Today’s Headlines: The economic fallout from Trump’s sweeping tariff announcement sent markets crashing—Nasdaq fell 6%, S&P 500 4.8%, erasing $2 trillion in value. The dollar also dropped, and automaker Stellantis announced major layoffs. Global leaders condemned the tariffs, and France and Germany urged companies to pause U.S. investments. In response, bipartisan senators introduced a bill to limit the president’s unilateral tariff powers. Meanwhile, Trump fired several National Security Council members reportedly at the urging of far-right activist Laura Loomer. The Pentagon’s IG opened an investigation into National Security Advisor Pete Hegseth’s role in the Signal group chat scandal. The administration also banned U.S. personnel in China from relationships with Chinese citizens and is requiring public schools to certify they’ve eliminated DEI practices to keep federal funding. Brown University may lose over $500 million in grants amid unconfirmed reports of federal retaliation. Dr. Oz was confirmed to lead Medicare and Medicaid, overseeing a $2.6 trillion budget. And NYC Mayor Eric Adams announced he’s dropping out of the Democratic primary—and running as an independent.

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Morning Announcements is produced by Sami Sage alongside Bridget Schwartz and edited by Grace Hernandez-Johnson

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