From Yahoo Finance: 2025-04-06 18:55:00

The S&P 500 just had its worst week since March 2020, with further selling expected. Citigroup’s Stuart Kaiser sees downside risk for stocks due to unpriced tariff outcomes and recession fears. Equity futures pointed to more selling, with Nasdaq in a bear market and S&P 500 down 17% from its peak.

Economists warn Trump’s tariffs could push the US economy into a recession later in 2025. JPMorgan forecasts a downturn, with Citi’s Kaiser noting historical S&P 500 pullbacks during recessions. Market uncertainty grows as policymakers appear reluctant to intervene, leaving investors in a free fall with no clear end in sight. 1. The US economy added 943,000 jobs in July, exceeding expectations and bringing the unemployment rate down to 5.4%. This marks the largest job gain in nearly a year, with notable increases in leisure and hospitality, professional and business services, and transportation sectors.

2. In a groundbreaking move, Pfizer and BioNTech have received full FDA approval for their COVID-19 vaccine, becoming the first in the US to achieve this status. The vaccine, now known as Comirnaty, has been shown to be highly effective in preventing severe illness and death from the virus.

3. California is experiencing its worst drought in over 1,200 years, with reservoirs at dangerously low levels and water restrictions being imposed across the state. The drought is fueling concerns about wildfires, agricultural losses, and water scarcity for millions of residents.

4. The Taliban has made significant territorial gains in Afghanistan, seizing control of key districts and border crossings as US troops complete their withdrawal. The Afghan government is facing increasing pressure, with fears that the Taliban could regain power and destabilize the region.

5. The Tokyo Olympics have come to a close, with the United States finishing at the top of the medal table with 113 total medals. Notable performances include swimmer Caeleb Dressel winning five gold medals and gymnast Simone Biles making a triumphant return to competition.



Read more at Yahoo Finance: Wall Street experts warn stocks have ‘ample space’ to continue cratering as Trump team digs in on tariffs