Stocks Slide, Trump Defends ICE in Deadly MN Shooting, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Amy Morris. There's a closing bell for this Wednesday on Wall Street where big tech was back in the pole position as traders digested some mixed economic data.
How did major U.S. stock indexes perform at Wednesday's close?
More on that just ahead. They also took stock of some shifting geopolitical risks with yields falling across the globe. And we bring you the closing numbers each day here at Bloomberg. The S&P 500 lost 24 points. NASDAQ gained 37 points. The Dow lost 465 points. The 10-year Treasury yield at 4.13%. The two-year yield... at 3.46%. The Wall Street Journal now reporting JP Morgan has reached a deal to take over the Apple credit card. More on that as we get it. And we will return to markets shortly. But first, President Trump is defending the ICE officer who shot and killed a woman in Minneapolis. Homeland Security officials say the officer was acting in self-defense.
Why were Treasury yields and global bond markets moving lower?
DHS Secretary Kristi Noem.
It was an act of domestic terrorism. What happened was our ICE officers were out in an enforcement action. They got stuck in the snow because of the adverse weather that is in Minneapolis. They were attempting to push out their vehicle and a woman attacked them and those surrounding them and attempted to run them over and ram them with her vehicle.
Minneapolis Mayor Jacob Fry rejects the claim of self-defense and called for ICE agents to leave the city immediately. To ICE, get the f*** out of Minneapolis. We do not want you here. The incident sparked anger over the presence of ICE agents in Minneapolis. Minnesota Governor Tim Walz calling on residents to remain calm. President Trump says he'll move to ban institutional investors from buying single-family homes, part of a push to address housing affordability. Wisconsin Republican Congressman Brian Stile is a member of the House Financial Services Committee. He says he looks forward to seeing details of that proposal.
Evaluating it when we do, but working broadly to make sure that we are working to make housing more affordable and accessible to families in the United States.
Hear more from Brian Stile on the Bloomberg Balance of Power podcast. Shares of major defense contractors also fell after Trump posted on social media that he will not allow defense companies to issue dividends or buy back their own stock until they invest more in production and research. Trump says executive pay at defense companies should be capped at $5 million until they build what he called new and modern production plants. The United States says it seized two sanctioned oil tankers linked to Venezuela in back-to-back actions in the North Atlantic and the Caribbean. Bloomberg's Mike Shepard.
This would be perhaps the fourth or more seizure of a Venezuela-bound or Venezuela-departing tanker by U.S. forces as a result of this blockade that the U.S. has imposed.
After briefing Senate lawmakers about the U.S. operation in Venezuela, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth talked with reporters on Capitol Hill.
We are going to take between 30 and 50 million barrels of oil. We're going to sell it in the marketplace at market rates, not at the discounts Venezuela was getting. That money will then be handled in such a way that we will control how it is dispersed in a way that benefits the Venezuelan people, not corruption, not the regime. So we have a lot of leverage to move on the stabilization front.
Rubio says the second phase will ensure other Western companies have access to the Venezuelan oil market. The Trump administration plans to control future sales of oil from Venezuela and use the proceeds to rebuild the nation's economy. Energy Secretary Chris Wright says the U.S. will sell Venezuelan oil indefinitely.
We're going to let the oil flow, sell that market to United States refineries and to around the world to bring better oil supplies, but have those sales done by the U.S. government and deposited into accounts controlled by the U.S.
What are the details of the Minneapolis ICE shooting and reactions from officials?
government.
Energy Secretary Chris Wright was speaking at the Goldman Sachs Energy, Clean Tech, and Utilities Conference in Miami.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–0:16
2
How did major U.S. stock indexes perform at Wednesday's close?
0:16–1:02
3
Why were Treasury yields and global bond markets moving lower?
1:02–3:59
4
What are the details of the Minneapolis ICE shooting and reactions from officials?
3:59–5:49
Speakers
6 identifiedMore from Bloomberg News Now
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