Market Meltdown Deepens, Tariff Carnage Spreads & Trump Digs In (UPDATE)

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) European stocks plunged, dropping to the lowest since December 2023 on the back of Donald Trump’s tariff announcements, with Germany’s DAX Index falling as much as 10%. (2) President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon. (3) China’s objections to new US tariffs stalled a deal to sell off TikTok and keep it operating in the US, President Donald Trump said Sunday. (4) Bill Ackman and Stanley Druckenmiller slammed President Donald Trump’s decision to launch expansive global tariffs, which have plunged markets into chaos. (5) UK Prime Minister Keir Starmer said he’ll announce measures this week to support Britain’s economy and businesses amid the threat posed by Donald Trump’s tariffs. (6) Finance ministers from Italy and Spain cautioned against too aggressive a response to US President Donald Trump’s tariffs, underscoring the European Union’s divide on the matter. See omnystudio.com/listener for privacy information.