US stocks plummeted on Monday, with the Dow Jones down 2%, the S&P 500 down 2.7%, and the NASDAQ down 4%, resulting in over $1 trillion in losses. Retaliatory tariffs from China on US imports exacerbated the decline. President Trump’s reluctance to rule out a recession was highlighted, with the Dow down 2.5% since his inauguration, the S&P down 5%, and the NASDAQ down 10%. A disappointing jobs report showed only 151,000 jobs added, below the expected 170,000. Consumer confidence dropped significantly, and mortgage rates fell to 6.63%. The conversation also touched on the Federal Reserve’s role in economic manipulation and the potential for a recession.
The American job market continues to show surprising strength, shrugging off the high costs of the Iran war. Employers added 172,000 jobs in May – roughly double what forecasters had expected – and the unemployment rate remained at a low 4.3%.
A Colorado court reversed homicide convictions against two paramedics on Thursday in the death of Elijah McClain, a Black man who was pinned down by police and injected with a fatal dose of ketamine.
The state of Florida filed a lawsuit against OpenAI and CEO Sam Altman on Monday, claiming the company knowingly released and aggressively marketed ChatGPT to the public while concealing serious risks.
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