U.S. stocks are tumbling as worries about President Donald Trump’s trade war and his criticism of the Federal Reserve cause investors to pull further from the United States. The S&P 500 fell 2.6% Monday and was 16% below its record set two months ago.
Senate Democratic Leader Chuck Schumer says “Pete Hegseth must be fired” after sources told The New York Times and The Associated Press that the defense secretary created another Signal messaging chat to share military air strike details.
And President Donald Trump and first lady Melania Trump welcomed a crowd estimated to include 40,000 people at the first White House Easter Egg Roll of his second term.
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JD Vance was one of the last leaders to meet with Pope Francis
One of Pope Francis’ final encounters before his death was with U.S. Vice President JD Vance, who visited the Vatican over the weekend.
The meeting took place on Easter Sunday. Vance, a Catholic convert, entered the room and reached down for the pope’s hand. “Hello,” the vice president said. “So good to see you.”
Vance’s visit was not without political sensitivities, and he met with Cardinal Pietro Parolin on Saturday for what the Vatican described as “an exchange of opinions.” The Catholic Church, under Francis’ leadership, has championed the rights of migrants, while Vance and President Donald Trump have advocated for crackdowns.
Vance’s office said the vice president and the cardinal “discussed their shared religious faith, Catholicism in the United States, the plight of persecuted Christian communities around the world, and President Trump’s commitment to restoring world peace.”
White House press secretary Karoline Leavitt told reporters that she had spoken to members of Vance’s team on Monday morning after Francis’ death.
“They expressed how excited and grateful they were for the opportunity to have met with the pope just yesterday,” she said.
▶ Read more about Pope Francis and Vance’s meeting
Autoparts industry seeks tariff relief from Trump
The U.S. autoparts industry is asking Trump to pause his tariffs so that manufacturers have time to open domestic manufacturing.
The Specialty Equipment Market Association, which represents manufacturers, distributors and retailers in the autoparts sector, sent Trump and his top aides on trade policy a letter Monday that seeks economic relief.
In addition to a “transition period” to “re-shore” manufacturing, the group is seeking “some form of economic relief” that could include tariff exemptions for molds, tooling and machinery brought into the United States as well as tax incentives to defray the costs of doing so. The letter gives a specific example of how a Louisiana factory would struggle to manage the cost of expanding because its machinery needs to be imported from Germany or China.
Trump has imposed 25% tariffs on autos, though there are some protections under the USMCA North American free trade pact.
Homeland Security Secretary Noem’s purse stolen at D.C. restaurant
Homeland Security Secretary Kristi Noem’s purse was stolen at a Washington, D.C., restaurant on Easter night, according to department officials.
Noem’s children and grandchildren were in town for the holiday Sunday, and she had money in her purse to treat them to dinner and activities and to buy gifts, an email from Homeland Security said.
The email didn’t specify what was stolen, but CNN — which was first to report the story — said the thief took about $3,000 in cash, as well as Noem’s keys, driver’s license, passport, checks, makeup bag, medication and Homeland Security badge.
The secretary of Homeland Security is protected by U.S. Secret Service agents.
The Secret Service referred questions about the incident to Homeland Security headquarters.
Trump meeting with major retailers as tariffs create anxieties
President Donald Trump is slated to meet on Monday with executives from Walmart, Target, Home Depot and Lowe’s, as concerns about his tariffs have rattled major U.S. retailers.
Trump’s baseline tariffs of 10% and import taxes of 145% on Chinese goods have created broader concerns about higher inflation and an economic slowdown. That’s created uncertainty and increased fears of a recession. The meeting was confirmed by an administration official who insisted on anonymity as the sitdown is not on Trump’s public schedule.
Bloomberg News first reported the meeting.
-By Joshua Boak
Trump says he was elected to move migrants out of the US
Trump is defending evoking the Alien Enemies Act of 1798, suggesting that cracking down on immigration was why he won in November.
Those comments followed Trump suggested that he agreed with Pope Francis’ message of tolerance for migrants.
“I was elected to clean up the mess in this country,” he said. “We had millions and millions of people come in who are criminals.”
He added, “I was elected to move them out.”
The about-face came as Trump spoke to reporters amid Easter festivities.
Actually, studies show people living in the U.S. illegally are less likely than native-born Americans to have been arrested for violent, drug and property crimes.
Trump evoked the Alien Enemies Act to deport Venezuelan migrants to a mega-prison in El Salvador. That’s drawn legal challenges, including a hearing in federal court later Monday.
Vance’s team says trade talks with India are progressing
Vice President JD Vance’s office says that ‘significant progress’ has been made in trade talks with India.
Vance and his wife, Usha, met on Monday with Indian Prime Minister Narendra Modi. They discussed the U.S.-India Bilateral Trade Agreement, which could possibly help to integrate supply chains between the two countries, according to a statement by Vance’s office.
Vance’s office said the talks had laid down “a roadmap for further discussions about our shared economic priorities.”
The Trump administration has made trade deals that box out China, the world’s dominant manufacturer, a priority.
Trump calls Francis ‘a good man’ and says he agrees with popes message of tolerance for migrants — despite hardline immigration policies
Trump called Pope Francis “a very good man who loved the world.”
“And he especially loved people that were having a hard time, and that’s good with me,” the president added.
Speaking to reporters on the sidelines of Easter festivities at the White House, Trump said he was still working on his schedule and wasn’t sure he attended Frances’ funeral. Asked if he agreed with the pope’s message of tolerance for migrants, Trump responded “Yeah, I do” but didn’t elaborate.
That comment came despite Trump making cracking down on the U.S.-Mexico border and championing hardline immigration policies a centerpiece of his second term. That’s included deporting migrants from the U.S. to Guantanamo Bay in Cuba, and a Salvadoran mega-prison.
Trump appears to scoff at questioning about Hegseth’s use of Signal app
Trump turned a question about his defense secretary back onto the reporter.
“Why do you even ask a question like that?” Trump asked. He then talked about higher military recruitment since he took office. ”The spirit in the Armed Forces is fantastic. Great confidence.”
Asked if he was comfortable with Hegseth using Signal, Trump said, “Are you bringing up Signal again? I thought they gave that up two weeks ago. It’s all, uh, it’s the same old stuff … that’s an old one. Try finding something new.”
Trump says media should ‘ask the Houthis’ how Hegseth is doing
The president offered full-throated backing of his defense secretary following media reports that Hegseth shared sensitive military details in another Signal messaging chat, including with his wife and brother.
Asked by reporters if he still had confidence in Hegseth amid the latest revelations, Trump responded the media should pose that question to the Iran-backed Houthi militants in Yemen, who have been facing a barrage of U.S. airstrikes in recent weeks.
“Ask the Houthis how he’s doing,” Trump said. He added, “Ask the Houthis how much dysfunction...There is none.”
Trump also appeared to blame recently dismissed Pentagon aides for being behind the reports.
“It’s just fake news. They just bring up stories,” Trump said. “I guess it sounds like disgruntled employees. You know, he was put there to get rid of a lot of bad people, and that’s what he’s doing. So you don’t always have friends when you do that.”
Melania Trump reads to children at White House Easter Egg Roll
She read “Bunny with a Big Heart” by Marilyn Sadler at a reading nook.
When she was done, the first lady asked the kids to tell her what they learned from the story. A couple said “kindness.”
Other administration officials scheduled to read books at the event include White House press secretary Karoline Leavitt.
Trump praises military recruitment during Easter Egg Roll speech
Trump used his remarks kicking off the White House Easter Egg Roll to touch on some non-Easter themes after promising the children they would have “a lot of fun.”
The president said the U.S. is “doing very well,” and to support this, said military and law enforcement recruitment and enrollment have been “setting records” since he was elected to a second term.
“Happy Easter and enjoy your lives,” Trump declared from the Blue Room balcony, where he was flanked by the first lady and a person in a bunny costume. “We’re going to have a great four years.”
The Trumps then descended the stairs and the president blew a gold whistle to start the roll. Some children lobbed their eggs skyward rather than rolling them.
U.S. stocks are tumbling Monday as investors pull further from the United States over worries about Trump.
The S&P 500 fell 2.6% Monday and was 16% below its record set two months ago. The Dow Jones Industrial Average dropped 1,000 points, and the Nasdaq composite sank 2.9%.
Perhaps more worryingly, the value of the U.S. dollar also sank as a retreat continues from U.S. markets. This is unusual because the dollar has historically strengthened during past episodes of nervousness.
This time around, it’s the Trump administration’s policies that are causing the fear and potentially weakening the dollar’s reputation as a pillar of the global economy and one of the safest possible investments.
▶ Read more about market movements in reaction to Trump
Trump participates in the White House Easter Egg Roll, says ‘religion is coming back’ in America
The president made comments from the White House balcony, flanked by Mrs. Trump and a person wearing an Easter bunny costume.
Trump thanked the National Park Service for “making everything so beautiful and spiffy,” and the first lady for organizing the egg roll.
“I’m very difficult when it comes to that,” Trump said of preparations for White House celebrations. “They have done an incredible job. You just have to look around and see.”
Trump added, “Easter is special and it’s one of our favorite days.”
Defense Secretary lashes out after reports he shared military details in a second Signal chat
“This is what the media does,” Pete Hegseth said at the White House Easter Egg Roll.
“They take anonymous sources from disgruntled former employees, and then they try to slash and burn people and ruin their reputations. Not going to work with me.”
Hegseth did not deny the reports.
“I have spoken to the president, and we are going to continue fighting, on the same page all the way,” he said.
Trump calls Federal Reserve chairman a ‘major loser’ as markets sink
Trump again urged Jerome Powell to boost the economy by lowering the central bank’s key short-term interest rate.
Trump asserted that energy and grocery prices are “substantially lower” and “there is virtually No Inflation.” Gas prices have fallen, in part because oil costs have dropped on fears of slower growth, but food prices have risen and overall inflation remains above the Fed’s 2% target.
Stock prices were already falling after White House economist Kevin Hassett said Friday that the administration is studying whether it can fire Powell. With Trump’s Truth Social post Monday, the S&P 500 stock index dropped nearly 2% in morning trading.
Trump’s threats also have driven down the dollar and pushed up the interest rate on 10-year Treasuries, a benchmark for mortgage rates.
▶ Read more about market reaction to Trump’s pressure on the Federal Reserve
Secondhand stores are poised to benefit as tariffs drive up new clothing costs
Nearly all clothing sold in the U.S. is made elsewhere, and that means higher prices as businesses the world over seek to survive Trump’strade war.
The Yale University Budget Lab last week estimated short-term consumer price increases of 65% for clothes and 87% for leather goods. The price hikes may drive cost-conscious shoppers to search for bargains and get cash from their own wardrobes.
Mobile apps for resale marketplaces are being downloaded at a rate not seen in years, according to market research firm Sensor Tower. It’s not yet clear though whether Trump’s tariffs will hold long enough to change behavior. And the purveyors of secondhand goods may raise their own prices.
▶ Read more about thrifting in response to Trump tariffs
60,000 Americans to lose their rental assistance and risk eviction unless Congress acts
The U.S. Department of Housing and Urban Development says the $5 billion program launched by President Joe Biden to help pull people out of homelessness, domestic violence and human trafficking will run out of money by the end of next year.
Analysts say the Emergency Housing Vouchers were intended to keep paying rents for nearly a decade, but the money is running out as rents rise. It’s up to Congress to extend the funding, but the Republicans in control are dead-set on cutting spending to support tax cuts.
Democratic Rep. Maxine Waters championed the program and is pushing for another $8 billion infusion. Four GOP lawmakers who oversee the budget negotiations did not respond to AP requests for comment.
▶ Read more about the looming end of a rental assistance program
White House expresses support for Hegseth following new Signal chat revelations
The White House is expressing support for Pete Hegseth following media reports that the defense secretary created another Signal messaging chat that included his wife and brother where sensitive military information was shared.
The New York Times first reported Sunday evening that the embattled Pentagon leader shared details of a March military airstrike against Yemen’s Houthi militants that were similar to those sent in another chain with top Trump administration leaders. A person familiar with the contents and those who received the messages confirmed the second chat to The Associated Press.
White House press secretary Karoline Leavitt said Monday that Trump “stands strongly behind” Hegseth. She tried to dismiss the reporting by saying “this is what happens when the entire Pentagon is working against you.”
Hegseth told reporters Monday that he had spoken with the president and “we are going to continue fighting.”
▶ Read more about Hegseth’s Signal chats controversy
—- By Tara Copp.
The American Egg Board acknowledges shortage as it donates 30,000 eggs for the roll
Egg Board President and CEO Emily Metz says the eggs were hand-dyed by board staff and volunteers and delivered to the White House on Friday.
She said the board understands the frustration felt by egg farmers and consumers over the egg shortage caused by the spread of avian flu and how expensive it’s become to buy a dozen.
She said these donated eggs were small and medium, sizes not typically sold by retailers, to avoid contributing to even higher prices. Nearly 9 million dozen eggs are sold daily in the United States, she noted.
“You cannot have the White House Easter Egg Roll without real eggs,” Metz said in an interview.
Trumps to preside as thousands attend the White House Easter Egg Roll
President Donald Trump and first lady Melania Trump expected to welcome 40,000 people to the first White House Easter Egg Roll of his second term — an event that could turn soggy with scattered showers in Monday’s forecast.
Children will line up to guide colorfully dyed hard-boiled eggs across a patch of lawn to a finish line. There’s also an egg hunt and activities to promote next year’s 250th anniversary of America’s founding.
Kids and families can sign a mini-Declaration of Independence or dress up as Founding Fathers during the daylong event that will feature multiple activity stations, live performances and story times, including readings by the first lady and administration officials.
▶ Read more about the White House Easter Egg Roll
China warns other countries against US deals that harm Chinese trade
“China firmly opposes any party reaching a deal at the expense of China’s interests,” China’s Commerce Ministry said in a statement Monday. “If this happens, China will never accept it and will resolutely take countermeasures in a reciprocal manner.”
Governments including those of Taiwan, Japan and South Korea have begun negotiations with Washington after Trump announced sweeping tariffs against almost all of America’s trading partners on April 2. The import taxes were quickly paused against most countries after markets panicked, but he increased his already steep tariffs against China.
U.S. Treasury Secretary Scott Bessent has said that other countries should “approach China as a group” together with Washington.
▶ Read more on China’s reaction to Trump’s tariffs
Hegseth shared details of Yemen strike in a second Signal chat
Defense Secretary Pete Hegseth created another Signal messaging chat that included his wife and brother where he shared similar details of a March military airstrike against Yemen’s Houthi militants that were sent in another chain with top Trump administration leaders, The New York Times reported.
A person familiar with the contents and those who received the messages, who spoke on condition of anonymity to discuss sensitive matters, confirmed the second chat to The Associated Press.
The second chat on Signal — which is a commercially available app not authorized to be used to communicate sensitive or classified national defense information — included 13 people, the person said. They also confirmed the chat was dubbed “Defense ′ Team Huddle.”
The New York Times reported that the group included Hegseth’s wife, Jennifer, who is a former Fox News producer, and his brother Phil Hegseth, who was hired at the Pentagon as a Department of Homeland Security liaison and senior adviser. Both have traveled with the defense secretary and attended high-level meetings.
▶ Read more about Hegseth’s reported second Signal chat
Alito’s dissent says court rushed to block Trump with middle-of-the night order
The Supreme Court acted “literally in the middle of the night” and without sufficient explanation, Justice Samuel Alito wrote in a sharp dissent that castigated the seven-member majority.
Joined by fellow conservative Justice Clarence Thomas, Alito said there was “dubious factual support” for granting the request in an emergency appeal from the American Civil Liberties Union. The group contended that immigration authorities appeared to be moving to restart such removals under the Alien Enemies Act of 1798.
The majority did not provide a detailed explanation in the order early Saturday, as is typical, but the court previously said deportations could proceed only after those about to be removed had a chance to argue their case in court and were given “a reasonable time” to contest their pending removals.
The justices’ brief order directed the administration not to remove Venezuelans held in the Bluebonnet Detention Center “until further order of this court.”
Alito said that “unprecedented” relief was “hastily and prematurely granted.”
▶ Read more about Alito’s dissent
Supreme Court blocks, for now, new deportations under 18th-century wartime law
The Supreme Court on Saturday blocked, for now, the deportations of any Venezuelans held in northern Texas under an 18th-century wartime law.
In a brief order, the court directed the Trump administration not to remove Venezuelans held in the Bluebonnet Detention Center “until further order of this court.”
Justices Clarence Thomas and Samuel Alito dissented.
The high court acted in an emergency appeal from the American Civil Liberties Union contending that immigration authorities appeared to be moving to restart removals under the Alien Enemies Act of 1798. The Supreme Court had said earlier in April that deportations could proceed only if those about to be removed had a chance to argue their case in court and were given “a reasonable time” to contest their pending removals.
The Trump administration later Saturday filed paperwork urging the high court to reconsider its hold. Press secretary Karoline Leavitt said Saturday in a post on X: “We are confident we will ultimately prevail against the onslaught of meritless litigation brought by radical activists.”
▶ Read more about the court’s ruling
The Associated Press
