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A second round of tariffs from Donald Trump is set to begin in just hours with new duties on America’s top three trading partners: Canada, China, and Mexico. There is “no room left for Canada or for Mexico,” Trump reiterated Monday afternoon at the White House, saying he wouldn’t pare back his tariffs levels on those two countries. “They’re all set,” he added. The president signed the first of these actions on Monday afternoon with new duties against China in an order that charged the country “has not taken adequate steps to alleviate the illicit drug crisis.” The president is…

Nvidia (NVDA) stock sank 8.7% Monday to its lowest closing price since last September as reports surfaced of the tech giant’s AI chips reaching China despite export controls. The Wall Street Journal reported late Sunday that Nvidia’s latest Blackwell chips are reaching China through third-party resellers using entities registered in nearby regions in violation of export controls. NasdaqGS – Delayed Quote • USD That report was followed by news that Singapore is probing Nvidia’s customers Dell (DELL) and Super Micro Computer (SMCI) — companies that make servers using the chipmaker’s Blackwell GPUs (graphics processing units) — for potentially violating US…

If Elon Musk is helping President Trump dismantle the federal government so he can add even more billions to his personal fortune, he’s doing a lousy job of it. As head of the “DOGE” efficiency commission, the Tesla (TSLA) CEO has become Trump’s top consigliere and one of the most powerful unelected officials in American history. Musk’s team is eviscerating select government agencies, firing thousands of federal bureaucrats, undoing billions of dollars in spending approved by Congress — and claiming new powers for the executive branch. Trump has given him so much authority that “President Musk” is a recurring theme…

Okta (OKTA) co-founder and CEO Todd McKinnon — a longtime competitive CrossFit athlete — said his latest earnings report out Monday definitely beats tossing wall balls. He makes a good point. “This is a blowout quarter,” McKinnon told me in a Yahoo Finance Opening Bid podcast exclusive (see video above). “It’s reflective of big deals in the quarter,” McKinnon said, pointing to a 25% surge in subscription backlog to more than $4 billion. New products represented 20% of total subscription bookings, its highest level ever, per McKinnon. Okta beat analyst estimates on sales, earnings, and initial 2025 profit guidance. Okta…

America’s farmers have once again found themselves at the center of global trade tensions this week as Donald Trump’s implementation of new tariffs was met with countermoves that could raise food prices and impact rural economies. China’s immediate retaliation Tuesday largely focused on agriculture. Canada also offered a focus on the sector in a reflection of the importance of farmers — both politically and economically — to Trump. It’s a partial replay of Trump 1.0 trade fights that played out in 2018 and 2019. But there are plenty of differences this time around as global trading relationships have shifted and…

President Trump’s tariffs are taking a toll on Best Buy (BBY) just as the company is starting to turn sales around. Best Buy stock plunged 13% on Tuesday as a new round of tariffs was imposed on America’s top three trading partners, Canada, China, and Mexico. The president implemented 25% duties on Canadian and Mexican imports following a 30-day pause. An additional 10% duty on Chinese imports was added after instituting 10% in February. On a media call, Best Buy CEO Corie Barry said around 55% of its products are sourced from China “in some way, shape, or form,” and…

The former head of the Social Security Administration is warning that the agency could be at risk of missing payments to seniors for the first time in its history thanks to the dramatic staffing cuts planned by the Trump administration as it seeks to slash the federal workforce. “I do think it’s going to happen,” Martin O’Malley, who served as Social Security commissioner under former President Joe Biden, told Yahoo Finance. “If I were a beneficiary, I’d be setting aside some money right now.” Social Security Administration officials announced late last week that they intended to lower the agency’s headcount…

BlackRock (BLK) CEO Larry Fink is notching some early wins in the new Trump era. The latest came Tuesday when the world’s largest money manager announced that a BlackRock-led investment coalition would take control of two key ports on either end of the Panama Canal for the price of $22.8 billion. The move essentially gives President Trump something he asked for — a larger American presence at this vital shipping lane where he had alleged Chinese interference. The ports being picked up by BlackRock are owned by Hong Kong-based conglomerate CK Hutchison Holding. The canal itself is still controlled by…

Worries of a full-blown trade war and more supply entering the market sent oil futures tumbling to a six-month low on Wednesday, dragging energy stocks with it. On Wednesday morning West Texas Intermediate crude (CL=F) dropped more than 3% to hover near $65 per barrel while Brent futures (BZ=F) broke below $70 per barrel. Oil has plunged roughly 5% over the past three sessions amid fears of a tariff war impacting economic growth, more crude supply about to enter the market as recently announced by the Organization of Petroleum Exporting Countries (OPEC), and efforts to end the Ukraine-Russia war. Read…

Novo Nordisk (NVO) announced a new cash-pay option for its blockbuster weight-loss drug Wegovy, offering a monthly dose at $499 and home delivery. The move follows competitor Eli Lilly (LLY), which similarly announced a $499 cash program for its weight-loss drug Zepbound. The two GLP-1 market leaders see the need to launch more access points to meet ongoing demand for the drugs. Especially after the FDA determined that their products, also known by their active ingredients — semaglutide for Wegovy and tirzepatide for Zepbound — are no longer in shortage, starting a countdown clock to unbranded knockoffs sold by compounding…