According to The Kobeissi Letter, the S&P 500 fell by 100 points as Bessent reports that Trump has not unilaterally reduced tariffs on China. This decline follows a Wall Street Journal report on potential tariff reductions from 145% to 50%-65%, which Bessent did not confirm.

According to The Kobeissi Letter, listings have accelerated following DOGE's announcement of a federal employee buyout offer. The offer, which pays employees through September 2025 if they resign, is expected to be accepted by 5%-10% of employees. As reported by the Wall Street Journal, 65,000 federal employees have already accepted the offer this week, potentially influencing market dynamics.