The Pour Over Today - Stock Market Falls, “Hands Off” Rallies, Final Four, & More | 04.07.25

Episode Date: April 7, 2025

Today we’re talking about Wall Street’s response to Trump’s latest tariffs, mass protests against Trump and Elon Musk, Hockey records set and basketball’s Final Four results, and other top news for Monday, April 7th. Stay informed while remaining focused on Christ with The Pour Over Today. Please support our TPO sponsors! Upside: https://links.thepourover.org/Upside Cru: give.cru.org/pour LMNT: https://links.thepourover.org/LMNT_Podcast Student Life Application Study Bible: https://links.thepourover.org/SLASB_Pod Stress Less: https://links.thepourover.org/StressLess Platforms to Pillars: https://links.thepourover.org/PlatformstoPillars Subsplash: subsplash.com/tpo CSB: https://links.thepourover.org/CSB_EasterGiftGuide Field of Greens: FieldofGreens.com

Today's episode is brought to you by our lead sponsor, Crew. Hey, this is Joe at the Poor Over. And this is Zan at the Poor Over. Today, we're talking about Wall Street's response to Trump's latest tariffs, mass protests against Trump and Elon Musk, hockey record set and basketball's final four results, and other top news for Monday, April 7th. Stay informed while remaining focused on Christ with the pour-over today.

Here's your verse of the day. This is how we know what love is. Jesus Christ laid down his life for us, and we ought to lay down our lives for our brothers and sisters. First John 3.16. Let's get started with some espresso shots. Wall Street got mauled last week.

President Trump's fresh batch of tariffs and China's announcement of a 34% retaliatory tariff on all U.S. products spooked investors. The Nasdaq slipped into bear territory Thursday, meaning it's down 20% from its peak. The S&P 500 posted its worst week since 2020, and the Dow fell more than 1,500 points on two consecutive days for the first time ever. In total, over $6 trillion in value was lost. Fed Chairman Powell said the tariff's economic impacts will likely be quote, significantly larger than expected and cause at least a temporary rise in inflation, end quote.

For now, the Fed is maintaining its wait-and-see approach on interest rates. Trump urged Powell to quote, unquote, stop playing politics and cut rates immediately. Meanwhile, the U.S. added a better than expected 228,000 jobs in March, and unemployment ticked up to 4.2% from 4.1%. No matter what happens to the economy, God will remain in control. In the midst of uncertainty on earth, set your hope on the abundance we will enjoy with Christ when he comes. First Peter 1, 3-4 says,

Blessed be the God and Father of our Lord Jesus Christ. Because of his great mercy, he has given us new birth into a living hope through the resurrection of Jesus Christ from the dead and into an inheritance that is imperishable, undefiled, and unfading, kept in heaven for you. Saturday saw mass protests against President Trump and Elon Musk. Organizers say millions attended at least 1,300 protests held across every state. The rallies were part of the Hands Off movement, a quote, nationwide mobilization against the quote, brazen power grab of Trump's second term policies and Musk's government involvement. Sign-laden demonstrators voiced opposition to things like Doja's job cuts, the White House's immigration crackdown, and federal program funding cuts. Republicans have largely applauded those efforts, which are continuing at a rapid pace.

Last week, the Trump administration threatened federal funding for Harvard and Brown universities over allegations of anti-Semitism and cut more federal jobs. The IRS began laying off 25% of its 100,000-person workforce, and President Trump fired the top two officials at the National Security Agency. We represent Christ well when we are not only kind to people we agree with, but also to

people we believe are wrong, going out of our way to serve and care for them. This is what it means to quote, love your enemies. Matthew 5, 44-45 says, But I tell you, love your enemies and pray for those who persecute you, so that you may be children of your father in heaven. Celebrations rang out from the ice to the hardwood over the weekend. Hockey history was made yesterday when Washington Capitals star Alex Ovechkin chased down Wayne Greske's 31-year-old record to become the NHL's all-time leading scorer.

Ovechkin snagged his record-setting 895th goal on a power play against the New York Islanders, with Gretzky in attendance cheering him on. Hours later, UConn returned to the top of the women's hoops hierarchy, knocking off defending champs South Carolina 82-59, and securing the NCAA women's basketball title for a record 12th time. Eager to hoist their own trophy are the Florida Gators, who beat Auburn 79-73 in the Final Four, and Houston Cougars, who clawed past Duke 70-67. They'll go head to head tonight to claim the men's title.

Sports can teach us a lot about everyday life, the value of teamwork, perseverance, and even loyalty as a fan. The commitment of athletes to their sport encourages us to press on as we seek to win an imperishable crown at the end of our faith journey. And the joy of fans for their team can give us a foretaste of the greatest celebration in history. 1 Corinthians 9, 25 says,

Now everyone who competes exercises self-control in everything. They do it to receive a perishable crown, but we, an imperishable crown. With over 1,000 translations and every type of decorative edition, it's easy to forget how many people can't even get their hands on a single copy of the Bible in their native language.

That's why we've partnered with Crew. Crew is missionaries in almost every country, but they need more Bibles. One missionary said, I've never seen such a thirst for the word of God in my country. Let's quench that thirst. For just $24 a month,

you can provide three people with Bibles every month. As a bonus, Cru will provide meals to 12 hungry individuals through their humanitarian ministry and send you a free TPO coffee mug. Simply text POUR to 71326 or visit give.crew.org slash POUR. Again, that's texting P-O-U-R to 71326

or give.cru.org slash POUR. Message and data rates may apply. Available to U.S. addresses only. In other brews, here's a rapid round of updates. The Senate burned the midnight oil Friday into Saturday. In a 51-48 vote, the Republican-led Senate approved a revised framework for a sweeping budget plan covering critical aspects of President Trump's domestic agenda, like defense, energy, immigration, and tax policy. Senate Majority Leader Thune, a Republican from South Dakota, says it's the first step

towards making 2017-era tax cuts permanent and boosting border and energy security. Nintendo is switching things up. The company officially revealed the Nintendo Switch 2, a new and improved version of the 2017 original. It's set to release June 5th, though U.S.-based pre-orders have been delayed indefinitely to quote, assess the potential impact of tariffs, end quote. Switch 2 has big shoes to fill. The original Switch is Nintendo's second best-selling console, trailing only the DS.

TikTok's timer got reset. After President Trump announced new global tariffs, including an additional 34% tariff on China, Beijing reportedly blocked a nearing deal. ByteDance told the White House that China won't approve a sale until trade negotiations happen. On Friday, Trump gave the parent company another 75 days until June 19th to broker a deal to bring TikTok under American ownership. South Korea's president is officially, officially out. The Constitutional Court unanimously upheld the impeachment of Yun Suk-yol, who was suspended

in December after his failed attempt to impose martial law. Friday's ruling sparked celebrations from Yun's critics and tears from supporters across Seoul. A snap election to replace him will happen by June 3rd. Flooding continues to swamp the south and midwest. After days of heavy rain, communities from Texas to Ohio have scrambled to deploy sandbags, close roads, and shut off power and gas as the region faces historic flooding. At least 18 people have died since the slow-moving weather system, which spawned 90 tornadoes

across 10 states, began last Wednesday. That's all we have for today. Thanks so much for listening, TPO fam. to 90 tornadoes across 10 states began last Wednesday. That's all we have for today. Thanks so much for listening, TPO fam. If you're listening on the Apple Podcasts app, give us a five-star rating and drop a review. If you're listening on Spotify, give us a follow and hit the notification bell to never miss a new episode. We're grateful for your support.

See you on Wednesday. never miss a new episode. We're grateful for your support. See you on Wednesday. Are you feeling stressed? You're definitely not alone. Over a quarter of US adults say they're so stressed they can't function. Stress Less is a new book by pastor

and brain science researcher, Charles Stone. It blends biblical truth and neuroscience to offer nine practical, hope-filled ways to navigate stress with wisdom and grace. Grab it at the link in the show notes.