Matt Gagnon discussed the recent stock market volatility triggered by misinformation about a potential 90-day pause on tariffs, which added $2.4 trillion in market value in 10 minutes, only to erase it within 23 minutes after the White House denied the report. The S&P 500 index saw its widest intraday range since March 2020, ending the day down 2.2%. Gagnon emphasized the psychological impact of market reactions, suggesting that fear and irrational decisions are driving market volatility. He argued that while tariffs may affect future profitability, the U.S. economy remains strong, and the market will eventually stabilize, though a recession remains a possibility.
A federal judge temporarily blocked President Donald Trump's ban of three news outlets from the White House, ordering early Thursday that CNN, MS NOW and Politico must have their access restored. Reporters from all three outlets, however, said they remained blocked a few hours after the ruling.
It's harvest time in California wine country, but many growers are struggling to sell their grapes as changing drinking habits have caused demand to plunge. The decline is forcing some growers to tear out vineyards that their families have grown for generations.
In-person voting for this year's midterm elections began Friday, ushering in the final six weeks for Americans to decide which party they trust to lead Congress through a cost-of-living crisis, a prolonged war in Iran and other pressing issues.
Americans are commemorating the 25th anniversary of 9/11, remembering the shock, the dead and the sweeping consequences of the al-Qaida attacks on symbols of U.S. might and prosperity.
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