A federal judge further blocked the Trump administration from sharply cutting jobs and reorganizing the structure of many major federal agencies as part of its so-called DOGE effort under billionaire Elon Musk.
The order issued late Thursday granted a preliminary injunction that pauses further reductions in force and “reorganization of the executive branch for the duration of the lawsuit.”
The Trump administration on Friday morning appealed the decision to the 9th U.S. Circuit Court of Appeals, and is expected to ask that court to block the injunction from taking effect.
“But Congress creates federal agencies, funds them, and gives them duties that — by statute — they must carry out,” Illston wrote.
“Agencies may not conduct large-scale reorganizations and reductions in force in blatant disregard of Congress’s mandates, and a President may not initiate large-scale executive branch reorganization without partnering with Congress.”
Illston’s injunction was issued in response to a lawsuit challenging the effects of a Feb. 11 executive order signed by President Donald Trump, which said it “commences a critical transformation of the Federal bureaucracy.” The order directed heads of federal agencies to prepare for large-scale reductions in force.
The suit was filed by a group of unions representing federal workers, as well as advocacy groups, and several cities, states and counties.
The Trump administration has already requested that the Supreme Court issue an emergency pause of Illston’s initial temporary restraining order blocking its reorganization efforts.
“That far-reaching order bars almost the entire Executive Branch from formulating and implementing plans to reduce the size of the federal workforce, and requires disclosure of sensitive and deliberative agency documents that are presumptively protected by executive privilege,” wrote U.S. Solicitor General John Sauer in the May 16 application to the high court.
“Neither Congress nor the Executive Branch has ever intended to make federal bureaucrats ‘a class with lifetime employment, whether there was work for them to do or not,’” Sauer wrote. “This Court should stay the district court’s order.”
The mass firing of federal employees has been a pillar of Trump’s domestic policy in the early months of his second term.
A U.S. airstrike in Yemen on Monday appears to havekilled at least three dozen people in a Houthi-run compound that human rights researchers say has been used for years as a detention center and at times for military purposes, according to images of the aftermath reviewed by The Washington Post.
Houthi rebels say at least 68 people were killed and dozens more were injured in what they said was a U.S. strike on a prison holding African migrants. The Post’s analysis of visuals found at least 38 people who appeared to be dead and 32 injured, numbers that are almost certainly an undercount given the limited available imagery.
It is not clear from the videos who among the dead are civilians; no military equipment or garb is visible in any visuals reviewed by The Post. Visuals could be located from only one of the two buildings that were destroyed in the attack.
The Houthis have targeted American military forces in the Red Sea, as well as commercial vessels and Israeli military sites to protest the ongoing war in Gaza, which has killed many thousands of civilians. In mid-March, the Trump campaign launched “Operation Rough Rider,” targeting Houthi rebel leadership and infrastructure.
Central Command, which oversees U.S. operations in the Middle East, has not said what it was targeting in the recentstrike but is “aware of the claims of civilian casualties”and is assessingthem, a defense official has said. The U.S. military has said its Yemen operations are executed with “detailed and comprehensive intelligence” to minimize risk to civilians.
The current functions of the compound in northwest Yemen could not be independently determined. The United Nations has described it as having once included a military barracks and more recently as a migrant detention center. One human rights researcher told The Post that it ceased serving military purposes a decade ago, while another said it is used by the Houthis for other purposes and “the migrants are only a front.”
Analysts and current and former U.S. officials said the strike appears to add to mounting evidence that the Trump administration has not prioritized minimizingcivilian casualties in its ongoing air campaign against the Houthis. The Defense Department is moving to dismantle efforts focused on reducing civilian harm in U.S. military operations, The Post has reported, so commanders can focus more on “lethality”when conducting military strikes.
“This strike in particular and the campaign in Yemen in general clearly show a higher tolerance for civilian casualties than previously seen in Yemen and even in the wars against ISIS,” a U.S. official familiar with the campaign said, speaking on the condition of anonymity to discuss ongoing operations. The same official confirmed that Monday’s strike was carried out by the United States.
The videos provide a graphic view of the carnage. “I’m dying now,” one man tells the person filming the video, his body pinned between two slabs of concrete. Dozens of people are crushed by debris, their limbs protruding from the dust. Some are dismembered in the blast. Other remains are likely buried or in parts of the building not visible in the imagery.
Emergency workers sift through the debris, looking for survivors among scattered mattresses, clothes and plastic bowls. The videos and photos were released either by Houthi-owned channels or journalists subject to strict Houthi oversight.
Satellite imagery taken after the strike in the southwest outskirts of the city of Saada shows two large buildings destroyed inside a walled compound occupying about 50 acres, known as Saada City Remand Prison. Both buildings are similar in design and about 120 feet long and just over 500 feet apart, separated by a road.
Other buildings in the same compound were struck in January 2022 by Saudi forces, killing at least 91 detainees and wounding at least 236, according to the U.N. human rights office. At the time, the compound held 1,300 pre-trial detainees and 700 migrants, the U.N. said. It was one of the deadliest strikes of a years-long Saudi-led campaign against the Houthis, which received substantial U.S. assistance.
After the 2022 attack, a Saudi military spokesman said the site was a legitimate target because it was used by the Houthis for military purposes.
Houthi militants used the detention center in northwestern Yemen for military purposes up until 2015 or 2016, when it was converted to a prison, said a Yemen human rights researcher who spoke on the condition of anonymity for fear of retribution.The other Yemen-based researcher, Adnan Al-Gabarni, called the compound an important site and said much is unknown about it.
Representatives from the International Committee for the Red Cross have conducted regular visits to the prison complex since 2018; they declined to comment on the internal conditions of the facility. Visiting the site after the Saudi strike, U.N. human rights representatives said in a report that they saw no signs the compound had a military function.
The Saudi bombing had “catastrophic results for vulnerable migrants being detained by the Houthis,” said Christopher Le Mon, former deputy assistant secretary of state for democracy, human rights and labor in the Biden administration. Speaking about the U.S. military, he said, “It’s just inconceivable that the military wouldn’t have anticipated a serious risk of civilian casualties.”
An ICRC delegation visited the site on Monday following the strike. The ICRC said teams from the Yemen Red Crescent Society had evacuated wounded migrants to two hospitals nearby.
Travelers from African countries have transited through the desert corridor for decades, according to a 2023 Human Rights Watch report, which estimated that more than 90 percent of those en route to Saudi Arabia come from Ethiopia. They have been routinely detained by Houthi forces, who are under increasing pressure from Saudi authorities to stop illegal migration, and often subjected to torture and abuse while detained at centers like the one in Saada, according to the rights monitor.
“African migrants locked up in a prison in northern Yemen are not a lawful military objective,” said Brian Finucane, a former legal adviser at the State Department, noting that the U.S. military has not publicly identified what its target was or whether it was a mistake.
The number of civilians killed in Yemen has exponentially increased in the weeks since the campaign began. According to Airwars, a Britain-based watchdog organization, U.S. strikes were estimated to have killed 27 to 56 Yemeni civilians in March. The nonprofit Yemen Data Project estimates that at least 97 strikes in March killed 28 people and wounded 66. The casualty toll in April to date is believed to be much higher.
The Houthis said more than 70 people were killed by an airstrike on a Houthi-controlled oil port on April 18.
After Monday’s strike, video released by the Houthi-owned al-Masirah television channel showed remnants of munitions and what appeared to be at least two craters where the building once stood. The visual evidence indicates multiple U.S.-manufactured GBU-39s were dropped, said Trevor Ball, a former Army explosive ordnance disposal technician. The guided munitions are designed to be capable of reducing risk to civilians with precision targeting and a relatively small size.
Photo from the scene of the strike published by Yemen’s Mine Action Program, YEMAC, shows fragments of U.S.-made GBU-39 bombs, according to weapons expert Trevor Ball. At least two fuze wells indicate at least two munitions were used.
There are no clear signs in the images that the damaged building had any military use, Ball said. The foundation is basic concrete, and the inside appeared to be sleeping quarters.
Pentagon spokesman Sean Parnell said Tuesday the U.S. has struck 1,000 targets, or about 23 per day, since March 15. That pace has raised questions among some experts about whether commanders and analysts can properly assess targets.
“They’ve had some questionable strikes already, and with the operation tempo, chance of mistakes and shortcuts are just going to increase,” Ball said.
Democratic lawmakers last week said they were alarmed by what they called an apparent “serious disregard” for innocent life following reports of deaths in other strikes.
The White House is coming down on Amazon over a Tuesday report from Punchbowl News that claimed the world’s largest online retailer will start showing how much Trump’s tariffs affect the price of each product. Amazon, however, says the report was inaccurate and “never a consideration for the main Amazon site.”
The Punchbowl report said Amazon planned to show the impact of tariffs “right next to the product’s total listed price,” according to a person familiar with the plans.
White House press secretary Karoline Leavitt erupted at Amazon over the report on Tuesday morning, calling it a “hostile and political act.”
But Amazon spokesperson Ty Rogers told Fortune on Tuesday morning that the company has only considered such a move, and that it would apply only to a new Temu-like section of the Amazon Haul shopping site that just launched six months ago—if implemented at all.
“The team that runs our ultra low cost Amazon Haul store has considered the idea of listing import charges on certain products,” Rogers said in the statement. “Teams discuss ideas all the time. This was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties.”
The company then followed up with a new, more definitive statement from a separate spokesperson, Tim Doyle, making clear the idea “was never approved and is not going to happen.”
Previously, Amazon spokesperson Ty Rogers hadclarified that if implemented, the move would be a reaction to the end of a longstanding trade loophole known as de minimis—which allows overseas companies to ship merchandise under $800 to U.S. customers without having to pay duties—and not explicitly to the Trump administration’s reciprocal tariffs. President Trump has signed an executive order that would ban the duty-free de minimis exception for goods from China and Hong Kong beginning May 2. In response, ultra-discounter Temu, which relies on de minimis to keep prices dirt-cheap, has begun listing “import fees” at checkout to help explain skyrocketing prices on its apps. Amazon had said the move under consideration would be a similar one.
But the White House press secretary was asked about the report prior to Amazon’s clarification.
“Why didn’t Amazon do this when the Biden administration hiked inflation to the highest level in 40 years?” Leavitt asked. “This is another reason why Americans should buy American.”
To be clear, the inflation Leavitt is referencing, which peaked during the Biden administration, was largely organic. An array of global and domestic factors played into inflation, from disruptions in the supply chain caused by the COVID-19 pandemic to the heightened consumer demand since everyone was locked down and forced to stay home. That time was also marked by labor shortages and a big spike in energy prices from Russia’s invasion of Ukraine in early 2022. In contrast, Trump’s tariffs—particularly on Chinese goods—were a conscious and targeted policy decision, the cost of his political strategy.
White House press secretary Karoline Leavitt, joined by Treasury Secretary Scott Bessent, holds a news article on Amazon CEO Jeff Bezos as she speaks during the daily press briefing on April 29, 2025, in Washington, D.C. (ANDREW HARNIK—GETTY IMAGES)
Before the press briefing, Leavitt said she had “just got off the phone with the president about Amazon’s announcement.”
Like many other retailers, especially those advertising discount prices like Shein or Temu, Amazon is particularly vulnerable to Trump’s proposed reciprocal tariffs on imports. Amazon sells millions of items across myriad product categories, from clothes to toys to electronics and more. Many of those products are manufactured in China, and Trump has imposed a 145% tariff on imports from the country, which is the world’s second-largest economy. Amazon’s third-party sellers are equally exposed.
The bombing of a federal building in Oklahoma City, on April 19, 1995, remains the deadliest domestic terror attack in U.S. history.(Jim Argo/USA Today Network)
Thirty years ago on April 19, 168 people were killed and hundreds more suffered injuries in the Oklahoma City bombing — still the deadliest homegrown terrorist attack in the history of the United States.
Their stories are preserved and honored by the Oklahoma City National Memorial and Museum, which pays homage to the victims by commemorating their lives and legacies while centering its mission around educational initiatives against violence.
“The memorial museum was created to remember and teach the brutality of the attack and the tenderness of the response. It’s about teaching the story of the senselessness of violence,” said Kari Watkins, the CEO of the museum. “We average about half a million visitors a year, and we work to teach those people to meet the people who were impacted, those who were killed, those who survived and those changed forever. It helps us keep this story relevant and alive.”
Visitors look at the faces of the victims of the 1995 Oklahoma City bombing at the Oklahoma City National Memorial and Museum on June 11, 2001.(JOE RAEDLE / GETTY IMAGES)
The 1995 attack targeted a federal building, and most of the people killed worked for the U.S. government. Lucio Aleman, Jr., a safety engineer with the Federal Highway Administration and father of two, was 33 when he died in the bombing. His biography appears on the memorial museum’s website alongside the other victims.
Beside Aleman’s photograph is one of Teresa Alexander, also 33, who had three children and worked multiple full-time jobs, including as a nurse’s assistant, a role in which those who knew her said she “enjoyed doing the little extras for patients.” Alexander was visiting the building to pick up her son’s Social Security card when it was bombed, according to the museum.
Scrolling farther down the webpage reveals a sea of names and faces, some belonging to toddlers and infants. At just 3 months old, Gabreon DeShawn Lee Bruce was the youngest victim. His sister, 3-year-old Peachlyn Bradley, and his grandmother, Cheryl E. Hammon, were both killed in the bombing, too.
Chairs for each victim in the Oklahoma City bombing were decorated before the Oklahoma City Memorial and Museum marked 21 years after the terrorist attack on April 19, 2016.(J PAT CARTER / GETTY IMAGES)
As survivors and families who lost loved ones look back on what the memorial museum refers to as “a day of darkness” three decades on, here’s what to know about the attack.
When was the Oklahoma City bombing and what happened?
The bombing happened on April 19, 1995, at the Alfred P. Murrah Federal Building in Oklahoma City. Nineteen children, most of whom were at a day care center in the building, were among the 168 people killed in the attack. More than 600 people suffered injuries that included severe burns and other physical traumas caused by the explosion itself or the structure’s subsequent collapse. Search and rescue operations continued for more than a week after the blast, as crews located and retrieved survivors trapped beneath the debris.
A former Army soldier, Timothy McVeigh, detonated the bomb. Federal agents who investigated the tragedy determined that McVeigh acted alone on the day of the explosion, but a friend of his, Terry Nichols, helped build the bomb and another man, Michael Fortier, knew of the plot before it was carried out. Nichols and Fortier were ultimately convicted as co-conspirators in the crime.
At 9:02 a.m. local time on the morning of the bombing, McVeigh parked a rented Ryder truck in front of the federal building in downtown Oklahoma City. At the time, the building housed regional government offices for 17 federal agencies, like the Social Security Administration, the Department of Housing and Urban Development, and the Drug Enforcement Administration, in addition to the America’s Kids Child Development Center, a snack bar and a Federal Employees Credit Union, according to the memorial museum.
On the day of the attack, 361 workers and visitors were inside, including 21 children in the America’s Kids day care center. Ninety-eight of the victims were federal government workers, and another three were employed by the state of Oklahoma.
Inside McVeigh’s rental truck was a powerful homemade bomb, made using a mix of fertilizer, diesel fuel and other chemicals, the Federal Bureau of Investigation said. He exited the vehicle that morning, locked the doors and, while heading toward a getaway car, ignited two timed fuses that set off the explosion.
About one-third of the Alfred Murrah building was reduced to rubble within moments, and authorities say 300 nearby buildings were either damaged or destroyed in the blast.
The north side of the Albert P. Murrah Federal Building in Oklahoma City on April 19, 1995, shows the devastation caused by a terrorist bombing. (BOB DAEMMRICH/AFP VIA GETTY IMAGES)
McVeigh was arrested roughly 90 minutes after fleeing the scene, during a traffic stop about 80 miles north of Oklahoma City. A state trooper initially flagged his car’s missing license plate and, later, the concealed weapon inside his vehicle. Agents went on to discover traces of the chemicals used to create the bomb on McVeigh’s clothing and some other items in his possession.
Who was Timothy McVeigh?
A U.S. Army veteran and security guard prior to the Oklahoma City attack, McVeigh was 27 at the time of the bombing. He was convicted in 1997 on numerous federal charges for his role, including conspiracy, using a weapon of mass destruction and multiple counts of first-degree murder. McVeigh was executed by lethal injection in 2001, becoming the first federal inmate to receive the death penalty in almost 40 years.
Authorities found McVeigh was motivated by strong anti-government sentiment, mainly rooted in the U.S. involvement in the Gulf War, where he previously had been stationed as a soldier, along with then-recent standoffs between federal agents and civilians during clashes in Ruby Ridge, Idaho, and Waco, Texas.
McVeigh’s radicalization ultimately pushed him to the extreme: discovered inside his getaway car on April 19, 1995, was a copy of “The Turner Diaries,” a white supremacist novel authored by neo-Nazi leader William Luther Pierce, which has been called “the bible of the racist right” and considered an inspiration for the Oklahoma City bombing and other acts of domestic terror.
What is the connection to the Waco siege?
McVeigh’s hostility toward the government intensified after the 1992 Ruby Ridge killings and the Waco siege eight months later, where civilians died in standoffs with officers. In Waco, the 51-day siege ended April 19, 1993, exactly two years before the Oklahoma City bombing, with dozens of members of the Branch Davidian religious sect perishing in a fire. Some blamed federal authorities for their deaths, and the outcome of that standoff became a call to arms for far-right extremist and anti-government groups.
According to the FBI, McVeigh had visited Waco during the clash at the Texas compound, and, citing the incident as motivation for the bombing, later said he believed the government had declared war on the American people. He saw himself as a revolutionary and considered the Oklahoma City bombing part of that misguided revolution.
“If government is the teacher, violence would be an acceptable option,” he told CBS News correspondent Ed Bradley in a “60 Minutes” interview in 2000, when asked whether using violence against the government was acceptable or not.
Is there a connection to the Columbine shooting?
On April 20, 1999, teenagers Dylan Klebold and Eric Harris killed 12 of their fellow students and one teacher in a shooting at Columbine High School in Littleton, Colorado.
The massacre, which marked the beginning of a rise in mass shootings at U.S. schools, also involved an attempted bombing. According to investigators, the two teenage gunmen, both of whom died by suicide, had constructed and planted homemade explosives that failed to detonate.
Harris referenced the Oklahoma City bombing in his personal writings while planning the attack. In one passage, which the Jefferson County Sheriff’s Office in Colorado released years after the shooting, the teenager wrote that the event would “be like the LA riots, the oklahoma bombing (sic), WWII, vietnam (sic), duke and doom all mixed together,” with “duke and doom” apparently referring to graphic video games in the mid-90s.
Harris’ writings suggested he intended the Columbine attack to be much larger than it was, according to Dave Cullen, journalist and author of “Columbine” who spent years researching the shooters. He “would brag about topping McVeigh,” Cullen wrote.
Elaine Wynn | Grand Dame of Vegas. the las vegas book
Elaine Wynn, who built a glamorous casino-and-resort empire with her former husband, Steve Wynn, transforming Las Vegas into a global destination, and who went on to become a powerful education advocate, arts patron and Democratic fund-raiser, died on Monday at her home in Los Angeles. She was 82.
The cause was heart failure, her daughter Gillian Wynn said.
By the time the Wynns arrived in Las Vegas in 1967, it had lost its Rat Pack sheen and was primed for a reset. The couple were newlyweds with a new baby, but they already knew a thing or two about the gambling business.
A few years earlier, Mr. Wynn had been on his way to Yale Law School when his father, who owned a string of bingo parlors in Maryland — and had a serious gambling habit — died suddenly, leaving his eldest son with the business and a load of debt. The couple worked the bingo parlors together, paid off the debt and then moved to the desert, where Mr. Wynn had been offered a tiny stake in a hotel on the Las Vegas Strip.
Within a decade — and with a few real estate deals under his belt, including buying a vacant lot from Howard Hughes, the agoraphobic billionaire — Mr. Wynn had taken over the Golden Nugget, a down-at-the-heels casino, and begun gussying it up. Soon, he was crafting an empire, helped early on by Michael Milken, the disgraced junk-bond king.
The Wynns then began to remake the Strip with their capstone property, the Mirage. They envisioned it as a luxurious resort — something much more than a casino. When it opened in 1989, with more than 3,000 rooms on 65 acres, it was among the largest and most expensive resorts in the world, built for $630 million (close to $1.7 billion in today’s money).
The theme was tropical. The lobby had an aquarium wall. Out front, a volcano in a lagoon erupted every night. There were also exotic animals — in a dolphin habitat and research center, as well as a four-acre jungle habitat for big cats (and, at one point, an elephant), otherwise known as Siegfried and Roy’s Secret Garden, after the resort’s flamboyant headliners.
The Mirage Hotel and Casino in Las Vegas in 1991. The Wynns’ capstone property there, it opened in 1989 with more than 3,000 rooms on 65 acres, making it one of the largest and most expensive resorts in the world, built for the equivalent of almost $1.7 billion in today’s money.Credit…Joe Sohm/Visions of America — Universal Images Group, via Getty Images
Ms. Wynn was the aesthetic partner in the venture, overseeing the architecture, the interiors and the employee uniforms. She was the one who argued to set the resort back from the sidewalk, to give it a gracious entrance and show off its distinctive Y-shaped design, which would later be much mimicked by other casino owners.
“Don’t Reno-ize the strip,” she told Mr. Wynn.
And when her husband wanted to put a dolphin habitat behind their house, it was Ms. Wynn who persuaded him to move that idea to the Mirage.
At a time when the wives of powerful men were decorative adjuncts, Ms. Wynn was “an equal partner in the success of Wynn Resorts,” said Mary Boies, a lawyer at Boies Schiller Flexner and a longtime friend (with her lawyer husband, David Boies). “Steve was the money, and Elaine did the design and the people.”
Ms. Boies added: “She set the template for all that followed in Las Vegas. Neither would have worked without the other.”
The Wynns went on to build a portfolio of ever more elaborate resorts, including the Bellagio, with its collection of blue-chip art; the Wynn Macau, in China; and Encore Las Vegas. But their relationship was challenging — in ways that would not become public until much later.
Mr. Wynn was charismatic, mercurial and even visionary, despite a degenerative eye disease. Ms. Wynn was the steadying force. The couple divorced in 1986, during the building of the Mirage, but continued to live and work together.
“A lot of marriages reach that critical point when the man wants the wife to stay the same as when he first met her, to be the nurturer, supporter, cheerleader,” Ms. Wynn told GQ magazine in 1990. “There has to be a shift if that relationship is to survive.”
They remarried a year later.
The Wynns in 2008. “Did I create an environment that allowed him to thrive?” Ms. Wynn mused about her husband in 2012. “That’s what I’d say I hope my contribution is.”Credit…Getty Images
In 1993, the Wynns’ daughter Kevyn, then 26, was kidnapped from her home in Las Vegas. Mr. Wynn paid a $1.4 million ransom for her release, and she was found bound in her car in a parking garage but otherwise unharmed.
He did not alert the police or his wife when the kidnapper phoned him, fearful for his daughter’s safety. He waited until she was safe and in his arms, and then phoned Ms. Wynn.
“I think the height of my admiration and respect and love for Steve centers on that episode,” Ms. Wynn told The New York Times Magazine in 2012. “I never, ever questioned that he did the right thing. He spared me.” (The kidnapper was later arrested in Newport Beach, Calif., buying a Ferrari with $100 bills.)
When Mr. Wynn, in a notorious incident in 2006, stuck his elbow through the canvas of “Le Rêve,” Picasso’s 1932 painting of his mistress Marie-Thérèse Walter, it was Ms. Wynn who calmed him. He was in his office showing off the painting to Barbara Walters, the Boieses, the author Nick Pileggi and his wife, Nora Ephron, and others, when it happened. Mr. Wynn had bought the painting with Steven Cohen, the hedge-fund manager, for $139 million, the highest price ever paid for an artwork at the time.
“I can’t believe I did that, but thank God it was me!” Mr. Pileggi recalled him saying before calling Ms. Wynn. Mr. Pileggi was close enough to hear her soothing tones.
“I thought,” he said in an interview, “‘Wow, this is some relationship.’ Elaine did not enter the frenzy. That’s the kind of person she was. Nora adored her.”
“Did I create an environment that allowed him to thrive?” Ms. Wynn mused in 2012. “Did I create an anchoring to the personality that made us have good equilibrium? That’s what I’d say I hope my contribution is.”
Ms. Wynn at the The Smith Center for the Performing Arts in 2024. After she and her husband divorced, she turned her focus to supporting the arts and education.Credit…Cody Cobb for The New York Times
By 2010, the Wynns had divorced again, this time permanently, splitting their shares in the company, which amounted to a controlling stake of 36 percent, then valued $1.4 billion. Ms. Wynn remained on the board but stepped down as director of Wynn Resorts, and out of the shadow of her husband.
She turned her focus to supporting the arts and education, as national chairwoman and a trustee of Communities in Schools, an organization that works to lower dropout rates. She also served on the Nevada State Board of Education.
Ms. Wynn was an early contributor to President Barack Obama’s first presidential campaign, and he appointed her to the Kennedy Center’s board, where she served until the first Trump administration. The Obamas remained friends, as the former president and Ms. Wynn shared a passion — in Ms. Wynn’s case, a fierce passion — for college basketball. (She was a Duke fan.)
In 2016, she provided a $50 million donation to kick-start the Los Angeles County Museum of Art’s $650 million expansion, designed by the architect Peter Zumthor. She also helped fund the installation of the land artist Michael Heizer’s “Levitated Mass” on the museum’s campus, as well as his monumental work in the Nevada desert, “City,” as it neared completion after many decades.
She began to buy art, besting her former husband with her 2013 purchase of the Francis Bacon triptych “Three Studies of Lucian Freud,” which she won at auction with a bid of $142.4 million, after commission, beating Mr. Wynn’s record of paying the highest price for an artwork.
“First I was worried I’d want to buy it,” she told Forbes magazine in 2016, recalling when she first saw the triptych. “Then I was worried I might not get it.”
“Three Studies of Lucian Freud,” by Francis Bacon. Ms. Wynn won the artwork at auction with a bid of $142.4 million, beating her husband’s record of paying the highest price for a piece of art.Credit…Estate of Francis Bacon/Artists Rights Society (ARS), New York/DACS, London
Elaine Farrell Pascal was born on April 28, 1942, in New York City, one of three children of Lee (Stollman) Pascal and Jules Pascal. She grew up in Miami Beach, where her father ran package tours. A Lauren Bacall beauty by 16, she was named Miss Miami Beach in 1960.
When she was a freshman at the University of California, Los Angeles, she and Steve were set up on a blind date by their parents — the date was dinner, with their parents, at the Miami Jai-Alai Fronton, now the Casino Miami. The Pascals and the Wynns had abutting poolside cabanas at the Fontainebleau Hotel, and the husbands were gin rummy buddies.
It was an instant match, by all accounts.
They married in 1963 and settled in Maryland to oversee Mr. Wynn’s bingo parlors. Ms. Wynn transferred to the George Washington University, graduating with a bachelor’s degree in 1964.
In addition to her daughters, Ms. Wynn is survived by seven grandchildren and a brother, Joel Pascal.
Ms. Wynn recalled the energy of Las Vegas when she first arrived, the zest of a place on the make, and the loose community of headliners and showgirls there, as she told Cathy Horyn of The Times in 2006. And yet, she added: “I felt threatened by Las Vegas. It seemed very fast for a middle-class Jewish girl.”
When the Wynns divorced for the second time in 2010 and split their shares in the company, Ms. Wynn agreed to vote her shares with her husband, so he could maintain control of the board. But after a few years she was forced off the board and had to sue to regain her shares.
Then, in 2018, The Wall Street Journal reported repeated allegations of sexual harassment by Mr. Wynn from multiple employees, including a manicurist who received a $7.5 million settlement after claiming he had forced her to have sex with him. Mr. Wynn, who denied the allegations, resigned as chief executive, leaving his wife as the company’s largest shareholder.
“I could just quietly sell my shares and go off into the sunset and pursue philanthropy,” Ms. Wynn told James B. Stewart of The Times that year. “But my mantra is, it’s not where you start in life, it’s where you end up. And I’m not about to go off and leave this company that I helped build, as tarnished as it has become.”
At her death, Forbes magazine estimated her net worth at $2 billion, and Wynn Resorts had market cap of about $7.9 billion.
For years, Ms. Wynn and Michael Govan, the director of the Los Angeles County Museum of Art, had been discussing building an art museum in Las Vegas. It would be the city’s first. Last year, she told him, “It’s time.”
The museum, in partnership with LACMA, will be built in the city’s new arts district, Symphony Park, and designed by Francis Kéré, a Pritzker-Prize winning architect from Burkina Faso.
“My days are numbered,” Ms. Wynn told Robin Pogrebin of The Times in September. “I thought, What’s my final gift? I want to leave an imprint other than my name on a hotel casino.”
The White House is planning toask Congress to claw back more than $1 billion slated for public broadcasting in the United States, according to two people briefed on the plan, a move that could ultimately eliminate almost all federal support for NPR and PBS.
The plan is to request that Congress rescind $1.1 billion in federal funding for the Corporation for Public Broadcasting, the taxpayer-backed company that funds public media organizations across the United States, one of the people said. If Congress agrees, that will amount to about two years of the organization’s funding, nearly all of which goes to public broadcasters including NPR, PBS and their local member stations. The Trump administration isn’t planning to ask Congress to claw back about $100 million allocated for emergency communications.
Government money accounts for a small part of the budgets at NPR and PBS, which also generate revenue through sponsorships and donations. Most of the government funding goes to local stations, which rely on it to finance their newsrooms and pay for programming.
The proposal would be part of a broader rescission package, a formal request to Congress to rescind previously approved funds, that would also eliminate billions allocated to foreign aid, the two people said. The process is established under law, which gives the House and Senate 45 days to vote to approve the request after it is submitted. The White House plans to submit this rescission request in the coming weeks, the people said. If Congress does not approve the rescission request, the money must be spent as originally intended.
The Trump administration’s proposal to defund public broadcasting comes amid sustained pressure on NPR and PBS from Republicans in Congress, who have intensified long-running attacks on the broadcasters. The chief executives of both organizations testified before Congress last month in a fiery hearing that played out along mostly partisan lines: Republicans assailed the executives for what they saw as liberal bias, and Democrats argued that the proceeding was a waste of time.
The ask would also be the latest move by the Trump administration to exert pressure on media organizations. The administration is waging a legal battle with The Associated Press over its decision to exclude the wire service from the presidential press pool, breaking decades of precedent. Mr. Trump is also personally suing CBS News and The Des Moines Register, and the Federal Communications Commission has launched investigations into Comcast, PBS and NPR.
Spokespeople for the Corporation for Public Broadcasting, PBS and NPR declined to comment.
The Corporation for Public Broadcasting is “forward-funded” two years to insulate it from political maneuvering, and a sizable chunk of the money for 2025 has already been paid out to public broadcasters in the United States, according to a person familiar with the matter.
Public media executives have been planning for the possibility of having public funding clawed back for months. According to a document prepared by station directors this past fall, the immediate elimination of funding, while unlikely, would be “akin to an asteroid striking without warning.”
“It is the highest risk scenario especially in a time in which the media ecosystem is rapidly changing,” the document said.
Public media defenders say rural audiences would be hit the hardest if funding was cut from NPR and PBS stations. In very remote areas without broadband access, public radio and TV are among the few sources of news and entertainment.
But those in favor of defunding say advances in technology have made those services obsolete. In an interview last month, Representative Marjorie Taylor Greene, Republican of Georgia, said residents in rural parts of her district had enough access to cellphone and internet services to keep them informed.
“The bottom line here: NPR and PBS only have themselves to blame,” said Mike Gonzalez, a fellow at the Heritage Foundation who has argued publicly for defunding public media. “For the last 50 years, every Republican president has tried to defund them or reform them.”
In 2011, NPR executives produced a secret report that explored what would happen if government funding was eliminated. According to the report, up to 18 percent of roughly 1,000 member stations across the United States would close, and $240 million would vanish from public radio. Stations in the Midwest, the South and the West would be most affected, and roughly 30 percent of listeners would lose access to NPR programming.
One potential upside, according to the document: Cutting off federal funding would galvanize public radio supporters, leading to a sudden surge in donations to stations across the United States.
Even with the 2023 strikes in Hollywood’s rearview mirror, writers are still feeling the pinch.
On Friday, the Writers Guild of America released new job statistics highlighting recent declines in television-writing jobs across various levels of the hierarchy. Post-Peak TV, those at the peak of profession were the largest casualties (in numbers).
Of the 1,319 fewer TV writer jobs for the 2023-24 season (vs. 2022-23; pre-strikes), 642 jobs were lost — a decline of 40 percent — at the co-executive producer or higher (up to showrunner) level. Lower-level writers (staff writer, story editor, executive story editor) were the next most affected with 378 fewer jobs versus the prior season, down 46 percent. Mid-level positions (co-producer through consulting/supervising producer) declined by 299 (-42 percent).
All told, there were 1,819 television writing jobs last season, a 42 percent decline from the 2022-23 season. Last season’s numbers are far fewer than even the COVID season of 2019-20, which employed 2,722 writers.
Cord-cutters and corporate greed are to blame, the WGA says.
“With an industry in transition — cable TV subscriptions and cable programming declining, a massive run-up and then pullback in streaming series as Wall Street demands quicker streaming platform profits — the number of TV jobs has declined,” the WGA’s latest jobs report reads.
The report said the “studios’ prolonged unwillingness to negotiate a fair deal in 2023” was also to blame as it shortened the 2023-24 TV season.
The WGA writers strike ran from May to September 2023. The Directors Guild of America reached a deal with media companies, but actors also took to picket lines as the SAG-AFTRA strike ran from July to November. Seasons of scripted shows were trimmed and some pickups were canceled. Approximately 37 percent fewer WGA-covered episodic series aired in 2023-24, per the report.
The report was sent to WGA members Friday morning by the WGA West board of directors and WGA East council; The Hollywood Reporter obtained the email.
“Writing careers have always been difficult to access and sustain, but the contraction has made it especially challenging,” the email to members reads. “We are all subject to the decisions of the companies that control this industry, who have pulled back spending on content based on the demands of Wall Street. Compounding that, the current administration seems intent on causing economic chaos and undermining our democracy.”
Solid WGA data for the still-ongoing 2024-25 television season is still months away, the guild said. The WGA’s new contract with the studios should help employment bounce back — to some degree.
It’s not just about needing more jobs, though that’s certainly a part of the WGA’s current mission. The 2023 negotiations were an attempt to thwart downsizing, yes, but also about “ensuring that however many projects the companies make, the jobs are good ones,” a WGA spokesperson told THR for this story.
Television Writing Jobs Chart
Television Writing Jobs, by Level
Job Level
2018-2019
2019-2020
2022-2023
2023-2024
Lower Level Jobs (Staff Writer, Story Editor, Exec. Story Editor)
795
741
824
446
Mid-Level Jobs (Co-Producer through Consulting/Supervising Producer)
708
649
720
421
Upper Level Jobs (Co-EP through Showrunner)
1,508
1,332
1,594
952
SOURCE: WRITERS GUILD OF AMERICA
Lest writers think movies are a safe haven in this post-Peak TV period, they are not. Though the number of WGA-covered films has been pretty stable over the past few years, the number of screenwriters working is down 15 percent. Screenwriter earnings are down 6 percent.
A penthouse of the “supertall” Manhattan building dubbed the world’s skinniest skyscraper has hit the market at $110 million.
The four-story home, or “quadplex,” spans floors 80 to 83 of the 1,428-foot-tall building 111 W 57th Street and overlooks Central Park. With interiors designed by Studio Sofield, the suggested floor plans features an “entertaining suite” on the first floor and a “primary suite” on the third floor, while the proposed layout is topped off by a “crown suite” containing a bar and screening room.
In total, the propertyfeatures five bedrooms, six bathrooms and two terraces, as well as 360-degree views of New York City.
The penthouse has views overlooking Central Park. Hayes Davidson
The building, also known as the Steinway Tower, was completed in 2022 on the site once occupied by the historic Steinway & Sons piano company. Designed by SHoP Architects and Studio Sofield, it is one of the tallest skyscrapers in the Western hemisphere — and the most slender, with a height-to-width ratio of 24:1.
Its design is meant to evoke New York’s Gilded Age of the late 19th century, when the city experienced a period of unprecedented wealth and a subsequent boom in skyscraper construction, according to the architects.
The vertiginous tower’s facade appears to change throughout the day as the color and texture of the terracotta blocks shift in the light. Inside, designers created a sense of opulence with materials such as marble, limestone, blackened steel and velvet used in the common spaces, and artworks by the likes of Pablo Picasso and Henri Matisse adorning the walls.
Its amenities include an 82-foot swimming pool, private dining rooms and a landscaped terrace.
Steinway Tower pictured during sunset in April 2022. Tayfun Coskun/Anadolu/Getty Images
“We’ve all been to very luxurious places, but I wanted to create a building that could not be anywhere else in the world,” Studio Sofield’s founder, William Sofield, told CNN in 2022. “I know so many people might have multiple homes, who will have apartments here. And I wanted to create a very distinct experience that could only be had in New York.”
Steinway Tower sits on New York’s Billionaire’s Row, where pencil towers have continued to climb higher, including the nearby Central Park Tower, which is the second-tallest building in the city behind One World Trade Center. Though quadplex apartments are rare, another one on Billionaire’s Row — a 24,000-square-foot apartment at 220 Central Park South —broke records in 2019 when it sold for $238 million to become the most expensive home ever sold in the United States.
As the United States and China barreled headfirst into full-fledged trade war this week, one of Beijing’s most fashionable shopping districts was still bustling. People browsed a high-end perfumery, lounged outside coffee shops and waited in a wraparound line for a trendy bakery.
That is just the type of scene the Chinese government wants to see as it steels for what could be a total breakdown of trade with the United States. As President Trump maintains tariffs of at least 125 percent on its goods, China has vowed not to back down. Besides hitting back with its own tariffs — 84 percent on all imports from the United States — the government has promised to make up for the blow to exports, on which China’s economy currently relies, by getting its people to spend more.
“In the face of high tariffs continuing to shrink the space for trade with the United States,” read a commentary on Sunday in People’s Daily, the Chinese Communist Party mouthpiece, China will “make consumption the main driving force and ballast stone of economic growth, and deliver on the advantages of a super-large market.”
But that is easier said than done.
Domestic consumption in China was anemic even before the tariffs. The post-pandemic economic recovery has been lackluster, factories have shuttered and youth unemployment is high. Home prices, the bedrock of many middle-class Chinese families’ wealth, have plummeted.
Even the busy scene at the Beijing shopping area, Taikoo Li, was deceptive. When Chinese people do go out, they increasingly tend to look for bargains or simply browse.
Qu Nan, the 38-year-old founder of a construction company, was sitting at a Starbucks in Taikoo Li. But he wasn’t drinking anything, just meeting a friend.
A Beijing shopping mall on Thursday. Before trade tensions with the United States escalated, there had been signs that Chinese shoppers were starting to spend more.Credit…Andy Wong/Associated Press
Before the pandemic, Mr. Qu would casually spend $25 to $40 for a meal when eating out. But his business had fallen by 20 percent since then, and now he was willing to spend that much only for high-quality food.
“For that price, I might as well cook for myself,” he said. “People’s spending habits have changed. Everyone is making targeted, cost-effective choices.”
The trade war could make people even warier of spending, just as it becomes a higher priority for the government. If exports slow dramatically, it could hurt everyone from garment makers in southern China to kitchen appliance makers on the eastern seaboard. That, in turn, could lead to lower wages or higher unemployment.
“The economy is all integrated, and producers are also consumers. It’s all the same people,” said Zhou Mi, a researcher at an institute affiliated with China’s Ministry of Commerce.
Before the trade tensions began escalating, there had been signs that Chinese people were starting to spend more.
Government incentives to trade in old cars or electronics for new ones lifted sales. A quarterly survey of Chinese consumers released by Deutsche Bank in March found that 54 percent of respondents felt better off financially than a year before, and that 52 percent — the most in a year — were willing to increase their spending.
During a long holiday weekend for China’s Tomb Sweeping Festival this month, travelers crowded into tourist sites and restaurants. They made 126 million domestic trips and spent about $8 billion, according to official data. Both figures represented increases of more than 6 percent from the previous year, and they were above prepandemic levels.
But then Mr. Trump hit China with his staggering new tariffs. China responded with matching tariffs of its own.
A port in the eastern Chinese city of Nanjing on Wednesday. President Trump has imposed tariffs of at least 125 percent on Chinese goods.Credit…Agence France-Presse — Getty Images
In some ways, Americans are more likely to be directly affected by price increases from the tariff war, because imported goods make up the texture of daily life in the United States. China’s U.S. imports are mostly intermediate products, like soybeans and farm equipment, not consumer goods. And China has worked to diversify its supply chains since Mr. Trump imposed tariffs in his first term. Brazil, not the United States, is now China’s top soybean supplier.
Many high-profile American brands in China, like Nike, won’t have to dramatically raise prices, because many of their products are made outside the United States. Some American electronics or cars, like Chevrolets, would see prices jump, but American automakers have been losing ground in China anyway.
Some U.S. brands, like Nike, won’t have to dramatically raise prices in China because of the tariffs, since many of their products are made outside the United States.Credit…Kevin Frayer/Getty Images
Ye Yi, a 42-year-old wine importer in Beijing, would be hurt by the tariffs, in theory. He sells wine from Napa Valley for about $134 a bottle.
But he said he wasn’t worried about China’s new levies, because nobody was buying such expensive wines anyway. They were once popular with businesspeople throwing banquets, but as customers became more cost-conscious they opted for cheaper wines from Australia or Chile.
Mr. Ye said his business had dropped by 70 to 80 percent since early 2023. He does not plan to order more American wine and is looking for ways to get out of the industry altogether, he said.
“We’re riding a donkey while looking for a horse,” Mr. Ye said, using a Chinese idiom about making do.
Indeed, the bigger problem for Chinese consumption is not rising prices, but the fact that people aren’t spending much to begin with.
Many Chinese companies have been entangled in damaging price wars as consumers demand ever-lower prices. Some of the fastest-growing brands in recent years have been ultracheap ones. Qunar, a Chinese travel company, partly attributed the uptick in travel during the Tomb Sweeping Festival to cheaper hotel rooms.
Even if the tariffs hit Chinese manufacturers hard by reducing demand in the United States, or making American intermediate goods more expensive, they may try to absorb the costs themselves, to stay competitive.
Any recent small gains in consumer confidence may already be vanishing. Chinese stocks have fallen sharply this week, though government efforts to stabilize the markets have helped. In manufacturing hubs like Guangzhou, exporters have seen orders canceled.
One of Guangzhou’s many small factories. This one makes restaurant appliances. Credit…Qilai Shen for The New York Times
Many economists agree that in the long term, getting consumers to spend more will require major investments in China’s limited social safety net. Medical costs for serious illnesses can be devastating for families. People from the countryside, in particular, have almost no pensions, and they have trouble accessing education or health care in cities.
“When people feel safe about their retirement life and feel safe about their financials after some major life events like illness, then I think they’re definitely going to be more willing to spend,” said Xu Tianchen, a China analyst at the Economist Intelligence Unit.
Historically, Chinese leaders have been wary of expanding the safety net, citing, among other things, concern about encouraging laziness.
But Mr. Xu said he was optimistic that Beijing was now serious about reforms, to support consumption. The government said last month that it would work to increase wages, pensions and medical benefits.
“Because there’s no way back for U.S.-China trade, I would say, and especially on the China side, they have to be realistic about finding the next engine for the Chinese economy,” Mr. Xu said.
The Bund Bull sculpture in Shanghai on Wednesday.Credit…Hector Retamal/Agence France-Presse — Getty Images
Such substantive changes are likely to take years. In the meantime, consumers will probably remain skittish about the kind of spending that China needs.
In Taikoo Li, the shopping district, Zhao Yong, a 42-year-old photographer, said he was hopeful that the government would issue spending vouchers and roll out other policies to blunt the effects of the trade war.
“Otherwise, what can you buy? You can’t buy a house. You can’t buy stocks. You’d have to be foolish to start your own business,” Mr. Zhao said. “It’s only because our outlook on the general environment is pessimistic that we choose this.”
The stock market staged a brief rally Tuesday on hopes that President Donald Trump would turn from raising tariffs to cutting deals, before sinking amid renewed tough talk by administration officials. The S&P 500 index closed down 1.5 percent, bringing its total loss since the mid-February start of Trump’s trade offensive to almost 20 percent, the official indication of a bear market.
Stocks jumped nearly 4 percent in the first hour of trading, after Treasury Secretary Scott Bessent told CNBC that nearly 70 countries had approached the United States about negotiating over trade barriers. The next escalation of U.S. tariffs was just hours away. But the president fueled the upbeat mood with a subsequent social media post, describing a “great call” with South Korea’s acting president about a potential bargain.
Yet the market rebound soon fizzled.
On Capitol Hill, some of the president’s top aides sought to clarify the trade war’s murky parameters.
Jamieson Greer, the president’s chief trade negotiator, described the nation’s $1.2 trillion trade deficit as an emergency that required “urgent” efforts to reshape the U.S. economy. Greer brushed aside lawmakers’ complaints about potential costs to consumers and businesses, telling the Senate Finance Committee, “The president is fixed in his purpose.”
Bessent, meanwhile, sought to calm Republican fears that Trump’s bare-knuckled assault on the global trading system might trigger a politically lethal recession. During an hour-long meeting hosted by House Majority Whip Tom Emmer (R-Minnesota), Bessent briefed lawmakers and Jay Timmons, the head of the National Association of Manufacturers, on the administration’s plans for a manufacturing revival.
One week after Trump’s announcement of the highest import taxes in more than a century, investors, companies and lawmakers continue trying to make sense of his ultimate goal. For now, the administration says the president is advancing on twin tracks: raising tariffs to encourage manufacturers to return to the United States, while fielding offers by other nations to lower their barriers to U.S. products.
Despite swelling criticism from lawmakers and chief executives, the administration appears vindicated by the eagerness of foreign leaders hoping to avert U.S. tariffs by making a deal with Trump. In her daily briefing for reporters, White House press secretary Karoline Leavitt struck a combative tone.
“America does not need other countries as much as other countries need us,” she said.
The president’s high-risk strategy is already paying off, according to Greer, who cited recent investment announcements by automakers and other manufacturers planning to expand their U.S. operations. Likewise, officials from Argentina, Vietnam and Israel have indicated they will drop their tariff and regulatory barriers to U.S. exports.
Greer and other administration officials are engaged in talks with countries such as Japan and South Korea.
But there is no immediate prospect of talks with the nation at the center of U.S. trade complaints: China. After China imposed a 34 percent tariff on U.S. goods, in retaliation for Trump’s April 2 announcement, the president added an additional 50 percent tax on top of his earlier moves.
As of 12:01 a.m. Wednesday, American importers of some Chinese products will pay a tax of up to 129 percent.
Greer said the administration was “disappointed” with China’s failure to comply with the 2020 “phase one” trade deal Trump signed in his first term, which committed Beijing to make substantial purchases of U.S. farm, energy and manufactured goods. Amid the disruption of the pandemic, which erupted within weeks of the White House signing ceremony for the deal, China fell short of its commercial promises.
After Trump said he would impose the additional 50 percent tariff, China’s Commerce Ministry called the president’s move “a mistake on top of a mistake.” If the United States waged a trade war against China, it would “fight to the end,” the ministry said.
Administration official say they have the advantage over Chinese President Xi Jinping, since Americans buy roughly three times as much from China as the Chinese buy from U.S. companies. Trump said China “panicked” in opting to retaliate for his tariffs.
“The president believes that Xi and China want to make a deal. They just don’t know how to get that started,” Leavitt told reporters.
The administration’s unruly nature, however, is shadowing the president’s policy aims. Growing acrimony between Elon Musk, the world’s richest man, and Peter Navarro, a White House trade adviser, spilled into public view in recent days.
After Navarro disparaged Musk during a CNBC interview as a “car assembler” rather than a manufacturer, the Tesla CEO savaged the former university professor in posts on X as “dumber than a sack of bricks” and “Peter Retarrdo.”
The extraordinary display was praised by Leavitt as evidence of the administration’s transparency.
“Boys will be boys, and we will let their public sparring continue,” she said.
Greer’s congressional testimony offered additional details of Trump’s plan. Asked by several senators whether American businesses would win exclusions from the tariffs to continue importing products that they could not obtain from domestic suppliers, Greer said no.
“The president does not intend to have exclusions,” he said, adding that granting them would undermine the planned economic restructuring. “We’re trying to remedy a situation that’s persisted for many years.”
Though quick to praise the president’s goals, Republicans on the Finance Committee repeatedly voiced worry over the short-term economic costs.
Sen. James Lankford (R-Oklahoma) told Greer a constituent had relocated his supply chain from China to Vietnam in response to the president’s first-term trade policy only to find that he would now be paying a new 46 percent tariff on Vietnamese products.
Cattle ranchers in Montana were distressed by a 92 percent decline in Chinese purchases of U.S. beef last month, as the trade war intensified, according to Sen. Steve Daines (R-Montana).
And Sen. Thom Tillis (R-North Carolina) pronounced himself “skeptical” that the administration could wage a trade war against dozens of countries simultaneously.
“This is creating some anxiety,” said Sen. Todd Young (R-Indiana).
Some big-name tech stocks with notable morning gains joined the broader market in retreating, with Alphabet, Amazon, Apple and Tesla in negative territory Tuesday afternoon.
Stock analysts characterized Tuesday morning’s rally as a natural reaction after weeks of declines, capped by the harshest three-day sell-off in years.
With tariff negotiations beginning, markets “may be an important step closer to finding an equilibrium,” Mark Zabicki, chief investment officer at LPL Financial, wrote in a Tuesday research note.
Some Asian and European markets recovered Tuesday despite the Chinese threats of trade war escalation.
Germany’s DAX gained about 2.5 percent, and London’s FTSE 100 climbed 3.3 percent. Japan’s Nikkei 225 jumped 6 percent, while Hong Kong’s Hang Seng Index and India’s Sensex were both up 1.5 percent.
But markets in several Southeast Asian countries, which are vulnerable to any disruption of global trade, suffered more losses. Markets in Vietnam and Indonesia declined more than 7 percent, while an index linked to Thailand was down more than 4 percent. Taiwan’s Taiex fell 4 percent.
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