Bill Ackman, the billionaire hedge-fund manager behind Pershing Square, called for a 90-day pause in the tariffs to negotiate with other countries, warning that the alternative was “a self-induced, economic nuclear winter.”

Stocks fell sharply in early trading Monday, extending last week's massive sell-off, as the Trump administration showed no signs over the weekend of backing down from its plan to impose wide-ranging tariffs.

The tariffs, central to Trump’s second-term economic agenda, sparked a widespread selloff on Wall Street amid concerns that the new levies would drive up prices and tip the economy into a recession. Trump is imposing a 10% baseline tariff worldwide, with even higher levies on partners including Japan, Europe, South Korea and Vietnam.

Wall Street appears headed for a second major loss to end the week as investors try to assess the economic impact of President Trump’s tariffs. At mid-day

US stocks opened lower Monday as markets around the world tumbled over concerns about how President Donald Trump’s sweeping tariffs might upend the global economy and stymie US economic growth.

Listen below or on the go on Apple Podcasts and SpotifyThe following is an abridged transcript:It’s not often that something can dwarf the jobs report

Financial markets last week had their worst week since the onset of the COVID-19 pandemic in the wake of President Donald Trump's announcement of sweeping new tariffs. Foreign trade partners have already retaliated,

From the moment President Donald Trump unveiled his sweeping tariffs Wednesday through the ensuing market mayhem the following day, Treasury Secretary Scott Bessent’s phone lit up with text messages from executives tied to his former industry.