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Chapter 1: What are the headlines for April 4, 2025?
Live from NPR News in Washington, I'm Jack Spear. U.S. stocks were in free fall for a second day today as President Donald Trump continues to push his global tariffs. The Dow Jones Industrial Average fell more than 2,000 points for just the fourth time in history. The Nasdaq and the S&P suffered even larger losses.
Chapter 2: How are global tariffs affecting the stock market?
NPR's Maria Aspin says investors and average Americans alike have seen trillions of dollars in wealth evaporate over just the past few days.
About 60 percent of U.S. households own stocks, according to the Federal Reserve. And the market is where people usually have their retirement savings invested through 401ks or other retirement plans.
Chapter 3: What is the impact of tariffs on the auto industry?
Trump has shrugged off the market decline, saying he, quote, will stick with his tariff plan. As tariffs lead to layoffs and factory closures in the auto industry, the Mercedes-Benz plant in Alabama plans to hire more U.S. workers. Stephen Beshahov of the Gulf States Newsroom reports Mercedes told workers it is seeing strong demand for its Alabama-built vehicles.
A Mercedes spokesperson confirmed a flyer posted in the plant that announced a ramp-up in production. The German automaker did not say how many new workers will be hired. Some of its current employees will work more shifts starting in July. Mercedes also said it's too soon to know the tariff's full effect.
The decision to increase production was made before Tuesday's tariff announcements, though Trump promised tariffs on carmakers since the 2024 presidential election. Meanwhile, Stellantis, which owns brands like Jeep and Chrysler, announced it's laying off 900 U.S. workers because of the tariffs. For NPR News, I'm Stephen Passaha in Birmingham, Alabama.
The Supreme Court is signing with the Trump administration in a dispute over the Department of Education's freezing of millions of dollars in DEI-related grants. NPR's Alyssa Nadworny has the story.
Chapter 4: How is the Supreme Court ruling affecting education grants?
By a 5-4 vote, the justices allowed the administration to cancel grant funding for teacher training programs at public and private universities. The grant was for two programs that provided training and professional development for aspiring educators. Many high-need institutions, including historically black colleges and universities, were among the recipients.
Eight states whose universities and nonprofits had their grants terminated sued, arguing that the Department of Education's decision to cancel the grants violated federal law, as the money had already been appropriated by Congress.
In response, the government argued that it was well within its broad regulatory authority to cancel the grants because, quote, DEI initiatives are no longer aligned with government policy. Alyssa Nadwani, NPR News.
Just in time for tax day, the Internal Revenue Service has begun making sweeping cuts to its workforce. That's according to an agency-wide email viewed by NPR, which says the cuts will roll out over the next 30 to 90 days. The Washington Post is reporting more than 20,000 employees will be cut, roughly 20 to 25 percent of the agency's workforce.
The cuts come less than two weeks before the April 15th filing deadline. This is NPR. U.S. officials and lawmakers are confirming President Trump has fired the head of the National Security Agency. Neither the White House or the Pentagon are providing any reason for the firing of Air Force General Tim Howe, who oversaw the Pentagon Cyber Command.
Officials say they received no advance notice of the decision to fire the four-star general, who spent 33 years in intelligence and cyber operations. It's not clear who's in charge of the NSA and Cyber Command at the moment. In Tampa, Florida, college basketball's women's final four is taking place tonight. It features some very familiar schools with basketball legacies. Steve Futterman reports.
In the first semifinal match, defending champion South Carolina plays Texas. In the nightcap, Connecticut plays the number one ranked team, UCLA. UConn has a record 11 women's titles, but hasn't won since 2016. It's led by its great All-American Paige Beckers, who's wrapping up her college career last hoping to win her first championship.
Anything less than a national championship is really a disappointment. As players, that's what you play for and what you want to live up to.
UCLA hasn't won a women's basketball title since 1978. Texas last won in 1986. For NPR News, I'm Steve Futterman in Tampa, Florida.
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