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CNN 5 Things

Stocks tumble, Social Security downsize, Russell Brand charges and more

CNN 5 Things

CNN

Daily News, News

4.31.2K Ratings

🗓️ 4 April 2025

⏱️ 6 minutes

🧾️ Download transcript

Summary

We begin with the latest market reactions to President Donald Trump’s tariff policies. The Social Security Administration is making big cuts to its technology team. We tell you how the job market has fared in March. Trump targets more Ivy League schools for federal funding cuts. Plus, the charges against British comedian Russell Brand. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

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0:31.3

Hi there. From CNN, I'm Erin Matheson, with the five things you need to know for Friday, April 4th.

0:38.8

U.S. stocks have taken a hit this morning as markets continue to be rattled by President

0:43.2

Donald Trump's trade war. Adding fuel to the fire, China said today it will slap reciprocal

0:48.9

tariffs of 34 percent on all imports from the U.S. starting April 10th.

0:54.1

And last night, aboard Air Force One, Trump suggested he's open to negotiating with other countries

0:59.0

on the duties he laid out on Wednesday.

1:02.0

But it would depend on what they offer in return.

1:05.0

That's the beauty of what we do.

1:07.0

We put ourselves in the driver's seat.

1:10.0

Meanwhile, oil prices have plummeted to a four-year low.

1:13.6

That's because traders fear economic growth will slow to the point that it curbs demand for energy.

1:19.6

More federal government cuts are on the horizon.

1:22.6

Today, the Social Security Administration announced plans to slash its technology team by nearly a third.

1:29.3

This is part of a large-scale downsizing operation across the federal government,

1:33.3

according to two former employees with direct knowledge of the plan.

1:36.3

The Social Security Administration is responsible for monthly benefit payments to around 73 million Americans,

1:43.3

and it already has challenges with its very

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