The Pour Over Today
Stock Market Falls, “Hands Off” Rallies, Final Four, & More | 04.07.25
Apr 7, 2025
Wall Street reacts sharply to Trump's latest tariffs, causing market turbulence. Protests against Trump and Elon Musk stir public sentiment. In sports, remarkable achievements shine with thrilling Final Four results. Significant political developments unfold as a Senate budget vote impacts domestic policies. The tech world buzzes with updates, including news about the Nintendo Switch 2 amidst ongoing TikTok ownership talks. Meanwhile, severe flooding poses challenges to communities across the U.S.
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Quick takeaways
- The recent tariffs implemented by President Trump have triggered significant declines in the stock market, impacting the Nasdaq and S&P 500 substantially.
- Mass protests against Trump and Elon Musk highlight a growing public discontent with governmental policies and corporate actions affecting various societal issues.
Deep dives
Impact of Tariffs on Wall Street
Recent tariffs imposed by President Trump and China's retaliatory response have significantly affected the stock market, with major indices suffering substantial losses. The Nasdaq entered bear territory, falling over 20% from its peak, while the S&P 500 experienced its worst week since 2020, leading to a loss of over $6 trillion in market value. Federal Reserve Chairman Powell indicated that the economic repercussions of these tariffs could be more severe than anticipated, potentially leading to a temporary increase in inflation. Despite the turmoil, the U.S. managed to add 228,000 jobs in March, though unemployment rose slightly to 4.2%.
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