Author: News Room

Financial markets were hit by another wave of selling on Sunday evening, with investors and economists grappling with rising odds of a severe economic downturn caused by President Trump’s significant new tariffs on imports.Futures on the S&P 500, which allow investors to bet on the index before the official start of trading on Monday, dropped roughly 4 percent on Sunday evening. In oil markets, which also open for trading on Sunday evening, prices fell more than 3 percent — adding to steep losses last week. And the price of copper, considered a broad economic indicator, slid more than 5 percent.The…

The article of which he was most proud was “The Woman Who Beat the Klan,” published in The Times Magazine in 1987, about Beulah Mae Donald, who sued the Ku Klux Klan for the 1981 murder of her son — he was hanged from a tree, with his throat slit, and no one was charged with the crime — and won.In 2023, he wrote about how he came to that story. The Southern Poverty Law Center had sent a postcard photo of 19-year-old Michael Donald, hanging from a tree, as a fund-raising request. It was a horrific image, yet for…

There was little rest on Wall Street this weekend. There was plenty of anger, anxiety, frustration, and fear.Anger at President Trump for a brash and chaotic rollout of tariffs that erased trillions of dollars in value from the stock market in two days. Anxiety about the state of the private equity industry and other colossal funds with global investments. Frustration among Wall Street’s elite at their sudden inability to influence the president and his advisers.And fear of what may come next.Hedge funds tallied up their losses, and bragged if they only lost a little. Bankers and lawyers tore up already…

Thousands of pounds of liquid egg substitutes sold under two popular brand names have been recalled because of the potential risk of contamination with a cleaning solution, federal safety regulators said.Cargill Kitchen Solutions in Lake Odessa, Mich., recalled about 212,268 pounds of products under its Egg Beaters and Bob Evans labels because they may contain a cleaning solution with sodium hypochlorite, also known as bleach, the Agriculture Department’s Food Safety and Inspection Service said on March 28.The products were shipped for distribution in Ohio and Texas and for food service use in Arizona, California, Colorado, Florida, Illinois and Iowa.“There is…

Dear readers, I have a confession: I am suffering from an ailment that the younger ones call “brain rot,” the inability to think deeply after too much scrolling on my phone. These days, it’s tough to even finish a book.Plenty of people have this problem. So many, it has birthed a category of minimalist tech products striving to rid us of distractions, from the Ai Pin, the now defunct artificially intelligent lapel pin that took notes, to phones with only basic features.The latest example, the $600 Light Phone III, from a Brooklyn start-up, is a stripped-down phone that does barely…

When Republicans cut taxes in the past, they did so only temporarily, bowing to Washington’s arcane budget rules that limited how much they could add to the federal deficit. They gambled — mostly successfully — that the tax cuts would not actually end because Democrats would eventually vote to continue them.With this year’s tax cut, though, many Republicans no longer want to take that risk.In the Senate, Republicans approved a budget outline on Saturday that opens the door to locking in the Trump tax cuts indefinitely without Democratic support.Actually doing so would require Republicans to upend Senate procedures that have…

For the last several months, Ken Harvey has been cultivating a budding side business for his Honda and Mazda dealerships in Northern California: selling used Teslas.A few times a month, Mr. Harvey picks up a few pre-owned Teslas at a local automobile auction and offers them for sale, often at surprisingly affordable prices, thanks to a $4,000 federal tax credit that customers get for purchasing used electric vehicles priced under $25,000. Some consumers who qualify for state incentives, he said, end up with used Model 3 sedans for well under $20,000 — less than half the cost of a new…

President Trump’s self-proclaimed “liberation day,” in which he announced across-the-board tariffs on the United States’ trading partners, carries an echo of another moment when an advanced Western economy threw up walls around itself.Like Brexit, Britain’s fateful vote nearly nine years ago to leave the European Union, Mr. Trump’s tariffs struck a hammer blow at the established order. He is pulling the United States out of the global economy much as Britain withdrew from a continentwide trading bloc, in what its backers viewed as a comparable act of liberation.The shock of Mr. Trump’s move is reverberating even more widely, given the…

Vietnam’s top leader, To Lam, has asked President Trump to delay the imposition of tariffs for at least 45 days so the two sides can avert a move that would devastate the Vietnamese economy and raise prices for American consumers.The 46 percent tariff rate the United States has said it will impose on Vietnam is among the highest any country faces. The prospect of such a steep tariff has left Vietnam with a sense of whiplash and deep apprehension. It also presents a sharp contrast to Washington’s recent embrace of Hanoi as an important bulwark against China and a manufacturing…

It was a bad week for Ben Coryell, who runs a wilderness guiding company in Golden, Colo.He got several calls from customers who wanted to cancel their climbing courses and mountaineering expeditions over the summer, often citing second thoughts about big purchases as the Trump administration has thrown the economy into turmoil with eye-watering tariffs.At the same time, Mr. Coryell is wondering how long his business, Golden Mountain Guides, can continue to offer those trips, as personnel cuts at the National Park Service have held up the processing of the permits he needs to operate along high-demand routes. And with…