Stocks Crater, Trump Digs In, US Risks Economic 'Nuclear Winter'

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) China pledged to retaliate against Donald Trump’s latest tariff threat and stepped up efforts to support the market, raising the risk of a prolonged trade war between the world’s two largest economies. (2) Japan looks set to get priority in US tariff talks, moving to the front of a long line of countries seeking to roll back President Donald Trump’s so-called reciprocal duties, which are scheduled to kick in on Wednesday. (3) President Donald Trump threatened to slap China with an additional 50% import tax, while Washington and Wall Street remained engulfed in confusion about how to gain exceptions from his sweeping global tariffs.  (4) At just after 10 a.m., shouting erupted on the Siebert trading floor in downtown Manhattan. Mark Malek, the firm’s chief investment officer, rushed out of his office to hear his head trader screaming that President Donald Trump was weighing suspending the across-the-board tariff roll-out that had been sinking stock markets for days. (5) Billionaire Ken Griffin said President Donald Trump’s latest tariffs amount to a hefty tax on families and are a “huge policy mistake” by the administration. (6) European Union trade ministers closed ranks and signaled readiness to deploy a full spectrum of countermeasures including potential taxes on digital companies in response to US President Donald Trump’s sweeping tariffs.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) European stocks plunged, dropping to the lowest since December 2023 on the back of Donald Trump’s tariff announcements, with Germany’s DAX Index falling as much as 10%. (2) President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon. (3) China’s objections to new US tariffs stalled a deal to sell off TikTok and keep it operating in the US, President Donald Trump said Sunday. (4) Bill Ackman and Stanley Druckenmiller slammed President Donald Trump’s decision to launch expansive global tariffs, which have plunged markets into chaos.(5) UK Prime Minister Keir Starmer said he’ll announce measures this week to support Britain’s economy and businesses amid the threat posed by Donald Trump’s tariffs.(6) Finance ministers from Italy and Spain cautioned against too aggressive a response to US President Donald Trump’s tariffs, underscoring the European Union’s divide on the matter.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) A flight from global equities accelerated Monday and investors piled into haven assets as the fallout from US President Donald Trump’s tariffs deepened after China announced retaliatory measures.(2) President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon.(3) China’s objections to new US tariffs stalled a deal to sell off TikTok and keep it operating in the US, President Donald Trump said Sunday.(4) Bill Ackman and Stanley Druckenmiller slammed President Donald Trump’s decision to launch expansive global tariffs, which have plunged markets into chaos.(5) UK Prime Minister Keir Starmer said he’ll announce measures this week to support Britain’s economy and businesses amid the threat posed by Donald Trump’s tariffs.(6) Finance ministers from Italy and Spain cautioned against too aggressive a response to US President Donald Trump’s tariffs, underscoring the European Union’s divide on the matter.See omnystudio.com/listener for privacy information.

As dozens of countries worldwide have held national elections in the past year, a new global agenda has emerged that is focused more on trade and taxes, and less on environmental and cultural issues. That’s the conclusion of the first edition of the CEO Radar—a new tool that explores the leading topics discussed on almost 4,700 earnings calls worldwide in Q4 2024, enabling chief executives to compare their agendas to those of their peers, and to the market’s expectations. On this first episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by Christoph Schweitzer, CEO of BCG, and Judith Wallenstein, head of BCG’s CEO advisory practice, to unpack the stories behind the data, based on their one-on-one conversations with CEOs.This episode is sponsored by BCG.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – an eco look ahead post Trump-tariffs, and also a discussion on how the retail sector may be impacted. In the UK – a look at the BOE’s quarterly report on the stability of the UK's financial system. In Asia – a look at President Trump’s additional 34% tariff on Chinese goods and how that may impact U.S, China relations. Also, a look at how tariffs will impact U.S, Australia relations. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Asian shares fell to the lowest level in two months, extending a global selloff in stocks after President Donald Trump’s latest tariff measures drove investors into haven assets.(2) All across the world, as sell orders lit up screens on trading floors from Tokyo to London and New York, a sobering reality took hold: Donald Trump is serious about upending the global trading system — and it appears, at least for now, that fears of a stock-market crash won’t stop him.(3) President Donald Trump’s big tariff rollout was supposed to reduce uncertainty for businesses. Economists say it did the exact opposite, while also raising recession risk.(4) President Donald Trump said he was open to reducing his tariffs if other nations were able to offer something “phenomenal,” indicating that the White House was open to negotiations despite the insistence of some top officials.(5) French President Emmanuel Macron was quick to respond to US President Donald Trump’s punitive tariffs on the European Union by urging businesses in the world’s largest trading bloc to halt spending on the US.(6) US officials have told their UK counterparts they’ll discuss Britain’s proposal to reduce tariffs below 10%, but warned them President Donald Trump may decide that number is his permanent baseline for all countries, according to British officials familiar with the matter.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Donald Trump imposed the steepest American tariffs in a century, stepping up his campaign to reshape the global economy and unnerving investors who see a trade war as a risk to US growth.(2) An aggressive suite of tariffs announced Wednesday by President Donald Trump will significantly complicate the Federal Reserve’s job as it struggles to quash inflation and avoid an economic downturn, likely keeping officials in wait-and-see mode.(3) China vowed to retaliate after being hit with Donald Trump’s biggest tariffs yet, which threaten to decimate trade between the world’s largest economies.(4) The European Union is preparing a package of potential emergency measures to support parts of its economy that could be hit the hardest by US President Donald Trump’s sweeping tariffs, according to people familiar with the matter.(5) The UK refrained from retaliation and said it would maintain its push for a US trade deal after President Donald Trump slapped tariffs of 10% on all imports from Britain as part of a wider global package which he dubbed “Liberation Day” for his country.(6) Treasury Secretary Scott Bessent urged US trading partners against taking retaliatory steps against President Donald Trump’s new set of retaliatory tariffs.(7) President Donald Trump announced a significant increase in tariffs on imports from the US's trading partners, sparking a rapid and painful market impact.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Donald Trump’s deliberations over his plans to impose reciprocal tariffs are coming down to the wire, with his team said to be still finalizing the size and scope of the new levies he is slated to unveil on Wednesday afternoon.(2) Federal Reserve Bank of Chicago President Austan Goolsbee warned of the negative consequences of any slowdown in consumer spending or business investment due to tariff-related uncertainty.(3) The UK government is bracing for US tariffs set to be outlined this week by President Donald Trump to hit the British economy, even as the two governments continue talks on a potential carve-out.(4) The White House is preparing an estimate of what it would cost the federal government to control Greenland as a territory, the most concrete effort yet to turn President Donald Trump's desire to acquire the Danish island into actionable policy.(5) Elon Musk’s candidate faced a resounding loss in a Wisconsin judicial race despite the world’s richest man pouring millions into the campaign, while Republicans avoided upsets in two critical US House seats in Donald Trump’s home state of Florida.(6) As US President Donald Trump prepares to launch a new wave of levies aimed at reducing America’s trade deficits and bringing manufacturing back to home soil, pharmaceuticals are high on the list of targets. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Donald Trump will announce his reciprocal tariff push on Wednesday during an event in the White House Rose Garden, his top spokeswoman said.(2) US automakers are making a last-ditch effort to sway the Trump administration on tariffs set to take effect this week, contending that levies on the thousands of parts they source abroad could have catastrophic effects on the industry.(3) French far-right leader Marine Le Pen lashed out at the decision to bar her from running for elected office for five years, saying it effectively eliminated her from the 2027 presidential race.(4) The rising price of store cupboard staples and alcoholic drinks has lifted UK food inflation to a nine-month high, as the country’s Labour government faces growing political pressure over living costs.(5) A fight over UK motor finance and whether lenders should be on the hook for billions of pounds in compensation will play out at the Supreme Court in one of the most highly-anticipated hearings in years. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Global equities sold off for a fourth day as concerns about the economic impact of the trade war intensified before Donald Trump unveils more tariffs this week.  (2) Japan’s blue-chip Nikkei 225 Stock Average slumped to enter a technical correction as exporter- and chip-related stocks slid on concerns about the global trade war. (3) President Donald Trump said he plans to start his reciprocal tariff push with “all countries,” tamping down speculation that he could limit the initial scope of tariffs set to be unveiled April 2.  (4) UK Prime Minister Keir Starmer held “productive” discussions about “an economic prosperity deal” on a call with US President Donald Trump Sunday evening ahead of a crunch week in which the government hopes to carve out exemptions from looming US tariffs. (5) Goldman Sachs economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as President Donald Trump’s tariffs weigh on economic growth.See omnystudio.com/listener for privacy information.