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6:05 AM ET, April 7, 2025

memeorandum

 Top Items: 
New York Times:
After a Blowout Week, Wall Street Decision Makers Brace for More Chaos  —  The financial titans who backed Trump are now dealing with the fallout from his tariffs.  They spent the weekend surveying the damage of last week's major sell-off.  —  There was little rest on Wall Street this weekend.
RELATED:
CNBC:
Dow futures fall 1,500 points Sunday as Trump tariff market rout escalates: Live updates  —  U.S. stock futures dropped on Sunday evening as the White House remained defiant even after a two-day historic stock market rout that followed President Donald Trump's rollout of shockingly high tariff rates on most key U.S. trading partners.
Rolling Stone:
Trump to America as Markets Crash: ‘Sometimes You Have to Take Medicine’  —  The president said Sunday he is not deliberately tanking the markets, as U.S. market futures dropped again following his tariff announcement  —  Donald Trump said Sunday he is not deliberately tanking the stock market …
Ian Swanson / The Hill:
Bill Ackman warns Trump to call a timeout on trade war: ‘This is not what we voted for’  —  Billionaire hedge fund investor Bill Ackman, who endorsed President Trump last year, is offering a stark warning about the risks of the White House's tariff plans, arguing they could cause the economy …
Associated Press:
Trump says he's not backing down on tariffs, calls them ‘medicine’ as markets reel  —  President Donald Trump said Sunday that he won't back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the U.S., digging in on his plans to implement …
Wall Street Journal:
U.S. Stock Futures, Nikkei Plunge as Tariff Turmoil Deepens  —  Oil prices and Treasury yields also fell as President Trump stood firm on imposing tariffs that investors fear will clobber the global economy  —  More pain appears to be in store for markets after their worst week to start a quarter since 2008.
New York Times:
Stocks in Asia Fall Sharply, Extending a Rout Caused by Trump's Tariffs  —  Futures on the S&P 500, which allow investors to trade the index before regular trading begins on Monday, added to last week's sell-off.  —  Financial markets were hit hard by another wave of selling at the start …
Discussion: The Hill, CBS News and The Guardian
Wall Street Journal:
Trump, Unbowed, Is Enacting Change on Scale Rarely Seen Before  —  Financial markets, universities, law firms and world leaders are reeling from the president's agenda, but White House officials say this was always the plan  —  WASHINGTON—And it's only been 77 days.
Elaine Kurtenbach / Associated Press:
World markets plunge, with Japan's Nikkei diving nearly 8%, after the big meltdown on Wall St  —  Shares nosedived around the world Monday as higher U.S. tariffs and a backlash from Beijing triggered massive sell-offs.  European shares followed Asian markets lower, with Germany's DAX falling 6.5% to 19,311.29.
Amala Balakrishner / CNBC:
Hong Kong's Hang Seng plunges nearly 10%, mainland's China CSI 300 slumps about 5% on trade war worries
Discussion: NBC News
Tanaya Macheel / CNBC:
Trump says he doesn't want stocks to go down, ‘but sometimes you have to take medicine’
Discussion: Al Jazeera and Business Insider
Graig Graziosi / The Independent:
Musk again distances himself from Trump tariffs by scoffing at Lutnick's attempt to explain duties on penguin island
Wall Street Journal:
Wall Street Starts to Speak Out Against Trump's Tariffs
Discussion: Wide World of News
CNN:   Dow futures tumble as the massive market sell-off continues
John Helton / Associated Press:
Democrats hammer Trump for his weekend of golf as stocks tumble
Telegraph:
Apple's collapse proves cosying up to Trump is no guarantee of safety
Discussion: Metro.co.uk
Paul Kiernan / Wall Street Journal:
In Matter of Days, Outlook Shifts From Solid Growth to Recession Risk
Discussion: The Guardian
Cecilia Vega / CBS News:
Trump administration deports gay makeup artist to prison in El Salvador  —  Andry Hernandez Romero, a gay makeup artist who came to the United States last year in search of asylum, is one of 238 Venezuelan migrants who were flown from the U.S. to a maximum security prison in El Salvador three weeks ago.
RELATED:
Cecilia Vega / CBS News:
U.S. sent 238 migrants to Salvadoran mega-prison; documents indicate most have no apparent criminal records  —  Three weeks ago, 238 Venezuelan migrants were flown from Texas to a maximum security prison in El Salvador.  —  That country's president offered to take them and the Trump administration used …
Associated Press:
Judge says deportation of Maryland man to an El Salvador prison was ‘wholly lawless’
Carolyn Y. Johnson / Washington Post:
NIH scientists have a cancer breakthrough.  Layoffs are delaying it.  —  A big step forward in cancer therapy has been slowed by layoffs and new restrictions at the National Institutes of Health, where it was developed.
Danny Nguyen / Politico:
Kennedy announces support for measles vaccine amid outbreak  —  The statement is a surprising turn for the health secretary and comes amid reports of a second child's death.  —  Health Secretary Robert F. Kennedy Jr., who spent years promoting debunked theories and sowing doubts about the safety …
RELATED:
Reuters:
Second child dies of measles in Texas, media reports
Molly Young / Oklahoman:
Sen. Mullin suggests ‘fake news’ would decline if violence could ‘still’ settle disputes  —  Journalists would write fewer “fake news” stories if disputes over coverage could be handled through violence, U.S. Sen. Markwayne Mullin suggested on social media.  —  In a video posted over the weekend …
RELATED:
Megan Lebowitz / NBC News:   Republican senator floats using violence against journalists who report ‘fake news’
NBC News:
Treasury Sec. Bessent says 'there doesn't have to be a recession': Full interview  —  Treasury Sec. Scott Bessent exclusively joins Meet the Press days after President Donald Trump unveiled expansive tariffs on the United States' largest trading partners.
RELATED:
Tom Sherwood / Washington City Paper:
Trump Will Get His Showy (And Likely Expensive) Military Parade in D.C.  —  President Donald Trump for years has lusted after a big military parade over which he could preside—just like he sees leaders do in other mostly authoritative countries.  —  During his first term in 2018 …
Discussion: Raw Story
Meredith Lee Hill / Politico:
Johnson and Trump scramble to show agenda progress amid tariff tumult  —  The president helped the speaker solve one snag over the weekend.  Muscling a budget through the House will be a much taller order.  —  Speaker Mike Johnson and President Donald Trump were already facing pressure …
Discussion: The Hill and Townhall
 
 
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 More Items: 
Wall Street Journal:
The First Victim of Trump's Trade War: Michigan's Economy
Meg Tirrell / CNN:
‘A huge impact on worker safety’: Protection for miners, firefighters in jeopardy after CDC cuts
Craig Fox / Syracuse Post-Standard:
More than 1,000 march in Sackets Harbor in support of detained children, mother
Scott Macfarlane / CBS News:
Civil rights-era government agency in Justice Department to be purged
Will Bunch / The Philadelphia Inquirer:
The only national emergency is the law that empowers a mad king
Zack Stanton / Politico:
Playbook: The Resistance arrives
Diana Ramirez-Simon / The Guardian:
Chinese woman detained by US border patrol in Arizona dies by suicide
Discussion: New York Post and UPI
Marisa Kabas / The Handbasket:
Try that in a small town
Discussion: Townhall and NBC News
 Earlier Items: 
Eugene Volokh / Reason:
“The Trump Administration's Unconstitutional Hate Mail to Harvard,” by Prof. Genevieve Lakier (Chicago)
New York Post:
Elon Musk appears to break with Trump admin on tariffs — as he slams Peter Navarro and says he wants ‘zero tariff situation’ with Europe
Nate Cohn / New York Times:
For Republicans, Tariffs Pose a Risk Like No Other
Brendan Bordelon / Politico:
Washington worries Trump could bail out Zuckerberg
The Atlantic:
The Cabinet Secretary Who Wants His Cookies Freshly Baked
Discussion: Raw Story
 

 
From Techmeme:

Samantha Subin / CNBC:
The Nasdaq closes down 4%, with Meta down 7%, Nvidia down 6%, Amazon down 5%, and Apple down 4%, as the White House says Trump's tariffs on China now total 145%

Cristina Criddle / Financial Times:
Sources: OpenAI recently gave staff and third-party groups just days, vs. several months previously, to evaluate risks and performance of its latest models

Maxwell Zeff / TechCrunch:
OpenAI rolls out a ChatGPT memory feature that references past chats for answers, starting with ChatGPT Pro and Plus subscribers, but not in the UK and the EEA

 
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