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The Excerpt

S&P 500, Nasdaq post worst day in years amid recession fears

The Excerpt

USA TODAY

Daily News, News

4.41.2K Ratings

🗓️ 11 March 2025

⏱️ 12 minutes

🧾️ Download transcript

Summary

Monday saw one of the worst days for U.S. markets in years. What's happening?

USA TODAY National Correspondent Terry Collins has the latest on protests from fired federal workers.

Secretary of State Marco Rubio thanked DOGE for pushing cuts to USAID after media reports of quarreling between him and Elon Musk.

Ukraine strikes Moscow in its biggest drone attack on the Russian capital.

USA TODAY National Correspondent Trevor Hughes discusses how the Trump administration is repurposing the CBP One app to allow migrants to self-deport.

The removal of a Black Lives Matter mural begins in Washington, D.C.


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Transcript

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0:00.0

Can we test in a way that if we get rid of BCL2 in an actual leukemia, will the leukemia go away?

0:06.7

Dana Farber's Dr. Anthony Latai, describing work that led to an inhibitor drug against chronic lymphocytic leukemia.

0:13.1

And it started with Dr. Stanley Korsmeyer, who identified BCL2 as the protein cancer cells used to prevent self-destruction.

0:20.6

Momentum. One brilliant discovery building on another. Go to prevent self-destruction. Momentum.

0:21.4

One brilliant discovery building on another.

0:24.0

Go to Danafarber.org slash stories and see how what we do here changes lives everywhere.

0:35.0

Good morning.

0:36.1

I'm Taylor Wilson.

0:37.2

And today is Tuesday, March 11, 2025. This is the excerpt.

0:44.7

Today, what's going on with the stock market? Plus, fired federal workers continue to protest. And the Trump administration repurposes the CBP1 app to encourage migrants to self-deport.

0:58.6

U.S. stocks plunged yesterday, the tech-heavy NASDAQ and broad S&P 500 posted their biggest one-day drop

1:05.5

since September of 2022 amid height and risk of recession this year.

1:10.2

Mike Musio, president of FBB Capital Partners, said right now it's about uncertainty.

1:15.6

I think the speed with which the market is reassessing

1:19.6

probabilities around recession is directly linked with the two things.

1:26.6

One, uncertainty around tariffs and what the impact may

1:31.4

have on inflation and just the general economic outlook. And then two, there's a bit of a

1:37.9

growth scare that's going on at the same time. In a Fox News interview on Sunday, President Donald

1:42.5

Trump declined to predict whether the U.S. could face a recession.

1:46.5

Trump's comments echoed remarks from Treasury Secretary Scott Besson on Friday, who told CNBC that there could be a detox period for the economy as the new administration cuts government spending.

1:56.9

The hits of the markets comes at a time when investors are concerned that Trump's fluctuating trade policies on Mexico, Canada, and China could dampen consumer demand and corporate investment.

2:07.6

China's retaliatory tariffs on some U.S. imports took effect yesterday.

...

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