 |
|
|
|||||
Those hoping that the stock market pain from President Donald Trumps tariff announcements last week was over are in for a rude awakening this morning. As of the time of this writing, stock markets across the world have gotten hammered, adding to fears of a new so-called economic nuclear war. Heres what you need to know about the latest developments in Trumps tariff trade war and how the markets are reacting. Bill Ackman: Trump tariffs are economic nuclear war One of the most headline-grabbing pieces of news related to the ongoing stock market crash is comments from billionaire hedge fund manager and Trump supporter Bill Ackman. Yesterday, Ackman took to X to warn that Trumps tariffs, the worst of which are scheduled to go into effect this Wednesday, April 9, are equivalent to economic nuclear war. In a post on X, Ackman said that the tariffs on America’s allies and enemies across the globe mean America is in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital. Ackman suggested that Trump should call a 90-day time out on the tariffs so the administration can negotiate with its trading partners. However, Ackman warned, If, on the other hand, on April 9th we launch economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate. Will Trump and his administration heed Ackmans advice? Thats unknown. But they certainly didnt seem to have similar thoughts over the weekend, when Trumps administration spent much of the time doubling down on the tariffs that are currently sinking Americans retirement savings and already raising the prices American consumers pay for goods. In a post on his social media platform, Truth Social, President Trump boasted that many of the tariffs are already in effect, and a beautiful thing to behold. Trump went on to proclaim that Some day people will realize that Tariffs, for the United States of America, are a very beautiful thing! Markets plunge around the worldagain However, outside of Trump and his administration, its unlikely that many Americans feel that the tariffs are a beautiful thing to beholdat least if they have a 401(k) pension or other retirement plans. Thats because, as of the time of this writing, stock markets around the world are crashing yet again, following major crashes on Thursday and Friday of last weekthe two trading days after Trump announced his tariffs on April 2. Today, the third trading day after Trumps tariff announcement, markets in Asia and Europe have already plummeted, according to data from Yahoo Finance. In Japan, the country’s Nikkei 225 stock market fell 7.83% on Monday, and Hong Kongs Hang Seng Index fell a staggering 13.22%. Shanghais SSE Composite Index fell 7.34%. European markets are currently in the middle of their trading day and are also getting hit hard. The United Kingdom’s FTSE 100 is currently down 3.62% as of the time of this writing. Frances CAC 40 is down 3.92%, and Germanys DAX Performance Index is down 3.66%. American stock markets are also down in premarket trading, suggesting that U.S. markets are in for another rough session when they open at 9:30 a.m. ET. S&P 500 Futures: down 1.79% Dow Futures: down 1.93% Nasdaq Futures: down 1.95% Big Tech and Big Retail sinkagain Given that S&P, Dow, and Nasdaq futures are all down as of the time of this writing, it should come as little surprise that major U.S. tech companies and retailers are also seeing their shares sink for the third trading day in a row after Trumps tariffs were announced. Many U.S. tech companies and most U.S. retailers rely on products, parts, or components that come from Asia, which is the region of the world hit hardest by Trumps tariffs. Here is how major tech companies are currently trading as of the time of this writing in premarket trading: Alphabet Inc. (Nasdaq: GOOG): down 1.48% Amazon.com, Inc. (Nasdaq: AMZN): down 2.09% Apple Inc. (Nasdaq: AAPL): down 2.75% Meta Platforms, Inc. (Nasdaq: META): down 2.24% Microsoft Corporation (Nasdaq: MSFT): down 1.61% NVIDIA Corporation (Nasdaq: NVDA): down 3.39% Shopify Inc. (Nasdaq: SHOP): down 5.55% Tesla, Inc. (Nasdaq: TSLA): down 4.84% And here is how major U.S. retailers are currently trading in premarket: RH (NYSE: RH): down 0.47% V.F. Corporation (NYSE: VFC): down 4.93% Five Below, Inc. (Nasdaq: FIVE): down 2.11% Wayfair Inc. (NYSE: W): down 4.91% SharkNinja, Inc. (NYSE: SN): down 1.56% Walmart Inc. (NYSE: WMT): down 1.02% Costco Wholesale Corporation (Nasdaq: COST): down 0.96% Target Corporation (NYSE: TGT): down 2.21% While many of these stocks are seeing low double-digit drops in premarket this morning, keep in mind that most were hammered much, much harder last Thursday and Friday. Now cryptocurrencies are crashing, too But its not just stock markets and individual stocks that are falling today. Now cryptocurrencies are being hit fairly hard, too. As of the time of this writing, major digital assets are down, including: Bitcoin: down 6.79% to $77,141.06 Ethereum: down 16.28% to $1,495.82 Solana: down 15.12% to $100.89 Dogecoin: down 14.85% to $0.1398 Official Trump: down 14.4% to $7.69 Banks say the odds of a global recession are increasing Finally, it should be noted that now a second major investment bank has come out to say that, due to Trumps tariffs, the odds of a new global recession are increasing. Last week, J.P.Morgan upped the odds of a global recession due to Trumps tariffs to 60% (up from 40% before the tariffs were announced). Now, Goldman Sachs has also raised its odds. Pre-Trump tariffs, Goldman Sachs said that there was a 35% chance of a recession. Now Goldman Sachs says that the chance has jumped to 45%, notes Reuters.
Category:
E-Commerce
Its no secret: Landing a job in todays economy can feel overwhelmingly difficult. Qualified candidates regularly apply to hundredssometimes even thousandsof positions before receiving that one coveted offer. In fact, over half of unemployed job seekers have been searching for four months or longer, highlighting how competitive the market has become. And its not just the job market itself thats challenging. Were living through one of the most turbulent periods in modern history: The U.S. unemployment rate rose to 4.1%, the highest in over two years. 23,000+ tech layoffs occurred in the first three months of 2025 alone. Nearly 50% of Americans are living paycheck to paycheck. Consumer debt hit an all-time high of $18.04 trillion, with credit card delinquencies increasing sharply. University degrees are no longer a guarantee of success. Even government jobs, once considered safe, are under threat. Its no wonder many job seekers feel anxious or fearful about asking for more. Negotiation expert and career coach Ted Leonhardt notes that the fear of asking for higher pay has always been an obstacle. And in todays volatile environment, that fear can feel even more paralyzing. But he emphasizes: Workers at any level are more vulnerable today than any time in memory, perhaps since the Great Depression. This makes knowing your worth and advocating for yourself all the more essential. Here are six essential tips for confidently negotiating your salary in todays tough economy. 1.Hide your desperation A Pew Research Center survey found that most U.S. workers did not ask for higher pay the last time they were hired, with men slightly more likely than women to negotiate (32% vs. 28%). Even if youre surviving on ramen and desperately need the job, dont let it show. Employers often interpret eagerness as desperation, leading to lower initial offers. Take your time to respondusually 24 to 48 hoursand subtly indicate youre considering multiple opportunities. This helps maintain your negotiating power.Leonhard further advises: Always be developing a new opportunity for yourself. A side gig. A better job elsewhere. Having other options in progress or appearing to can drastically reduce that sense of desperation. 2. Know your worth and back it up with data Before negotiating, gather salary benchmarks from sites like Glassdoor, Payscale, and LinkedIn Salary. Present clear, data-backed reasons for your requested salary based on your experience, skills, and current market rates. Leonhardt succinctly puts it: Know your value and use it as leverage. Leverage is always your superpower. Staying true to your worth can provide dividends. Annie Papp, executive vice president at Career Group Companies, advises that: In any job market, applicants should be prepared to come right out and ask for a raise or negotiate higher compensation. While it may seem obvious, most people dont do this, assuming their employer will offer a raise without promptingwhich is rarely the case. 3. Quantify your value Make a detailed list of your accomplishments and quantify your impact whenever possible. For example: Increased sales by 300% within one year or Managed projects that increased revenue by $X amount. Even before the negotiation, review this to remind yourself of your accomplishments and the value you bring, boosting your confidence. 4. Bet on yourself and plan for the future If the job offer isnt quite where you want it to be, focus on creating a clear path to get there over the next year. Jason Giagrande, CEO of Hospitality Farm, suggests: Bet on yourself. Propose a lucrative bonus structure with aggressive milestones or KPIs that your boss would be happy to pay if accomplished. Everyone wins, and it will motivate your growth individually as well as help your company grow. Not only does this show initiative, but it also aligns your compensation with company goals, making it easier for employers to say yes. 5. Be willing to walk away (if you truly are) One key to negotiation success is the willingness to walk away. Listen carefully, remain composed, and always take time to consider the offer before responding. 6. Consider negotiating benefits, not just salary If salary negotiations stall, consider other forms of compensation. Diversify your requests to reach a deal that satisfies both sides. Signing bonuses, professional development funds, flexible work arrangements, or extra vacation days can all hold significant value.This market is different because employers are being more cautious when it comes to hiring and budgeting. A few years ago, on the heels of the pandemic, applicants could negotiate higher salaries much more easily because every employer was in a desperate race to retain talent. Now, thats not the case. The frenzy has slowed, and employers are taking their time. While inflated salary increases may no longer be the norm, advocating for growth is still crucial. Losing strong talent can ultimately have a far greater cost than providing a reasonable raise, Papp says. If higher compensation isnt immediately feasible, ask for a timeline to revisit the conversation. Finally, Leonhardt offers a lasting piece of advice: Always be developing your connections and community both online and off. Connections with those you help are always the best opportunity for your continuously evolving future. Negotiation can feel intimidating, especially in a fragile, uncertain world. But by advocating for yourself thoughtfully and strategically, youre not just setting yourself up for immediate successyoure safeguarding your long-term career stability.
Category:
E-Commerce
Hello and welcome to Modern CEO! Im Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. If you received this newsletter from a friend, you can sign up to get it yourself every Monday morning. Interim leadership is on the rise in the U.S. Nearly a quarter of new CEOs named in the first two months of 2025 were hired on an interim basis, versus 8% in the same period last year, according to a recent report from Challenger, Gray & Christmas. The surge in interim leadership coincides with significant tumult in the C-suite. The Challenger report shows that 247 U.S. companies named new CEOs in February, the second-highest total for any month since the firm started tracking CEO changes in 2002. A lot of times when a company brings in an interim CEO its when theyve been caught off guard by the CEOs departure, says Andy Challenger, senior vice president of the outplacement firm. Its not part of a structured succession plan. An interim CEO can buy a board time to conduct a thoughtful search for the right executive, especially if it feels the company needs skills that the existing leadership team lacks. Management experts say theyre also seeing companiesparticularly mid-market and investor-backed businesseshire temporary CEOs during changes such as restructuring, merger integration, or executing a new strategy. Their expertise can be crucial to navigating complex changes that require seasoned leadershipeven temporary solutions can be transformative for an organization, says Sunny Ackerman, global managing partner of on-demand talent at Heidrick & Struggles, the executive search firm. The Temp-to-perm CEO Interim roles also can serve as a tryout for prospective CEO candidates. And companies can engage an interim executive while they figure out what they need in a leader. Ackerman recalls working with her team on an early-stage medical technology company that sought to replace its founder with a full-time CEO. Heidrick & Struggles brought in a life sciences consultant who had been a CEO to create a plan for market entry. The board then hired that consultant as interim CEO to execute the plan. Once they saw his operational skills and market expertise in practice, the board eventually decided to convert him to permanent CEO. Other temp-to-perm CEOs include Chipotles Scott Boatwright, who went from interim in August 2024 to permanent status three months later, and Lance Tucker, who last month was named CEO of Jack in the Box after a 36-day stint as interim CEO of the restaurant company. Avoid leadership limbo Companies need to be careful not to let interim leadership linger. If [an] interim is in place too long, it may communicate the wrong message to the market and employees and create uncertainty about the future leadership of the organization and its strategy, says Janice Ellig, CEO of executive search firm Ellig Group. Employees and the market like certainty. They want to know who is at the helm and what direction they are headed. And in the absence of clear guidance from the board, some interim chiefs may act like caretakers instead of leaders, causing the company to lose ground during the search for a permanent CEO. One things for sure: Interim CEOs arent going away. Ackerman notes that many of the CEOs exiting business right now are baby boomer and Gen X retirees who are eager to remain active by taking on interim roles, generating a larger pool of independent talent than weve ever seen before, she says. Are you a temp-to-perm leader? Are you a CEO or leader who turned a temporary or interim role into a permanent one? How did you win your role? Send your stories to me at stephaniemehta@mansueto.com. Id love to share your experiences in a future newsletter. Read more: temps in the C-suite The great fractionalization may be coming to your leadership team How to step in as an interim manager Interim CEO posts: intense and eye-opening
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||