The layoffs have begun as President Trump's budget chief makes it official. Stocks have sharply dropped following a social media post from President Trump threatening massive tariffs on China.
Joe Matthew
Brad Sherman
There's no reason to do layoffs now, this act is vandalism against the federal government and is linked to the political standoff. The divisions in Congress and Trump's approach are escalating tensions.
Brad Sherman
Regarding China, the President's emotional tweets are unorthodox and damage diplomacy. China controls rare earth elements but the US should have alternative supplies and strategic reserves. This is a missed focus for Congress.
Many tech stocks are down, the market is reacting negatively to tariff threats and uncertainty. Some sectors related to safe havens are up.
Joe Matthew
Eric Weiner
The market is selling off broadly, especially in tech and small caps. Oil is falling, gold is rising, and there's a flight to safety. Uncertainty over the tariff specifics prompts caution.