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U.S. stocks are tumbling as worries about President Donald Trump’s trade war and his criticism of the Federal Reserve cause investors to pull further from the United States.The S&P 500 fell 2.6% Monday and was 16% below its record set two months ago.
The Dow Jones Industrial Average dropped 1,000 points, and the Nasdaq composite sank 2.9%. Big Tech stocks led the way lower ahead of earnings reports coming this week from Tesla and others. Perhaps more worryingly, the value of the U.S. dollar also sank as a retreat continues from U.S. markets. The yield on the 10-year Treasury briefly topped 4.40% before regressing.
Other news we’re following:
- Hegseth shared details of Yemen strike in another Signal chat: Defense Secretary Pete Hegseth created another Signal messaging chat that included his wife and brother where he shared similar details of a March military airstrike against Yemen’s Houthi militants that were sent in another chain with top Trump administration leaders. Hegseth did not deny the reports when speaking to reporters on Monday.
- Trump attends White House Easter Egg Roll: Trump and first lady Melania Trump are expected to welcome 40,000 people to the first White House Easter Egg Roll of his second term, though the annual event could turn soggy with scattered showers in Monday’s forecast.
- Trump orders US flags to half mast in honor of Pope Francis: Trump says he signed an executive order putting U.S. flags at half mast in recognition of the passing of Pope Francis. Trump made the announcement in brief remarks at the White House Easter Egg Roll.
- Ask us a question: Have a question about Trump or his administration? Ask us. We’ll answer your questions during our live coverage.
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