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Fear of US recession drives global market turmoil

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“This is a preview of the world markets without Donald J. Trump in the White House. None of this happens if Trump is in. Kamala and the markets don’t go together,” Trump said

The U.S. stock market took a major dive Monday as Japan saw its worst stock market day since 1987, raising recessing fears and drawing fresh criticism for President Joe Biden and Vice President Kamala Harris.

As of Monday morning, the Dow had dropped 900 points and the Nasdaq a whopping 4%, which experts say is fueled by a fear of a coming recession.

Federal jobs data released on Friday showed far fewer jobs were created than expected.

Overseas conflicts between Russia and Ukraine, possibly imminent all-out war between Iran and Israel and the ongoing threat of a Chinese invasion of Taiwan are also constant stability concerns for global markets.

Former President Donald Trump released a flurry of posts blaming Harris, the presumptive Democratic nominee, for the market downturn, labeling it the “Kamala crash.”

“This is a preview of the world markets without Donald J. Trump in the White House. None of this happens if Trump is in. Kamala and the markets don’t go together,” Trump said in a post online Monday morning. “She’ll destroy the markets. She’s in power now and look at what is happening. One week of the fake media saying better polls and you get a market crash.”

In 2020, Trump predicted that if Biden were to win reelection, the stock market would “crash.”

“Of course there is a massive market downturn,” Trump said. “Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole. Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”

U.S. Sen. J.D. Vance, R-Ohio, Trump’s pick for Vice President, warned that the economic situation could get much worse if it is not handled well.

“This moment could set off a real economic calamity around the globe,” Vance wrote no X, formerly known as Twitter. “It requires steady leadership–the kind President Trump delivered for four years. Kamala Harris is too afraid to answer media questions and cannot lead us in these troubled times.”

Renowned investor Warren Buffett of Berkshire Hathaway said over the weekend that he had sold over half his stock in Apple, which subsequently saw a 5% decrease in its stock price.

“He is clearly expecting a correction of some kind or otherwise simply cannot see better investments than Treasury bills,” Billionaire Elon Musk wrote on X Sunday in response to the news. “The Fed needs to drop rates. They have been foolish not to have done so already.”

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USAID reportedly burning, shredding classified documents

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The U.S. Agency for International Development is facing criticism after news broke that federal employees were reportedly told to burn or shred classified documents.

USAID has been the center of controversy since President Donald Trump took office, and billionaire Elon Musk directed the Department of Government Efficiency to expose a slew of spending items widely mocked and criticized, from transgender operas to propaganda overseas and more.

A senior USAID official reportedly sent a memo to employees directing them to destroy the documents, raising questions about legality and transparency at the embattled agency.

“Shred as many documents first, and reserve the burn bags for when the shredder becomes unavailable or needs a break,” reads the email obtained by Politico.

Hans von Spakovsky, a legal expert at the conservative Heritage Foundation, wrote on X that “these employees are committing felonies under 18 USC 1519 in destroying Gov documents,” arguing that they “should all be criminally prosecuted especially acting director of USAID.”

Secretary of State Marco Rubio announced last week that 83% of of USAID contracts were terminated, though a federal judge has limited the federal government’s ability to stop paying out at least some contracts. Where this lands legally remains unclear as it works its way through the courts.

“In consultation with Congress, we intend for the remaining 18% of programs we are keeping (approximately 1000) to now be administered more effectively under the State Department,” Rubio said.

D.C. Bureau Reporter

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Ontario Premier Doug Ford Apologizes To Americans After Threatening Energy Price Hike For Millions

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From the Daily Caller News Foundation

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Ontario Premier Doug Ford apologized to Americans Tuesday after he suspended a 25% electricity surcharge that he initially said he would be “relentless” in pursuing.

Ford implemented a 25% surcharge on electricity to New York, Michigan and Minnesota on Monday, but quickly rescinded the policy and apologized to Americans on WABC’s “Cats & Cosby” radio show the following day. The tariffs were initially a retaliatory measure against President Donald Trump’s flurry of tariffs against Canada since he assumed office.

Canada is highly dependent on U.S. exports, economists told CNN, and the planned electricity surcharge would likely hurt Canada’s energy industry much more than it would the U.S., although an estimated 1.5 million homes and businesses would have been affected.

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“I want to apologize to the American people. I spent 20 years of my life in the US, in New Jersey, in Chicago. I love the American people,” Ford said. “I absolutely love them … Secretary Lutnick and President Trump are brilliant businesspeople. They are hard negotiators. We need to put this behind us and move forward and build the two strongest countries in the world.”

Initially, Ford had a much more aggressive tone when he instituted the tariffs.

“We will not back down. We will be relentless. I apologize to the American people that President Trump decided to have an unprovoked attack on our country, on families, on jobs, and it’s unacceptable,” Ford said on MSNBC in response to Trump’s hiking of steel and aluminum tariffs.

Trump, in turn, threatened to increase the steel and aluminum tariffs on Canada to 50%, with the increase going into effect the next day.

Ford then talked with Secretary of Commerce Howard Lutnick, with the premier describing the call as “productive.” Once Ford backed down on his plan to implement the export fees, Trump reversed his planned hike to 50% on steel and aluminum tariffs. Ford is expected to meet with Lutnick Thursday in Washington, D.C.

If a deal is not reached by the April 2 deadline, the tariffs will resume.

Ontario sold around 12 terawatt hours of electricity to America in 2023, with the U.S. being Ontario’s largest energy customer outside Canada. The tariff would have likely added “100$ a month” to the bill of Americans in the affected states, Ford claimed according to CNN.

The U.S. and Canada have entered into a contested debate over trade policies, with Canada announcing an additional $20 billion in retaliatory tariffs on American goods in response to Trump’s initial 25% steel and aluminum tariffs.

Trump initially gained concessions from Canada in February, forcing them to aid in curtailing the illegal fentanyl trade in exchange for a pause on a 25% general goods tariff enacted Feb. 1. However, Trump eventually let the pause expire, with the tariff resuming in March.

“Canada is a tariff abuser, and always has been, but the United States is not going to be subsidizing Canada any longer,” Trump said on Truth Social Mar. 10.

The Ontario Premier’s office did not immediately respond to the Daily Caller News Foundation’s request for comment.

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