MeidasTouch host Ben Meiselas reports on the completely chaotic Monday morning in the markets, in the United States, and throughout the world, inflicted by Donald Trump’s irrational and despicable behavior. Visit https://meidasplus.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Coalition of the Sane: https://meidasnews.com/tag/coalition-of-the-sane Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: What caused the market chaos on Monday?
Donald Trump returned to Washington, D.C. It was absolute chaos and mayhem this morning. Initially, the markets opened and started to tank more than we've really ever seen in modern history. Then there was some unfounded rumor that Donald Trump was going to be pausing the tariffs for a 90 day period. The stock market then shot up very quickly.
Then the Trump rapid response team said fake news, and then the market began to crash again. You know, normally on these videos, I would put up where the market is, but right now it is going down, up, down, up. The volatility is so unprecedented in its nature, not the way a stable market is supposed to look.
I don't want to even share it because in 510 minutes after I post this video or a half hour after it's posted, it may look entirely different. Suffice to say, I think to be a responsible reporter in this moment, I need to say it is just absolutely chaotic with volatility like we've never seen before. When I have a bigger snapshot, I'll, of course, report on what that is.
But I don't want to in this moment in any way cause signals that could be problematic in any way. But let me just share with you what happened as we all woke up to the opening of the market. It officially became the worst three day performance of the S&P 500 since October of 1987, with the S&P falling more than 20%. from its February closing high on pace to confirm a bear market.
Here was the moment where there was this unfounded rumor about this 90 day tariff pause to which the Trump response team said wrong fake news. You'll see here this account, Unusual Whales, which covers the market, says this is absolute comedy. I wouldn't really refer to it as that.
the market was blood red today then an unattributed rumor was starting on x that there was consideration of a 90-day tariff pause the market turned green then five minutes later the white house denied the rumor the market became red again then donald trump posted that he was going to impose additional tariffs on china and not have any further discussions with china
would basically mean if you add up all the tariffs on China over 100%. Donald Trump posted yesterday, China issued retaliatory tariffs of 34% on top of their already set record setting tariffs, non-monetary tariffs, illegal subsidization of companies. And it goes on and on and on. And then it says, therefore, if China does not withdraw its 34% increase above,
They're already long-term trading abuses by tomorrow, April 8th, 2025. The United States will impose additional tariffs on China of 50% effective April 9th. Additionally, all talks with China concerning their requested meetings with us will be terminated. Negotiations with other countries, which have also requested meetings, will begin taking place immediately.
Thank you for your attention to this matter. This would bring the tariffs to China above 100%. You see right here this cartoon. I always think these political cartoons encapsulate the moment Trump on Fifth Avenue shooting the economy. Also, as Axios reported over the past few days, and we talked about this when the Trump tariffs were initially announced, which he calls Liberation Day.
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Chapter 2: How did rumors affect the stock market?
Working in Maryland, would check into ICE regularly. The Trump regime kidnapped him, sent him to the El Salvador concentration camp. The Fourth Circuit Court of Appeals confirmed the district court order saying you need to return him immediately by midnight. Donald Trump is appealing the Fourth Circuit ruling to the Supreme Court.
It was a particularly powerful ruling by the Fourth Circuit Court of Appeals affirming what the district court said, get this guy back to the United States. He had protected status. He's not a criminal. You can't kidnap people and send them to concentration camps. This is the ruling from the Fourth Circuit Court of Appeals. It says the following.
The panel unanimously agrees that the district court's order requiring the government to facilitate and effectuate the return of plaintiff Kilmore Armando Abrego-Garcia to the United States by no later than 1159 p.m. on Monday, April 7, 2025, should not be stayed. The government's motion to stay is therefore denied. I write to explain my view. The United States government has no legal authority to
snatch a person who is lawfully present in the United States off the street and remove him from the country without due process. The government's contention otherwise and its argument that the federal courts are powerless to intervene are unconscionable. Donald Trump immediately appealed that to the Supreme Court. That's where we stand right now.
I'll give you more updates, of course, as I get more data. Thanks for watching and hit subscribe and let's get to 5 million subscribers.
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