Morning Wire Wall Street Turmoil & Ukraine’s Ceasefire Agreement | 3.12.25
22 snips
Mar 12, 2025 Wall Street faces turbulence as major stock indexes plummet amid tariff uncertainties. A ceasefire in Ukraine offers a glimmer of hope amidst ongoing conflict, while New York Governor Kathy Hochul declares the prison strike over after drastic measures. The discussion highlights the fragile economic landscape, with an emphasis on the need for stability in the face of federal spending cuts. The episode also explores the implications of safety concerns in state prisons and the broader impact of geopolitical events on the U.S. market.
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Market Turmoil
- Wall Street experienced market turmoil due to uncertainty surrounding tariffs and government spending cuts.
- Economists like E.J. Antony suggest this is a market correction fueled by excessive government spending and inflationary policies.
Ukraine Ceasefire
- Ukraine agreed to a 30-day ceasefire with Russia after drone attacks and peace talks with the U.S.
- Russia's acceptance is pending, and the details of concessions remain to be seen, but it signals a step toward peace.
Ukrainian Drone Strike
- Ukraine launched a drone strike on Russian oil facilities, causing casualties.
- The attack, the largest since September, targeted Moscow and aimed to show Ukrainian strength amid peace talks.