4.8 • 1.3K Ratings
🗓️ 7 April 2025
⏱️ 7 minutes
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Major indexes on Wall Street are highly volatile this morning after conflicting messages from the Trump administration over global tariffs. At first, there appeared to be word of a potential tariff pause under consideration at the White House; that sent stocks briefly skyrocketing. Then, another report came that contradicted the first, and stocks plunged again. Plus, with stocks tumbling, money has been pouring into safer alternatives like money market funds and CDs.
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0:00.0 | A wildly swinging stock market in the last hour amid confusion about pausing tariffs or not. |
0:07.9 | I'm David Bruncatchew in Los Angeles. Stock market indicators started way down today, but then shot into positive territory for a brief moment. |
0:16.7 | And as we speak, are back deeply into negative story, at least for the Dow and the S&P. |
0:21.0 | Hard to believe that about a half hour ago, the Dow had been up three and a half percent for a |
0:25.9 | brief second. Marketplace is Nova Safo. Is here with more. Yeah, we're getting a lot of confusing |
0:30.3 | messages from the White House. White House National Economic Council Director, Kevin Hassett, |
0:34.3 | told CNBC this morning that a 90-day tariff pause for all countries |
0:38.0 | except China was under consideration. But then CNBC reported that other White House |
0:43.3 | advisors were unaware of any such pause. The back and forth highlighted the confusing |
0:48.4 | set of messages coming from the White House and the uncertainty that's created. Over the weekend, |
0:52.9 | Treasury Secretary Scott Besson said some 50 countries have reached |
0:56.7 | out to negotiate raising the possibility that deals could be cut soon to lower the tariffs announced |
1:01.4 | last week. |
1:02.4 | But the president speaking to reporters on Air Force One, David, on Sunday, appeared in no hurry |
1:06.9 | to strike deals, saying he's aiming for zero deficits with other nations. The president also |
1:12.5 | seemed unfazed by the global market reaction so far. And David, this morning, he said he called |
1:17.8 | on the Federal Reserve to lower interest rates. All right, Nova, thank you. Okay, so here are the |
1:21.7 | indicators at the moment. The Dow is now down 428 points, 1.1%. The SMP is down not so much, 4 tenths percent, |
1:30.7 | but the NASDAQ index just turned ever so slightly positive up eight points. |
1:35.7 | Overnight, the Hangsang Index in Hong Kong fell 13 percent, the biggest drop since the 1997 Asian financial crisis. |
1:42.7 | But that drop is partly due to the fact that the market |
1:45.8 | was closed Friday for a holiday. Here, the so-called stock market fear gauge. The VIX index |
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