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Terms apply. Hey there, from CNN, I'm Christa Beau with the 5 Things You Need to Know for Monday, April 7th.
U .S. stocks were extremely volatile this morning, amid growing fears over how sweeping U .S. tariffs could disrupt the global economy.
The S &P 500 opened in bear market territory this morning, before pulling back.
If the index closes in bear market territory, which is a 20 % decline from a recent peak, that would be the 2nd fastest peak to bear market shift in history.
I don't want anything to go down.
But sometimes you have to take medicine to fix something.
That was President Donald Trump yesterday, digging in on his tariff strategy — which he said is designed to rectify lopsided trade between America and its partners.
As global markets slide, Trump's urging patience and warning against panic.
And eventually it's going to straighten out and our country will be solid and strong again.
The president said this morning countries from all over the world, including Japan, are trying to negotiate the reciprocal tariffs set to kick in on Wednesday.
And Europe says this morning they're ready to negotiate, with the EU president offering zero tariffs of industrial goods.
But investors are clearly not convinced by the wisdom of Trump's plan.
And the wild stock swings today show how badly they want Trump to pause the trade war.
JP Morgan Chase CEO Jamie Dimond warned today that the tariffs threaten to raise prices, drive the global economy into a downturn, and weaken America's standing in the world.
Everything that Doge does is an open book.
So we're, I think, the most transparent organization in government ever.
That's Elon Musk defending the Department of Government Efficiency's federal cost -cutting operation on Fox News last week.
But that's not how a former employee would describe it.
I believe that Doge is highly secretive.
and I believe that they have a different set of rules.
Marisi Vinton started working at the U .S. Digital Service in 2021— before Trump transformed the Obama -era executive branch into Doge.
She told CNN she voluntarily left in March, because massive layoffs and vague leadership made it hard to do the work.
I want Americans to try to understand that it is a wrecking ball, and that it's not a scalpel.
And it is going to dramatically decrease government's capacity to deliver services and benefits in the next few years.
Doge officials did not respond to CNN's request for comment.
Prosecutors say two U .S. border inspectors in Southern California have been charged with taking thousands of dollars in bribes to allow people to enter the country through the nation's busiest port of entry without showing documents.
U .S. Customs and Border Protection officers Fairlys Almonte and Ricardo Rodriguez worked at the San Ysidro port of entry in San Diego.
An unsealed criminal complaint say they had allegedly exchanged phone messages with human traffickers in Mexico and had unexplained cash deposits in their bank accounts.
It's not immediately clear if Almonte has an attorney to speak on his behalf.
But Rodriguez's attorney says the case was quote, "...in its infant stages, and his client has the presumption of innocence." It's been one month since Israel cut off humanitarian aid from Gaza.
And aid agencies say the humanitarian situation has deteriorated dangerously for 2 million civilians.
It defies humanity.
It defies the law, and really is a war without limits.
That's Jonathan Matul, a senior U .N. official for the Occupied Palestinian Territory, speaking at a press briefing last week.
The U .N. and NGOs as well as civilians in Gaza who have spoken with CNN, say hunger is spreading, and there is less access to clean water, with fleas infesting makeshift displacement camps.
Things have gotten worse since the renewed assault by the Israeli military began in March— when the Israeli government shut down food supplies and aid into Gaza, ahead of the offensive to pressure Hamas to release more hostages.
Coming up, confusion and panic is leading to high demand for new ID cards.
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In a month, new federal rules will be coming into effect around IDs and flying.
And it's got a lot of travelers scrambling.
In the future, anyone traveling on a domestic flight will have to show a real ID if they don't have a passport—as part of a new law to improve security.
The deadline for getting one varies from state to state, though.
And many people are confused about who needs a real ID card, how to get one, and how quickly they can do it.
The TSA is urging all passengers over the age of 18 to get one by May 7 to avoid delays at airport security.
Alright, that's all for now.
I'm Krista Beau, and our next episode drops at 3 p .m. Eastern.
Till next time. I'm CNN tech reporter Claire Duffy.
This week on the podcast Terms of Service, genetic testing can teach us a lot about ourselves and help us understand the story of where we came from.
But they also come with privacy questions about where we're sending our DNA when we take these tests.
What did you learn when you got the results back?
The person that they initially thought was my biological father was not.
That's really a lot.
Definitely. Follow CNN's terms of service wherever you get your podcasts.
This week on The Assignment with me, Audie Cornish.
There are reports of at least a dozen students and faculty who have been detained by federal agents.
How does this happen?
How can the government detain legal immigrants without charges?
How is this affecting students and faculty at campuses around the country?
And who is challenging the government over potential First Amendment violations for punishing people who say things that the administration labels a threat?
Listen to The Assignment with me, Audie Cornish, streaming now on your favorite podcast app.
