Today’s Forbes Daily newsletter covers Wall Street souring on Trump, the biggest billionaire tariff losers, DOGE cuts worsen March layoffs and more.

The U.S. and global markets have already started to feel the impact of Trump’s tariffs, with the U.S. stock market taking the worst hit thus far. The Wall Street slump and global dip in stocks have sparked fresh fears in economists and concerns as to whether the U.S. is heading into a recession.

Chinese state media took to social media to post short movies and songs generated with AI in reaction to Trump's tariffs.

Global markets plummeted Thursday after Trump announced his sweeping tariffs.S&P 500 futures fell 3%, signaling the benchmark index's nearly 5% first-quarter drop will continue.Gold briefly touched a new high,

Liberation Day,” the ball is in the court of other countries to respond to President Donald Trump’s tariffs. The statement by European Commission President Ursula von der Leyen encapsulated [the mixed