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Overnight News Digest April 6, 2025 [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-04-06
Welcome to the Overnight News Digest with a crew consisting of founder Magnifico, regular editors side pocket, maggiejean, Chitown Kev, eeff, Magnifico, annetteboardman, Besame,and jck,. Alumni editors include (but not limited to) Interceptor 7, Man Oh Man (RIP), wader, Neon Vincent, palantir, Patriot Daily News Clearinghouse (RIP), ek hornbeck (RIP), rfall, ScottyUrb, Doctor RJ, JeremyBloom, BentLiberal, Oke (RIP) and jlms qkw. OND is a regular community feature on Daily Kos since 2007, consisting of news stories from around the world, sometimes coupled with a daily theme, original research or commentary. Editors of OND impart their own presentation styles and content choices, typically publishing each day near 12:00 AM Eastern Time. Please feel free to share your articles and stories in the comments.
Reuters
Stocks dive in Asia, markets hunger for rapid US rate cuts
&P 500 futures drop over 3%, Nikkei slides 6%
Futures price in extra 25bps Fed easing this year
Treasuries extend rally, safe haven yen gains
Oil dives 2% as global recession risks mount SYDNEY, April 7 (Reuters) - Major stock indexes plunged in Asia on Monday as White House officials showed no sign of backing away from their sweeping tariff plans, and investors wagered the mounting risk of recession could see U.S. interest rates cut as early as May. Futures markets moved swiftly to price in almost five quarter-point cuts in U.S. rates this year, pulling Treasury yields down sharply and hampering the dollar. The carnage came as President Donald Trump told reporters that investors would have to take their medicine and he would not do a deal with China until the U.S. trade deficit was sorted out. Beijing declared the markets had spoken on their retaliation plans.
New York Times
Trump Says Tariffs Will Stay Until Trade Deficit Disappears
President Trump said on Sunday that he would not reverse tariffs on other nations unless the trade deficits that the United States runs with China, the European Union and other nations disappeared. His comments indicated that the steep import taxes that have panicked global businesses and investors would be in place for the long run. Mr. Trump’s top advisers spent much of Sunday trying to reassure the public that the president’s plans would ultimately benefit Americans.
Reuters
Saudi Arabia cuts May oil prices to Asia to four-month low ahead of OPEC+ supply boost
Asia falls by $2.30 per barrel, biggest drop in over two years
Other grades fall by $2.30 per barrel
May prices to U.S. and Europe down by 20 and 50 cents per barrel
OPEC+ to increase output by 411,000 barrels per day in May SINGAPORE, April 6 (Reuters) - Saudi Arabia, the world's top oil exporter, on Sunday slashed crude oil prices for Asian buyers in May to their lowest in four months, following a recent shock decision by the OPEC+ oil group to speed up oil output hikes. State oil company Saudi Aramco cut the May official selling price (OSP) for flagship Arab Light crude by $2.30 to $1.20 a barrel above the average of Oman and Dubai prices, a pricing document from the producer showed.
Hindustan Times
Over 50 nations want to start trade talks with US after tariffs, Trump officials say
WASHINGTON -More than 50 nations have reached out to the White House to begin trade talks since U.S. President Donald Trump rolled out sweeping new tariffs, top officials said on Sunday as they defended levies that wiped out nearly $6 trillion in value from U.S. stocks last week and downplayed economic fallout. On Sunday morning talk shows, Trump's top economic advisers sought to portray the tariffs as a savvy repositioning of the U.S. in the global trade order. They also tried to minimize the economic fallout from last week's tumultuous rollout, ahead of Monday's expected bumpy opening of Asian stock markets. Treasury Secretary Scott Bessent said more than 50 nations had started negotiations with the U.S. since last Wednesday's announcement, putting Trump in a position of power. Neither Bessent nor the other officials named the countries or offered details about the talks.
The Guardian
Scottish wildfire forces evacuations as blaze spreads north from Galloway
Emergency services were on Sunday continuing to battle a wildfire that started in Galloway in the south of Scotland, and has spread north into East Ayrshire, forcing the evacuation of walkers and wild campers. The blaze started in the Newton Stewart area on Thursday, then spread northwards over the weekend after a change in wind direction to reach Loch Doon. Residents living nearby were advised to keep windows and doors closed and police told people to avoid the area. On Sunday evening the Scottish government held an emergency meeting to coordinate its response. Rising temperatures across the UK earlier this week led to wildfire warnings being put in place, with the Scottish fire and rescue service saying there was a “very high to extreme risk” of fires spreading because of warm, dry conditions.
AP News
2 US border inspectors are charged with taking bribes to wave in people without documents
SAN DIEGO (AP) — 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, prosecutors said. U.S. Customs and Border Protection officers Farlis Almonte and Ricardo Rodriguez were assigned to immigration inspection booths at the San Ysidro Port of Entry. They were charged after investigators found phone evidence showing they had exchanged messages with human traffickers in Mexico and discovered unexplained cash deposits into their bank accounts, according to a criminal complaint unsealed Thursday. Surveillance video showed at least one instance in which a vehicle with a driver and a passenger stopped at a checkpoint but only the driver was documented as having entered the country, prosecutors said. Prosecutors said the officers waved dozens of vehicles carrying people without documents. They said both men were paid thousands for each vehicle they waved through.
Fox Weather
AP News
Nearly half of National Weather Service offices have 20% vacancy rates, and experts say it’s a risk
WASHINGTON (AP) — After Trump administration job cuts, nearly half of National Weather Service forecast offices have 20% vacancy rates — twice that of just a decade ago — as severe weather chugs across the nation’s heartland, according to data obtained by The Associated Press. Detailed vacancy data for all 122 weather field offices show eight offices are missing more than 35% of their staff — including those in Arkansas where tornadoes and torrential rain hit this week — according to statistics crowd-sourced by more than a dozen National Weather Service employees. Experts said vacancy rates of 20% or higher amount to critical understaffing, and 55 of the 122 sites reach that level. The weather offices issue routine daily forecasts, but also urgent up-to-the-minute warnings during dangerous storm outbreaks such as the tornadoes that killed seven people this week and “catastrophic” flooding that’s continuing through the weekend. The weather service this week has logged at least 75 tornado and 1,277 severe weather preliminary reports.
NPR
Vietnam asks Trump to delay implementation of tariffs while the two sides negotiate
Here comes the extortion and grift.
Vietnam has asked the United States to delay the April 9 implementation of sky-high tariffs announced last week in a test of how much President Trump is willing to haggle over his protectionist trade agenda. Vietnamese Communist Party chief To Lam was one of the first world leaders to speak with Trump last week after the U.S. president announced a flurry of tariffs on almost every country that exports to the United States. Vietnam was hit with a 46% tariff rate, among the highest. Vietnam's economy has boomed in recent years on the back of soaring manufacturing and exports. The nation has benefited as companies have diversified supply chains in response to rising tension between Beijing and Washington in recent years. The United States is Vietnam's biggest export market.
Washington Post
NIH scientists have a cancer breakthrough. Layoffs are delaying it.
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