MARKET BLOODBATH: US financial markets lost an estimated five trillion dollars in value in the two days since President Donald Trump announced new tariffs and opened a trade war with the world. Yesterday alone the Dow Jones dropped more than 2200 points.

  The trigger yesterday was China’s retaliation with a 34 percent tariff on US imports. In two days the Dow lost more than 9 percent, the S&P 500 more than 10, and the Nasdaq more than 11 percent.

  The selloff was on a par with such events as war, depression, the dotcom bubble, and the Covid pandemic. 

  While the bloodbath started yesterday morning, Trump posted on his Truth Social, “TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE. THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!” He did not post sympathies to Americans who will be paying more for everything from groceries to cars as federal reserve chair Jerome Powell warned that the tariffs might spur inflation.

  Trump says his tariffs will have industries running back to the US to build factories and hire American workers. Columnist Thomas Friedman writes in The NY Times; “If Trump turns out to be wrong, he will have sown the wind, and we as a nation will reap the whirlwind. But so, too, will the rest of the world. And I can tell you, the world is worried.

  The stock market news overshadowed an encouraging jobs report of 228,000 new hires last month. Trump used that to claim on Truth Social,  “GREAT JOB NUMBERS, FAR BETTER THAN EXPECTED. IT’S ALREADY WORKING.”

  While all this was happening Trump was in Florida playing golf.

HANDS OFF!: In the first major protests since Donald Trump took office and began re-arranging the federal government and world economy, about 1,200 demonstrations are planned for today in all 50 states and six other countries. Nearly 400,000 people have signed up to attend the “Hands Off” rallies coordinated by a multitude of organizations. 

  “Donald Trump and Elon Musk think this country belongs to them,” the movement’s website says. “They’re taking everything they can get their hands on, and daring the world to stop them. On Saturday, April 5th, we’re taking to the streets nationwide to fight back with a clear message: Hands off!” 

  The protests have three primary demands: an end to the “billionaire takeover and rampant corruption” of the Trump administration; an end to cuts in federal funding for Social Security, Medicare; and an end to attacks on immigrants, trans people and other communities.

  If you want to get out there, you might find a nearby event here. 

BUT WAIT, THERE’S MORE:

— As the markets fell yesterday sparking fears of global economic chaos, Fox News fell in line with the White House. While other networks showed a ticker with the falling numbers, Fox ignored the actual news while anchor Harris Faulkner said; “President Trump is keeping another campaign promise. He tilted the global economy, and he’s done that to balance unfair trade and bring back manufacturing to the United States. And it’s getting response around the globe.”

— President Trump signed an order extending the ability of the Chinese-owned social media app TikTok to keep operating in the US for another 75 days. Negotiations for sale of the app to a US buyer collapsed when Trump placed draconian tariffs on Chinese imports. The President posted on Truth Social, “We do not want TikTok to ‘go dark.’ We look forward to working with TikTok and China to close the Deal.”

— A federal judge yesterday ordered the administration to bring back a legal-resident immigrant mistakenly sent to prison in El Salvador. The judge in Maryland ordered immigration officials to bring back Kilmar Abrego García by 11:59 pm on Monday.

  The trump administration claims García is a gang member even though he has no criminal record, had a job, legal residence, and an American wife and child. They also say they can’t bring him back because he’s now in custody of El Salvador. White House press secretary Karoline Leavitt said in an email to the Washington Post, “We suggest the Judge contact President Bukele because we are unaware of the judge having jurisdiction or authority over the country of El Salvador.”

— The Supreme Court yesterday sided with the Trump administration, temporarily, in a dispute over the Department of Education’s freeze of Diversity, Equity, Inclusion related grants. The Education Department is trying to claw back unspent money appropriated by Congress.

HOOP DREAMS: The No. 2 UConn women crushed the top seed UCLA 85-51 last night to win a spot in the championship game tomorrow afternoon.  Earlier in the evening South Carolina beat Texas 74-57setting up the final pair.

ONE TIMER: The Washington Capitals’ Alex Ovechkin scored two goals against the Chicago Blackhawks last night to tie Wayne Gretzky’s NHL career record of 894. 

THE SPIN RACK: British actor and comedian Russell Brand, 49, has been charged with rape and sexual assault the London Metropolitan Police announced. Four British women say the  offenses took place between 1999 and 2005. —-Federal Prosecutors are seeking more than seven years in prison for the colorful and disgraced former Long Island Rep. George Santos following his plea of guilty to charges of fraud and identity theft. The U.S. Attorney for the Eastern District of New York argued in a court filing that Santos’s “unparalleled crimes” had “made a mockery” of the country’s election system.

BELOW THE FOLD: The tabloids have nicknamed the surgically-altered Secretary of Homeland Security, Kristi Noem, “ICE Barbie.”

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