Tariffs spark a historically bad day on Wall Street

Thursday, April 3, 2025

Good evening and welcome to your daily news briefing from The Independent.

Sweeping tariffs sparked a historically bad day on Wall Street, Donald Trump fired national security officials after meeting with a far-right activist, and a federal judge could hold government officials in contempt for defying court orders over deportation flights to El Salvador.

Top stories

1.| Dow and NASDAQ see historically bad day with plunges among worst ever as Trump tariffs spark sell-off

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2 | Trump fires National Security Council staff after Laura Loomer urged him to cut people she saw as disloyal: report

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3 |Judge considers holding Trump officials in contempt for defying court orders blocking El Salvador flights

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4 | Val Kilmer's family say star was bedbound for years before his death

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5 | Asteroid that caused panic about deadly collision with Earth is huge, NASA finds

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The Big Question 

Global markets are in disarray since Trump's inauguration, with stocks tumbling, then rising, then tumbling again after the latest tariffs news. Is it time to start panicking about the impending financial apocalypse?

In short, no. But it may just be time to start building a plan so that you are ready, should a recession happen.

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Editors' picks

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WATCH 

Commerce secretary slams EU beef ban: 'their beef is weak, ours is beautiful'

STAT OF THE DAY

$15,000

Toyota Tacomas are mainly assembled at a plant east of Tijuana in Mexico, which is subject to a 25 percent duty on auto imports. The price of America's favorite truck is expected to skyrocket.

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QUOTE OF THE DAY

"Do not retaliate."

Treasury Secretary Scott Bessent implored America's foreign trading partners not to "panic" or "retaliate" against Trump's tariff policy.

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