China began imposing tariffs on US agricultural products yesterday. The move to slap an import tax on US farm products, whose largest overseas market is China, comes after President Trump raised tariffs on Chinese imports to the US twice. Meanwhile, Ontario planned a 25% surcharge on US-bound electricity in retaliation for US tariffs on Canada, most of which have been delayed but remain a possibility. The extra fees will hit 1.5 million American homes in New York, Michigan, and Minnesota, according to the BBC.
X suffers outages in possible “massive cyber attack.” The...
X suffers outages in possible “massive cyber attack.” The social media platform formerly known as Twitter went dark for many users several times yesterday, and more than 40,000 people reported problems with the site. Owner Elon Musk posted that X was the victim of a cyberattack and that “either a large, coordinated group and/or a country is involved.” Although an attack had not been confirmed, the hacking group Dark Storm Team reportedly took credit for it. The group, which has pulled off other sophisticated cyber attacks, has threatened cyberwarfare on Israel and its allies, according to Newsweek.
Rocket Companies is buying real estate listing platform Redfin in an all-stock deal valued at $1.75 billion.
A federal judge blocked the Trump administration’s efforts to deport Mahmoud Khalil, the Columbia University graduate student and leader of pro-Palestinian campus protests who was detained by Immigration and Customs Enforcement.
A container ship collided with a U.S.-flagged oil tanker in the North Sea off the coast of England yesterday, starting a fire and sending one person to the hospital.
The Supreme Court agreed to review the constitutionality of a Colorado law banning “conversion therapy” for LGBTQ minors.
Oil futures ended lower Monday, dragged down by fears rising global trade...
Oil futures ended lower Monday, dragged down by fears rising global trade tensions could spark a recession or a slowdown as U.S. equities suffered their worst day of 2025.
West Texas Intermediate crude for April delivery lost $1.01, or 1.5%, to finish at $66.03 a barrel on the New York Mercantile Exchange.
May Brent crude the global benchmark, dropped $1.08, or 1.5%, to settle at $69.28 a barrel on ICE Futures Europe.
Back on Nymex, April gasoline ended 0.8%lowerat $2.093 a gallon, while April heating oil declined by 1.6% to $2.18 a gallon.
Natural gas for April delivery rose 2.1% to close at $4.491 per million British thermal units.
Dow drops nearly 900 points, Nasdaq sheds 4% as stocks slide on recession fears
U.S. stocks ended sharply lower on Monday as investors...
U.S. stocks ended sharply lower on Monday as investors reacted to recession fears and tariff concerns.
President Donald Trump refused to rule out the possibility of a recession in a television interview on Sunday, while Chinese tariffs on U.S. agricultural goods took effect on Monday in response to U.S. tariffs on Chinese imports that were imposed last week.
The Dow Jones Industrial Average lost 890.01 points, or 2.1%, to end at 41,911.71, its lowest closing level since Nov. 4, according to preliminary closing data from FactSet. It logged its largest one-day point and percentage declines since Dec. 18.
The S&P 500 fell 155.64 points, or 2.7%, to close at 5,614.56, its lowest closing value since Sept. 12. It recorded its largest one-day point and percentage declines since Dec. 18.
The Nasdaq Composite declined 727.90 points, or 4%, to close at 17,468.32, its lowest closing level since Sept. 11. The tech-heavy index posted its largest one-day point decline since March 16, 2020, and its largest one-day percentage decline since Sept. 13, 2022.
Losses for U.S. stock futures deepen as investors await opening bell
The gloom was worsening on Wall Street ahead of the opening...
The gloom was worsening on Wall Street ahead of the opening bell, with U.S. stock-index futures slipping to session lows and pointing to a sharply lower open Monday morning.
Remarks by President Donald Trump in a television interview Sunday, in which he refused to rule out the possibility of a recession, were getting the blame for the weakness in equities. They served to amplify fears surrounding the whiplash of Trump's tariff policies, which have seen the U.S. impose heavy tariffs on trading partners and then withdraw or modify a chunk of them while pledging more tariff action in the future.
