Live Trump tariffs updates: POTUS digs in as markets sink ASX - Delayed Quote • AUD Argo Global Listed Infrastructure Limited (ALI.AX) Follow Compare 2.2500 0.0000 (0.00%) At close: 3:58:23 PM GMT+10 Related News Stock market today: Dow tanks over 1,000 points, S&P 500 eyes bear market as Trump tariff rout continues Wall Street is coming off its worst week since the advent of the pandemic, shedding over $5 trillion in value amid Trump's tariff plans. Trump allies brush off recession fears, play up tax cut hopes as tariff sell-off rattles markets Trump's closest allies are brushing off recession fears as the administration's global tariff escalation threatens to send stocks into a bear market. Stocks plunge at the open, Trump's tariffs wreak havoc on markets All three of the major averages (^DJI, ^GSPC, ^IXIC) continue to plummet as US President Donald Trump's tariffs weigh on the markets. The S&P 500 is approaching bear market territory while the CBOE Volatility Index (^VIX), also known as Wall Street's fear gauge, is climbing. Morning Brief Anchor Brad Smith and Yahoo Finance Markets and Data Editor Jared Blikre break down the action at the open. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Lawmakers may test Trump on tariffs this week as fears of a GOP election 'decimation' grow Donald Trump's tariff opponents on Capitol Hill are set to push back on multiple fronts this week as fears grow that a political landslide could be in the offing for the GOP if no change is made. Trump tariff selloff: 3 things you must know about stocks right now Heavy selling continued in markets around the world on Monday amid the record fallout from President Trump's tariff plan. U.S. futures are deep in the red after having shed an astounding $5.4 trillion in value in the two days since the president revealed big-time tariffs on major companies. The S&P 500 is now at its lowest level in 11 months. Tokyo's Nikkei 225 index tanked 7.8%. Hong Kong's stock market nosedived about 12%, the worst day in more than 16 years. China's Shanghai Composite Index lost 8.4 percent. Yahoo Finance Executive Editor and host of Opening Bid Brian Sozzi breaks down the three things you need to know today to navigate this uncertainty. Why the US may already be in a recession With Trump tariff headlines ripping through markets and economic data, recession calls or predictions for a sharp economic slowdown are coming into the light. The most direct one comes out of BCA Research’s veteran strategist Peter Berezin. Berezin said he sees a 75% chance of a recession within the next three months. In his second quarter outlook for clients, Berezin warned about a “buckling” US consumer and weakening labor market. Berezin has gained attention of late for being the lone bear on Wall Street coming into 2025. He has a year-end target on the S&P 500 of 4,450. The S&P 500 (^GSPC) opened the year at 5,903. Berezin has been an economist for more than 30 years, with stints at the International Monetary Fund (IMF), Goldman Sachs, and now BCA Research. Yahoo Finance Executive Editor Brian Sozzi sits down on the Opening Bid podcast with Berezin about his big calls and why investors need to listen up. For full episodes of Opening Bid, listen on your favorite podcast platform or watch on our website. Yahoo Finance's Opening Bid is produced by Langston Sessoms Wall Street experts warn stocks have 'ample space' to continue cratering as Trump team digs in on tariffs After the worst week for the S&P 500 since March 2020, equity strategists don't seen any end in sight as investor scramble to price in the worst case scenario from President Trump's latest tariff announcements. Bitcoin price falls amid tariff market rout Bitcoin, the world's largest cryptocurrency by market value, fell as global markets plunged amid tariff tensions. Stocks could do something today that hasn't happened since the Great Depression The S&P 500 fell 4% shortly after trading started Monday, officially putting the benchmark index into bear market territory. It later reversed some of those losses. But if the market closes the way it opened, Monday could be a truly historic day in the stock market — and not in a good way. BofA, Oppenheimer latest on Wall St to slash S&P 500's annual target Oppenheimer reduced its target for the benchmark index to 5,950 from 7,100 target, while BofA reduced to 5,600 from 6,666, making it one of the lowest on Wall Street. The S&P 500 index slumped further on Monday and was down more than 20% from its all-time high, putting the benchmark index on track to confirm a bear market. Wedbush Cuts Tesla Outlook by 43%, Citing Brand Crisis and Tariff Risks Daniel Ives warns Tesla faces macro pressure and brand fallout as stock extends sharp year-to-date losses The S&P 500 Tumbles Toward Bear Market The benchmark S&P 500 is flirting with a bear market on Monday, a 20% drop from its recent high. It would need to close 3.1% lower to formally enter the history books. Another data point: If the S&P 500 drops more than 3. Tariffs: Howmet Declares Force Majeure; Nintendo, Jaguar Impact Howmet, Jaguar, Nintendo halt orders, shipping in response to President Donald Trump's tariff rollout. Jamie Dimon has a warning about tariffs JPMorgan Chase CEO Jamie Dimon sounded the alarm on President Donald Trump’s tariffs in his annual letter to shareholders, warning the trade policy will likely spike inflation and is sure to slow down growth. How'd They Get $20 Million On A $200K Salary?' Asks Musk As He Reveals Congress's 'Strangely Wealthy' Members Are Next In DOGE's Crosshairs Elon Musk is taking aim at Capitol Hill. The billionaire CEO of Tesla (NASDAQ:TSLA) and SpaceX says the Department of Government Efficiency he leads is now turning its focus to members of Congress who have built massive fortunes while drawing relatively modest public salaries. “How’d they get $20 million if they’re earning $200,000 a year? Nobody can explain that,” Musk said during a recent town hall in Wisconsin. “We’re going to try to figure it out, and certainly stop it from happening.” Don't Wall Street's Fear Gauge Surges Past 50 as Tariff Shockwaves Hit Markets Investors brace for more turbulence as the VIX climbs and markets reel from broad-based tariff measures TSX futures point down amidst tariff chaos Investing.com -- Canada’s main stock index futured pointed downward ahead of trading on Monday after suffering its worst day in trading since March 2020 on Friday. Investors have sold off since U.S. President Donald Trump’s announcement of a raft of new tariffs last Wednesday, with many seeing an all-out trade war and global recession on the horizon. S&P/TSX 60 Futures indicated a 2.3% decline as of 8:45 ET Monday, following Friday's fall of 65 points, or 4.4%. On Friday, the Toronto Stock Excha Well-Known Analyst Slashes His Price Target on Tesla (TSLA) Stock Dan Ives, a renowned analyst at investment bank Wedbush Securities, cut his price target on Tesla (TSLA) today to $315 from $550, Schwab Network reported. However, Ives did keep an Outperform rating on the name. Why Ives Sharply Lowered His Price Target President Donald Trump’s tariffs, which Ives called “economic…Armageddon,” will create “a double whammy” […] Gold Rises as Market Turmoil Sends Investors to the Precious Metal's Safe Haven Gold traded higher early on Monday on heightened safe-haven buying as global stock markets continue Tesla stock tanks. A big Wall Street bull says Elon Musk faces 'a pivotal moment of truth' Tesla (TSLA) stock was falling yet again Monday, down 6% in premarket trading as markets headed for another brutal day in the wake of President Donald Trump’s sweeping tariffs. Performance Overview Trailing total returns as of 4/7/2025, which may include dividends or other distributions. Benchmark is S&P/ASX 200 [XJO] (^AXJO) Return ALI.AX S&P/ASX 200 [XJO] (^AXJO) YTD +0.42% -10.00% 1-Year +14.79% -5.53% 3-Year +0.87% -1.34%