Finance

A 10% Stock Drop: Scary, but Uncommon

The U.S. stock market has dropped 10% from its recent peak, mainly due to concerns about the economy and a global trade war. This decline, called a "correction," is common and often seen as a healthy reset after excessive market optimism. Despite strong gains over the past two years, the market’s recent drop raises fears it could signal the start of a "bear market" (a 20% drop). Initially driven by optimism over President Trump’s policies, the market now faces concerns over the potential economic impact of his administration.

TECH

US Tech Firms Struggle Amid China Tariffs

Deena Ghazarian's company, Austere, was just a year old when President Trump's trade policies threw it into turmoil. In 2019, her California-based firm, which specializes in high-end audio and video accessories made in China, had secured deals with major US retailers. But when Trump imposed tariffs on China, Deena suddenly faced a 25% surcharge on every cable and component imported, up from zero. Forced to absorb the additional costs, she feared her business would collapse. "I literally thought I am going to start and end a business in less than a year," she recalls. Though her company survived, like many others, it now faces a similar challenge as Trump has reintroduced a 20% tariff on Chinese goods and imposed a 25% tax on imports from Canada and Mexico, delaying some until April.

CRYPTO

Trump Family in Talks with Binance After Crypto Exchange’s Guilty Plea

Representatives of President Trump’s family have discussed acquiring a financial stake in the U.S. branch of crypto exchange Binance, according to sources familiar with the matter. This potential deal would connect Trump to a company that pleaded guilty in 2023 to violating anti-money-laundering laws. Simultaneously, Binance’s billionaire founder, Changpeng Zhao, who served four months in prison after pleading guilty to a related charge, has been lobbying the Trump administration for a pardon, with Zhao remaining Binance's largest shareholder.