Stock Market Hammered, Columbia Ring Leader Legal Battle, 83% of USAID Programs Sacked

Stock Market Hammered, Columbia Ring Leader Legal Battle, 83% of USAID Programs Sacked

 Wall Street investors face a massive downturn as the Dow Jones plunges 900 points following President Trump's refusal to rule out a recession. Major political developments unfold simultaneously with the ICE arrest of a Columbia University protest leader and Secretary Rubio announcing cuts to 83% of USAID programs.

• Market crash triggered by Trump's comments framing economic uncertainty as a "transition period"
• Tesla shares tumble 15% with all "Magnificent Seven" tech stocks dropping more than 2.4%
• JPMorgan raises recession probability to 40%, up from 30% at the start of 2023
• ICE arrests Mahmoud Khalil, key Columbia protest figure and alleged national security threat
• Trump administration identifies 10 universities for investigation, including Harvard and NYU
• Secretary Rubio announces cancellation of 5,200 USAID contracts worth $58.4 billion
• Tension between Elon Musk and Rubio over pace of agency restructuring
• Remaining 18% of USAID programs to be transferred to State Department control

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Source Credits:

https://nypost.com/2025/03/10/business/dow-sinks-700-points-nasdaq-sheds-4-after-trump-recession-comments/ https://nypost.com/2025/03/10/us-news/columbia-agitator-mahmoud-khalil-was-probed-as-national-security-threat-as-trump-calls-ice-bust-first-arrest-of-many/ https://nypost.com/2025/03/10/us-news/rubio-says-83-of-usaid-programs-to-be-scrapped-after-initial-plan-to-cut-58b-in-contracts-grants/ 

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