Global markets declined after China imposed a 34% tariff on American goods in retaliation to tariffs imposed by President Trump, leading to a 5% drop in the S&P 500 and Nasdaq Composite. The move raised concerns of a prolonged trade war that could impact supply chains and push the U.S. economy towards a recession, prompting billionaire investor Bill Ackman to urge world leaders to negotiate with Trump. Trump’s talks with Vietnam about reducing tariffs to zero led to a 4% rally in Nike stock, a major holding in Ackman’s portfolio. Ackman also advised on negotiation strategies in dealing with tariffs.
Full Article
Exodus at DOJ civil rights division as official says ‘over 100’ attorneys departed
The Justice Department's Civil Rights Division has experienced a significant departure of over 100 attorneys following a directive from Assistant Attorney General Harmeet Dhillon, indicating a shift in priorities under President Trump. This change moves focus away from traditional civil rights issues, like voting rights enforcement, towards culture war topics, with Dhillon asserting that the division should not enforce "woke ideology." As resignations continue, Dhillon seeks to recruit more personnel to address new administration initiatives,...
Read more