 2025.
The court ruled the terminations violated federal hiring laws, calling them a "sham" and overreach by OPM.
The Supreme Court upheld the order to release $2 billion in aid, despite dissenting opinions citing sovereign immunity concerns.
Officials attribute current economic adjustments to previous policies, with tariffs and reduced government spending cited as factors.
Tech giants like Tesla, Meta, and Nvidia lead the sell-off, with significant losses.