The Evening: Stocks keep falling

Also, Trump granted TikTok another reprieve.

View in browser|nytimes.com April 4, 2025 By Matthew Cullen Good evening. Here's the latest at the end of Friday. The widening trade war A reprieve for TikTok Plus, Ovechkin's record chase The New York Times The stock market rout worsened China struck back today against President Trump's new tariffs, promising to match his plan to place a 34 percent fee on goods from China with its own 34 percent tariff on imports from the U.S. The escalation intensified fears of an economic slowdown and helped fuel a further sell-off in U.S. stocks. The S&P 500 plunged nearly 6 percent, ending its worst week since March 2020, the beginning of the Covid-19 pandemic. The dollar fell, as did oil prices. Tariff concerns seemed to overshadow a positive report about the U.S. labor market. Jerome Powell, the chair of the Federal Reserve, warned that Trump's tariffs could stoke higher inflation and slower growth. But the president has stuck to his guns; he likened the levies to a painful medical procedure to rescue an economy that he described as a "sick patient." What to consider: For those who are tempted to panic, my colleague who writes the Your Money column recommends sitting down and having a $1.50 hot dog instead. For upcoming retirees, the current financial environment can be perilous. Here are steps to weather the volatility. Grocery shoppers are likely to see the effects in the produce aisle first. Protesters at the U.S. District Court in Greenbelt, Md., today.  Rod Lamkey Jr. for The New York Times A judge ordered the return of a mistakenly deported man A federal judge today gave the Trump administration three days to secure the return of a Maryland man who was inadvertently deported to El Salvador last month despite a court order allowing him to stay in the U.S. The judge said that the administration had acted without "legal basis" when it arrested the man, Kilmar Armando Abrego Garcia, and put him on a plane — without due process — to a notorious Salvadoran prison. Juan Arredondo for The New York Times Trump granted TikTok another reprieve Trump announced today that the popular video app TikTok could continue to operate in the U.S. for another 75 days, effectively overriding — for the second time this year — a federal law requiring TikTok's Chinese owners to sell it or face a ban. TikTok had been facing a deadline tomorrow to comply with the law, which passed with broad bipartisan support in Congress and was unanimously upheld by the Supreme Court. The delay came after tense, last-minute negotiations. Vice President JD Vance, whom Trump tapped to help oversee the talks, said yesterday that a deal was imminent. Amazon submitted a bid, and the private equity giant Blackstone also weighed taking a stake. In other politics news: In a 5-4 decision in response to an emergency application, the Supreme Court let the Trump administration temporarily suspend $65 million in teacher-training grants. A North Carolina court ruled that 65,000 voters needed to verify their identities or have their ballots thrown out, which could overturn last year's State Supreme Court election. Trump sidelined the Justice Department's Office of Legal Counsel, eroding another check on his power. A felon whose sentence Trump commuted was sent back to prison after a child assault charge. Federal worker unions sued to block Trump's effort to strip them of bargaining rights. A 23-year-old law student raised $25 million for Democrats who lost in Florida. Critics questioned his profits. Trump weighed in on French politics, declaring, "FREE MARINE LE PEN!" Chang W. Lee/The New York Times South Korea removed its president South Korea's top court ended months of political turmoil when it unanimously decided today to remove the impeached president Yoon Suk Yeol, who attempted a military takeover last year. The move cleared the way for the country to elect a new leader. Yoon, who had defiantly held on to his job, must vacate his hilltop presidential residence in central Seoul. The government will schedule a national election, and his successor must be chosen within 60 days. More top news U.S.: Theodore McCarrick, the former archbishop of Washington and the highest American prelate of the Roman Catholic Church to be accused of sexually abusing minors, died at 94. Weather: From Arkansas to Michigan, communities have been on high alert for pounding rain and more floods. Middle East: Hundreds of protesters in Beit Lahia in northern Gaza called for Hamas to step aside as Israel pressed deeper into Gaza City. Russia: Live drone footage allows Ukraine to observe what it views as war crimes unfolding in real time. The Times obtained an example. Britain: Prosecutors charged Russell Brand, the comedian and actor, with multiple counts of sexual assault, including two counts of rape. Investigation: In some parts of Texas, misdemeanor defendants routinely face charges without a lawyer. Los Angeles: Fires in January burned thousands of homes. On one block in Altadena, 34 of 35 houses were destroyed. The Times looked at who lived there and what they lost. Archaeology: Under a soccer field in Vienna, a construction company unearthed a mass grave from when the Roman Empire was battling Germanic tribes almost 2,000 years ago. TIME TO UNWIND Hannah Edelman for The New York Times Pierce Brosnan knows you call him Bond Pierce Brosnan has embodied quite a few characters since he made four James Bond movies in the 1990s and early 2000s. Right now, he is starring in the gangster series "MobLand." But to this day, people still address him as Mr. Bond. On a recent visit to Manhattan's Guggenheim Museum, he talked with my colleague Alexis Soloski about an arguably greater role. Brosnan worked as a commercial artist in his teens and wanted to be a painter, but a difficult childhood left him "behind the eight ball." But it also gave him the freedom, he said, to create "this persona for myself called Pierce." Jared C. Tilton/Getty Images The N.H.L. is ready for Ovechkin's crowning moment Wayne Gretzky's N.H.L. goal-scoring record is almost certainly coming to an end. The only question is when. Alex Ovechkin is just three goals away from surpassing Gretzky, with seven games remaining in the season. The league is ready for it to happen at any moment, starting tonight when Ovechkin's Washington Capitals host the Chicago Blackhawks. Gretzky is expected to attend, and 10 extra cameras are planned to capture the drama, including one following Ovechkin for a dedicated "OviCast." Whenever Ovechkin does break the record, the rest of the game will be delayed for a formal celebration and ceremony. Dolly Faibyshev for The New York Times Dinner table topics "Good Night, and Good Luck": Dozens of stars came out for George Clooney's Broadway debut. Read our review. Humanoid bots: One company plans to begin testing robots as at-home butlers. Here's what they're like. Sit-down chains: The boom in America's middle-class sit-down restaurants, like Pizza Hut, has come and gone. Remote houses: The designer Tapio Wirkkala was captivated by the northernmost part of Finnish Lapland. WHAT TO DO THIS WEEKEND Linda Xiao for The New York Times. Food Stylist: Sue Li. Cook: This salmon with radicchio and anchovy sauce makes for a flavorful dinner for two. Watch: The director of "A Minecraft Movie" narrated an adventure sequence. Read: "Heartwood" is one of the best new books to check out this week. Listen: Our critic broke down "Nokia" by Drake, the song of the week. Avoid: Experts say the silent treatment ruins relationships. Debate: Is Hawaiian pizza a classic? Lounge: Wirecutter tested 56 pajama sets. These are their favorites. Compete: Take this week's news quiz. Play: Here are today's Spelling Bee, Wordle and Mini Crossword. Find all of our games here. ONE LAST THING Kieran Dodds for The New York Times This fiddle has a personal bodyguard Tomorrow at Carnegie Hall, a Scottish national treasure is making an appearance. The dignitary is a 270-year-old folk fiddle covered in stylized decorations. It was carefully flown over the Atlantic this week. The fiddle will be used in the night's final performance of "Auld Lang Syne," by the Scottish poet Robert Burns. The instrument once belonged to the dance master William Gregg, who taught him. "Just to be able to hear it gives you a connection to Robert Burns," said the violinist Duncan Chisholm, who will play it. Have a resounding weekend. Thanks for reading. I'll be back on Monday. — Matthew Kirsten Luce was our photo editor today. We welcome your feedback. Write to us at evening@nytimes.com. Writer: Matthew Cullen Editors: Carole Landry, Whet Moser, Justin Porter Need help? Review our newsletter help page or contact us for assistance. You received this email because you signed up for The Evening from The New York Times. To stop receiving The Evening, unsubscribe. To opt out of other promotional emails from The Times, including those regarding The Athletic, manage your email settings. To opt out of updates and offers sent from The Athletic, submit a request. 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Breaking news: Supreme Court lets Trump suspend grants to teachers over D.E.I. initiatives

The ruling was an early victory for the Trump administration.

View in browser April 4, 2025, 5:23 p.m. ET BREAKING NEWS Kenny Holston/The New York Times Supreme Court Lets Trump Suspend Grants to Teachers The justices let the Trump administration temporarily suspend $65 million in teacher-training grants that the government contends would promote diversity, equity and inclusion initiatives. The ruling was an early victory for the administration. Read more More coverage President Trump sounded a defiant note as tariffs roiled markets again. → The Trump administration was ordered to return a Maryland man who was mistakenly deported. → Meet the 23-year-old student who raised $25 million in Democratic losses. → Need help? Review our newsletter help page or contact us for assistance. You received this email because you signed up for Breaking News from The New York Times. To stop receiving Breaking News, unsubscribe. To opt out of other promotional emails from The Times, including those regarding The Athletic, manage your email settings. To opt out of updates and offers sent from The Athletic, submit a request. Subscribe to The TimesGet The New York Times app Connect with us on: Change Your EmailPrivacy PolicyContact UsCalifornia Notices The New York Times Company. 620 Eighth Avenue New York, NY 10018