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WSJ Your Money Briefing

What’s News in Markets: Nike Tariff Turmoil, The Not-So-Magnificent Seven, Newsmax’s Wild Debut

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.81.6K Ratings

🗓️ 5 April 2025

⏱️ 5 minutes

🧾️ Download transcript

Summary

Why did President Trump’s tariff announcements send Nike stock spinning? And what’s weighing on the Magnificent Seven tech stocks? Plus, how did shares of conservative news outlet Newsmax do in their first trading week? Host Krystal Hur discusses the biggest stock moves of the week and the news that drove them. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Americans love using their credit cards, the most secure and hassle-free way to pay.

0:04.0

But DC politicians want to change that with the Durban Marshall Credit Card Bill.

0:08.0

This bill lets corporate megastores pick how your credit card is processed,

0:13.0

allowing them to use untested payment networks that jeopardize your data security and rewards.

0:18.0

Corporate megastores will make more money and you pay the price.

0:22.1

Tell Congress to guard your card because Americans lose when politicians choose. Learn more at

0:28.1

guard your card.com.

0:32.9

Hey listeners, it's Saturday, April 5th. I'm Crystal Hurf with the Wall Street Journal, and this is What's News and Markets,

0:40.6

our look at the biggest stock moves of the week and a news that drove them.

0:44.8

Let's get to it.

0:46.2

Well, it looks like April is already shaping out to be a tough month for Wall Street.

0:50.7

Some of investors' worst fears came true on Wednesday,

0:53.7

and President Trump announced sweeping tariffs.

0:56.4

Stock saw a steep sell-off on Thursday, their worst day since 2020.

1:00.7

And things only got worse on Friday after China said it is matching the new 34% tariff on all goods imported from the U.S.

1:07.9

The Dowell had more than 2,000 points.

1:10.7

Now, investors are worried that Trump's trade policies could break the economy's resilient streak

1:15.5

and send it into a recession. Dan Ives of Wedbush Securities told me that he spent the week

1:21.4

on dozens of calls with clients playing a dual role, part analyst, part therapist.

1:27.1

The week was a market route. The NASDAQ fell into a

1:30.3

bare market with a 20% decline from its peak. The U.S. stock market shed $6.6 trillion in two

1:37.4

sessions, the biggest two-day pullback on record. The three major indexes all notch their worst

...

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