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DoorDash

Founded in 2013 and headquartered in San Francisco, DoorDash is an online delivery demand aggregator. Consumers can use its app to order food items on-demand for delivery or in-store from merchants. Through the acquisition of Wolt in 2022, the firm also provides this service in Europe and Asia. DoorDash creates a marketplace for merchants to establish a presence online, market their offerings, and meet demand through delivery. The firm provides similar service to nonrestaurant businesses, such as grocery, retail, and pet supplies. Dash is also rolling out nascent technology like drone delivery in an effort to continually innovate and provide the best possible service to supply-side and demand-side contingents of its marketplace.

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Grant Cardone, author of "The 10X Rule," has been educating people about real estate for decades. He preaches investing your money so you can multiply it and is not a fan of keeping money in the bank where it will earn a low interest.
While stocks and real estate have been popular investments for decades, alternative investments like crypto have been gaining steam. Alternative investments give people more choices, but Cardone believes that some people are a bit generous with how they define alternative assets.
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The real estate mogul recently published an <a href="https://x.com/GrantCardone/status/1905254790973550780">X post</a> reacting to a video of a woman buying six Birkin bags. She referred to them as investments, but Cardone wasn't having it.
"Birkin bags are not investments. Those are ‘look at me' expenditures," he stated in the post.&nbsp;
<h2 class="wp-block-heading">Calling It an Investment Aims to Justify an Irrational Purchase</h2>
Cardone explains in his post that using the same money to <a href="https://www.benzinga.com/personal-finance/25/03/44485950/stocks-or-house-24-year-old-with-15k-struggles-with-risky-choices-i-have-no-idea-when-id-be-read">buy real estate</a> could have generated cash flow every month. Real estate also has the potential to double every seven years.
Luxury items, in the simplest terms, are items that display luxury. They aim to show off a perceived prestige and make the buyer look more impressive to others.&nbsp;
Some people call them investments in an effort to justify a purchase or appear smart. This trend extends beyond handbags.&nbsp;
One X user responded to Cardone's post asking if he views Richard Mille watches as investments. Cardone simply said, "Stupid &#8211; watches are not investments. [They're] watches."
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
<h2 class="wp-block-heading">You Can Buy Luxury Items, But They Are Not Investments</h2>
Consumers are free to buy luxury items, but you should have your finances in order before you make those types of purchases. It's better to prolong those purchases and put your money into stocks, real estate, or another true investment.&nbsp;
<a href="https://in.benzinga.com/personal-finance/25/03/44473843/walking-on-red-puts-you-in-the-red-suze-ormans-verdict-on-845-designer-heels">Luxury items</a> display wealth, but who are you displaying it to? Most people glance at luxury items and then continue with their days. Instead of aiming to impress others by displaying wealth, Cardone is an advocate of building real wealth.&nbsp;
While Cardone isn't afraid to show off his watches, private jet, and real estate properties, he has built real wealth. As someone who is selling people on the benefits of real estate and how it can drive wealth, it makes sense for Cardone to show off what he has accomplished.&nbsp;
Cardone also built wealth before buying those things. He's not going deep into credit card debt to afford luxuries. It's better to be wealthy than it is to look wealthy.&nbsp;
See Also: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
<h2 class="wp-block-heading">Create a Budget</h2>
If you want to buy luxury items, you should take an inventory of your budget and see how much you can afford. Mapping out your income and expenses will help you gauge how much you can afford, but that's just a starting point.
People who want to build long-term wealth should invest a percentage of every paycheck before they start spending it. For instance, if you set aside 10% of every paycheck before covering any expenses, it's easier to grow long-term wealth. That 10% figure is a minimum, and you can contribute more than 10% of your paycheck when you have fewer expenses or want to reach your financial goals sooner.
Luxury items will slow down your path to long-term wealth. The money you put into these items cannot go toward any investments. While some people like to view luxury handbags as investments, they can also turn you into a target if you are walking alone at night.&nbsp;
With that said, people like to spend money on their hobbies. If buying luxury items is your hobby, you can set aside some money for it each month with a good budget. However, you should put your investments above luxury items.
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<li>Have $200K saved?<a href="https://www.benzinga.com/money/have-200k-saved-heres-how-to-turn-it-into-lasting-wealth"> Here's how to turn it into lasting wealth</a></li>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
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Personal Finance

Grant Cardone Roasts Luxury Items and Recommends Real Estate Instead: 'Birkin Bags Are Not Investments'

Mark Cuban is urging Americans to stock up on essentials—everything from toothpaste to soap—before prices rise even more.
In a Bluesky <a href="https://bsky.app/profile/mcuban.bsky.social/post/3llucjq4wkc2h">post</a> on Wednesday, the billionaire investor and entrepreneur wrote, &#8220;It&#8217;s not a bad idea to go to the local Walmart or big box retailer and buy lots of consumables now. From toothpaste to soap, anything you can find storage space for, buy before they have to replenish inventory. Even if it&#8217;s made in the USA, they will jack up the price and blame it on tariffs.&#8221;
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<h2 class="wp-block-heading">Prices Could Rise Quickly</h2>
Cuban&#8217;s warning comes just as President Donald Trump&#8217;s <a href="https://www.benzinga.com/markets/25/04/44621408/market-access-has-a-price-trump-unveils-list-of-tariffs-countries-targeted">new round of sweeping tariffs</a> begins to take effect. The tariffs target trading partners including China, Vietnam and Sri Lanka, with duties ranging from 34% to 46%, starting April 9. Trump calls it a &#8220;Declaration of Economic Independence.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Monstrously destructive, incoherent, ill-informed tariffs based on fabrications, imagined wrongs, discredited theories and ignorance of decades of evidence. And the real tragedy is that they will hurt working Americans more than anyone else.
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1907548227798274400?ref_src=twsrc%5Etfw">April 2, 2025</a></blockquote>
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<a href="https://www.benzinga.com/markets/equities/25/04/44620423/trumps-sweeping-tariffs-could-cost-us-20-trillion-crash-markets-warn-economists-monstrously-destructive">Economists warn</a> that the damage could be severe. &#8220;Monstrously destructive, incoherent, ill-informed tariffs based on fabrications&#8221; is how University of Michigan professor Justin Wolfers <a href="https://x.com/JustinWolfers/status/1907548227798274400">described</a> the plan on X.&nbsp;
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
Former Treasury Secretary Larry Summers <a href="https://x.com/LHSummers/status/1907603078909432312">said</a> the economic damage could reach $20 trillion—or more than $200,000 per U.S. household—pointing out that the <a href="https://www.benzinga.com/25/04/44622754/tariffs-are-most-expensive-and-masochistic-could-cost-30-trillion-to-the-economy-erasing-300k-per-family-explains-former-treasury-secretary-larry-summers">stock market lost</a> about $1.5 trillion in value immediately after Trump's announcement.&nbsp;
"As the president spoke, the value of all US stocks fell at least 2 to 3 percent. Most of the losses to corporations were already discounted before the president spoke. So $4 trillion is a better estimate of stock market loss," Summers also <a href="https://x.com/LHSummers/status/1907603077160411317">said</a>.
<h2 class="wp-block-heading">Who Can Afford To Stock Up</h2>
Cuban's post sparked a heated debate online. Some users said Costco Wholesale (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) instead of Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) or Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>). But others pushed back, pointing out that not everyone can afford a Costco membership—or even stock up in the first place.
"Unfortunately, those who will be hit hardest by this are also the people who cannot buy extra to stock up," one user wrote. "This country abuses the crap out of the poor."
See Also: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.
Another added, "Nor do they likely have room to store all these extra things that they can&#8217;t afford to buy."
Others raised concerns about hoarding. "Please, please, please do not encourage hoarding," one commenter said. "It's this kind of sh&#x2A;t that made people run out and buy 17,000 bottles of antibacterial soap."
Still, many agree prices are on the way up—and fast. The only question now is who can actually afford to prepare for it.
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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
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COST

'Stock Up Now,' Says Mark Cuban. He Warns That Even American-Made Goods Will See Price Hikes Soon

<ul>
<li>Bitcoin eroded market optimism with a significant retreat in response to President Donald Trump&#8217;s &#8220;Liberation Day&#8221; tariffs.</li>
<li>BitMEX founder Arthur Hayes has highlighted a key level to watch amid the rout.</li>
<li>Hayes has maintained the belief that Bitcoin still has a chance of more than doubling in price this year.</li>
</ul>
After days of anxious waiting, President Donald Trump&#8217;s &#8220;Liberation Day&#8221; came and went. As anticipated, equity and cryptocurrency markets did not like the idea of fresh and broad tariffs. <a href="https://www.benzinga.com/markets/equities/25/04/44620686/sp-500-nasdaq-futures-plunge-over-3-as-trumps-reciprocal-tariff-plan-hits-market-confidence">A broad market sell-off</a> ensued in after-hours trading&nbsp; as the president read off his chart outlining &#8220;reciprocal tariffs&#8221; on almost every country in the world, including uninhabited islands.
Bitcoin, in particular, dropped 5% from $88,500 to just over $82,000 and continues to trade near these lows, <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44603859/bitcoin-braces-for-trump-tariff-announcement-short-term-optimism-has-the-upper-hand-experts-say">eroding earlier market optimism</a>. Amid the rout, one prominent analyst has pointed to a key level to watch.
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<li>Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.55 per share now</a>.</li>
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<h2 class="wp-block-heading">The Line In The Sand For Bitcoin?</h2>
According to BitMEX founder and Maelstrom CIO Arthur Hayes, the $76,500 price point is the level to watch for Bitcoin.
&#8220;if BTC can hold $76.5k btw now and US tax day Apr 15, then we are out of the woods,&#8221; he wrote in a Wednesday X post following Trump&#8217;s tariff announcements.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Mrkt no likey &quot;Liberation Day&quot;, if <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> can hold $76.5k btw now and US tax day Apr 15, then we are out of the woods. Don&#39;t get chopped up!
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1907547718681244009?ref_src=twsrc%5Etfw">April 2, 2025</a></blockquote>
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The price level aligns with the three-month price low Bitcoin hit on March 11. On March 20, Hayes <a href="https://x.com/CryptoHayes/status/1902564099592220793?t=wy6Bn4bxT1QzQLlipqlSHA&amp;s=19">speculated</a> that the level was the line in the sand for the asset, suggesting that the worst of the recent correction is over and that it is unlikely the asset will break below the level before making a run for new highs.
Trending: If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?
For confirmation of Hayes&#8217; analysis, bulls will want to see a strong bounce from that level should Bitcoin retest it.
The analyst&#8217;s view comes as he continues to maintain that the leading digital asset is on course to more than double in price this year.
<h2 class="wp-block-heading">Bitcoin&#8217;s Road To $250,000 According To Arthur Hayes</h2>
Specifically, Hayes maintains that Bitcoin can still hit $250,000 by the end of the year.
This prediction is based on the belief that the Federal Reserve will have no choice but to pivot from quantitative tightening to quantitative easing due to political pressure as Trump seeks to reduce the U.S.&#8217;s trade deficit from 7% to 3% by 2028. In this scenario, the liquidity created is expected to boost risk markets, including cryptocurrencies like Bitcoin.
In the analyst&#8217;s telling, this pivot may have already started following <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44405112/tariff-inflation-may-be-transitory-powell-says-stocks-rally-bitcoin-clears-85000-as-bulls-return">remarks from Fed Chair Jerome Powell</a> in March. He announced a slowdown of the central bank's quantitative tightening efforts that kicked off Tuesday while stating that he now expected tariff inflation to be &#8220;transitory.&#8221;
See Also: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
With the move to slow down quantitative tightening, Hayes argued that the apex bank was already on course to create an extra $240 billion in liquidity.
&#8220;If my analysis of the Fed&#8217;s major pivot from QT to QE for treasuries is correct, then Bitcoin hit a local low of $76,500 last month, and now we begin the ascent to $250,000 by year-end,&#8221; he submitted in an <a href="https://open.substack.com/pub/cryptohayes/p/the-bbc?utm_source=share&amp;utm_medium=android&amp;r=lwh9y">essay</a> released on Tuesday.
Meanwhile, Hayes&#8217; expectation of greater market liquidity is not limited to the U.S. The analyst also expects China and Europe to join in the money printing—the former to defend the dollar-yuan exchange rate, the latter to build armies as the U.S. under Trump looks set to step back from guaranteeing its protection.
Nonetheless, at the time of writing, Bitcoin continues to fall, trading below $82,000 in an over 5% decline over the past 24 hours.
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<li>Have $200K saved?<a href="https://www.benzinga.com/money/have-200k-saved-heres-how-to-turn-it-into-lasting-wealth"> Here's how to turn it into lasting wealth</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
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If Bitcoin Holds This Level Between Now And April 15, Arthur Hayes Says 'We Are Out Of The Woods'

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener">many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.
Wall Street reeled this week as President Donald Trump's new global tariffs and hawkish Fed signals rattled investors. The tariffs triggered broad selloffs, dragging the S&amp;P 500 to its worst weekly loss since the pandemic's onset in 2020.
Stocks tumbled Thursday and Friday, with tech and consumer names especially hard-hit, as traders braced for higher costs and retaliatory trade risks. Concerns mounted over how renewed trade tensions could disrupt supply chains and weigh on corporate margins.
At the same time, Federal Reserve officials signaled fewer rate cuts ahead, compounding fears and sending bond yields higher, further pressuring equities across sectors.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.
The Bulls
<a href="https://www.benzinga.com/25/04/44645277/why-is-ev-maker-mullen-automotive-stock-skyrocketing-today">"Why Is EV Maker Mullen Automotive Stock Skyrocketing Today?"</a>, by Shivani Kumaresan, reports that Mullen Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) shares surged over 80% after the EV maker secured a $50 million funding commitment and reaffirmed it won't pursue a reverse stock split.
<a href="https://www.benzinga.com/news/earnings/25/04/44589883/why-cloudastructure-stock-is-soaring-tuesday">"Why Cloudastructure Stock Is Soaring Tuesday"</a>, by Adam Eckert, reports that Cloudastructure Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CLOU#OTC">CLOU</a>) shares jumped over 40% after the company reported a 161% year-over-year revenue increase in its fiscal fourth quarter and a significantly narrowed net loss.
<a href="https://www.benzinga.com/news/management/25/04/44597023/trumps-tariffs-could-spark-reshoring-boom-for-these-4-us-stocks">"Trump's Tariffs Could Spark Reshoring Boom For These 4 US Stocks"</a>, by Erica Kollman, explores how new U.S. tariffs and China's response could boost reshoring plays like Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), Eaton Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>), General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), and Emerson Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>).
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/markets/equities/25/04/44634431/altimeters-brad-gerstner-builds-up-nvidia-stake-after-trump-tariffs-applauds-semiconductor-exception">Altimeter's Brad Gerstner Builds Up Nvidia Stake After Trump Tariffs, Applauds Semiconductor Exception</a>
<a href="https://www.benzinga.com/trading-ideas/technicals/25/04/44610672/stock-of-the-day-will-johnson-johnson-rally-the-sell-off-may-have-ended">Stock Of The Day: Will Johnson &amp; Johnson Rally? The Sell-Off May Have Ended</a>
<a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44645518/strong-jobs-report-offers-hope-but-will-it-be-enough-to-counter-tariff-turmoil">Strong Jobs Report Offers Hope — But Will It Be Enough To Counter Tariff Turmoil?</a>
The Bears
<a href="https://www.benzinga.com/25/04/44629275/nike-stock-is-tumbling-thursday-heres-why">"Nike Stock Is Tumbling Thursday: Here's Why"</a>, by Adam Eckert, reports that Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) shares fell after Citigroup downgraded the stock to Neutral, citing weak consumer demand in China and concerns about the company's long-term growth strategy.
<a href="https://www.benzinga.com/news/offerings/25/04/44627275/lucid-stock-is-hitting-the-brakes-thursday-whats-driving-the-action">"Lucid Stock Is Hitting The Brakes Thursday: What's Driving The Action"</a>, by Adam Eckert, reveals that Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) shares dropped after the EV maker announced a $1 billion stock offering backed by Saudi Arabia's Public Investment Fund, raising dilution concerns among investors.
<a href="https://www.benzinga.com/news/global/25/04/44632479/retail-stocks-slammed-as-trumps-tariff-plan-sends-shockwaves-through-sector">"Retail Stocks Slammed As Trump's Tariff Plan Sends Shockwaves Through Sector"</a>, by Erica Kollman, reports that the new tariffs triggered a selloff in major retailers including Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), and Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) over fears of rising costs and inflation.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/trading-ideas/technicals/25/04/44645278/coinbase-stock-drops-into-a-death-cross-will-xrp-futures-be-its-comeback-catalyst">Coinbase Stock Drops Into A Death Cross: Will XRP Futures Be Its Comeback Catalyst?</a>
<a href="https://www.benzinga.com/government/regulations/25/04/44647678/nasdaq-100-enters-bear-market-dow-in-correction-territory-traders-await-fed-chair-powells-remarks">Nasdaq 100 Enters Bear Market, Dow In Correction Territory, Traders Await Fed Chair Powell's Remarks</a>
<a href="https://www.benzinga.com/trading-ideas/movers/25/04/44618811/trump-tariffs-trigger-sell-off-on-holding-ast-spacemobile-lululemon-shopify-robinhood-tank">Trump Tariffs Trigger Sell-Off: On Holding, AST SpaceMobile, Lululemon, Shopify, Robinhood Tank</a>
Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.
Image created using artificial intelligence via Midjourney.

CLOU

LCID

MULN

Benzinga Bulls And Bears: Nike, Target, And Walmart Among Hardest-Hit Following Trump's 'Liberation Day' Tariffs

Chamath Palihapitiya, in a post on X, has shared an old video in which renowned investor Warren Buffett has shared his thoughts on the emotional and psychological aspects of stock ownership, emphasizing the importance of staying calm during market volatility.
What Happened: Buffett, known as the ‘Oracle of Omaha', shared his insights on stock ownership, emphasizing emotional and psychological readiness.
&#8220;If you&#8217;re going to do dumb things because your stock goes down, you shouldn&#8217;t own a stock at all," Buffet said during an interview with CNBC.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The GOAT has spoken: No crying in the casino!! <a href="https://t.co/54x0nMhZnr">https://t.co/54x0nMhZnr</a>
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1908326913225220458?ref_src=twsrc%5Etfw">April 5, 2025</a></blockquote>
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Buffett&#8217;s remarks highlight the importance of maintaining composure during market fluctuations. He suggested that some individuals may not be suited for stock ownership due to their emotional responses to market changes.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f1fa;&#x1f1f8; WARREN BUFFET: SOME PEOPLE SHOULD NOT OWN STOCKS AT ALL &quot;Some people should not own stocks at all because they get too upset with price fluctuations. If you&#39;re going to do dumb things because a stock goes down, you shouldn&#39;t own a stock at all.&quot; Source: <a href="https://twitter.com/devorydarkins?ref_src=twsrc%5Etfw">@devorydarkins</a> <a href="https://t.co/VY5LCBldlB">https://t.co/VY5LCBldlB</a> <a href="https://t.co/8R10PHFURJ">pic.twitter.com/8R10PHFURJ</a>
&mdash; Mario Nawfal (@MarioNawfal) <a href="https://twitter.com/MarioNawfal/status/1908384102815822241?ref_src=twsrc%5Etfw">April 5, 2025</a></blockquote>
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This advice comes as a reminder to investors about the significance of psychological preparedness in the stock market.
See Also:<a href="https://www.benzinga.com/media/25/04/44655737/former-microsoft-ceo-steve-ballmer-says-trumps-new-tariffs-could-spark-global-turmoil-hurt-consumers-as-satya-nadella-led-msfts-stock-drops-14-ytd"> Former Microsoft CEO Steve Ballmer Says Trump&#8217;s New Tariffs Could Spark Global Turmoil, Hurt Consumers As Satya Nadella-Led MSFT&#8217;s Stock Drops 14% YTD</a>
Why It Matters: Buffett&#8217;s advice comes at a time when market conditions are particularly unstable. Recently, the U.S. stock market faced a significant downturn due to escalating tensions between the U.S. and China. The ‘Liberation Day' tariffs announced by President Donald Trump led to a<a href="https://www.benzinga.com/markets/equities/25/04/44655719/trump-tariffs-erode-5-trillion-in-market-cap-in-2-days-as-china-retaliates-jerome-powell-warns-of-inflation"> $5 trillion loss in market capitalization</a> for S&amp;P 500 companies over just two days.
Additionally, a Goldman Sachs analyst has warned that these<a href="https://www.benzinga.com/25/04/44652222/trumps-tariffs-may-shift-us-spending-from-goods-to-services-creating-uncertainty-for-ecommerce-and-advertising-industries-analyst-warns"> tariffs could shift U.S. spending</a> from goods to services, creating uncertainty in various sectors. This environment of heightened uncertainty underscores the importance of Buffett&#8217;s advice on emotional readiness and composure in stock ownership.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/04/44655719/trump-tariffs-erode-5-trillion-in-market-cap-in-2-days-as-china-retaliates-jerome-powell-warns-of-inflation">Trump Tariffs Erode $5 Trillion In Market Cap In 2 Days As China Retaliates, Jerome Powell Warns Of Inflation</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

'If You're Going To Do Dumb Things Because Your Stock Goes Down…:' Warren Buffett's Old Warning Gains Steam As US Stocks Wipe Out $5 Trillion After Trump Tariffs

In a lighthearted moment on Friday during Microsoft Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) <a href="https://www.benzinga.com/25/04/44655911/microsoft-worker-disrupts-50th-anniversary-celebration-hurls-accusations-at-ai-ceo-mustafa-suleyman-while-calling-the-tech-giant-war-profiteer">50th anniversary celebrations</a>, AI Copilot, the company&#8217;s artificial intelligence assistant, took the opportunity to roast Bill Gates, Satya Nadella, and Steve Ballmer.
What Happened: As part of a special event, Microsoft CEO Nadella, along with <a href="https://www.benzinga.com/media/25/04/44655737/former-microsoft-ceo-steve-ballmer-says-trumps-new-tariffs-could-spark-global-turmoil-hurt-consumers-as-satya-nadella-led-msfts-stock-drops-14-ytd">former CEOs Gates and Ballmer</a>, sat down for an interview with Copilot, which was designed to celebrate the company&#8217;s legacy.
The conversation kicks off with Satya Nadella prompting, &#8220;wrap it up by asking or maybe roast giving us each an AI roast?&#8221;
Without missing a beat, Microsoft's AI-powered assistant fires back with flair: "Alright, Satya. Let's spice it up."
See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44508019/tesla-and-other-us-robotics-giants-demand-federal-strategy-to-compete-with-chinas-138-billion-push-warn-america-will-lose-the-race-without-it" target="_blank" rel="noreferrer noopener">Tesla And Other US Robotics Giants Demand Federal Strategy To Compete With China's $138 Billion Push — Warn America Will Lose The Race Without It</a>
Copilot kicked things off with Ballmer, known for his boundless energy. "Steve, we&#8217;ll start with you. Your enthusiasm is legendary, but do you ever worry that your energy might short-circuit the AI? I mean, even robots need a coffee break after your pep talks," the Copilot joked.
Ballmer, unfazed, fired back with his trademark bravado: "Come on, dude. If you can&#8217;t handle me, you can&#8217;t handle a huge percentage of the world&#8217;s population. We&#8217;re counting on you."
"Fair point, Steve," the AI conceded.
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Next up was Gates, with Copilot teasing his signature intense expression. "Now, Bill, you&#8217;ve got that signature thoughtful gaze, but do you ever think the AI might feel intimidated by your intense thinking face? I mean, it&#8217;s like it&#8217;s waiting for a blue screen moment," it asked.
Gates, never short on dry wit, replied:&nbsp; "I hope so. I mean, that&#8217;s all I&#8217;ve got left as these AIs get so damn intelligent. It&#8217;s just that gaze and my willingness to criticize that differentiates me."
"And it&#8217;s a formidable gaze indeed, Bill," the AI acknowledged.
Ballmer then jumped in, posing a question to Copilot, saying, "Copilot, would you ever be willing to criticise him?" To which Copilot responded, "Absolutely. Criticism is where growth happens."
Turning to current CEO Nadella, Copilot couldn't resist a final jab — this time about Nadella's well-documented passion for AI.
"Satya, AI seems to be your best buddy," the Copilot said. "But ever worry that your deep passion for AI could one day have it running the show, leaving you to just enjoy the ride?"
Nadella answered with a reference close to his heart — cricket.&nbsp; "Well, the day AI can play like the best cricket player that I enjoy, that&#8217;s the day it can run the show as far as I&#8217;m concerned."
"Touche, Satya. Let&#8217;s see if it can hit a century in cricket, and then we&#8217;ll talk. This has been a blast, gentlemen," the AI concluded, adding, "Here&#8217;s to another 50 years of innovation and adventure. Cheers."
Gates, ever the realist, added a cheeky final thought, "Whatever that means to an AI. Does it drink?"
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Three Microsoft CEOs walk into a room on Microsoft's 50th anniversary … and are interviewed by Copilot! <a href="https://t.co/5E8wHCDV92">pic.twitter.com/5E8wHCDV92</a>
&mdash; Satya Nadella (@satyanadella) <a href="https://twitter.com/satyanadella/status/1908044816677744693?ref_src=twsrc%5Etfw">April 4, 2025</a></blockquote>
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Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China&#8217;s DeepSeek For Driving Efficiency, Stresses Apple&#8217;s ‘Prudent And Deliberate&#8217; Approach Toward Capital Expenditure</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

MSFT

Bill Gates, Satya Nadella, And Steve Ballmer Get Roasted By Microsoft's AI Copilot: 'Let's Spice It Up'

Cathie Wood, CEO of Ark Invest, on Friday warned that President Donald Trump&#8217;s new <a href="https://www.benzinga.com/government/regulations/25/04/44631916/wall-street-wipes-out-2-trillion-apple-eyes-worst-day-since-covid-19-pandemic-oil-plummets-whats-driving-markets-thursday">tariffs could push the U.S. economy</a> into a recession but remained optimistic that innovation and smart policy could lead to a recovery.
What Happened: During an "Employment Friday" session, Wood analyzed the potential effects of Trump's newly imposed tariffs, which include a universal 10% base tariff on all imports and specific country tariffs, including 34% on China and 26% on India.
"Markets are in quite a bit of turmoil," Wood said, addressing the uncertainty created by these measures. She cautioned that these policies could push the U.S. into a recession, adding,&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44508019/tesla-and-other-us-robotics-giants-demand-federal-strategy-to-compete-with-chinas-138-billion-push-warn-america-will-lose-the-race-without-it" target="_blank" rel="noreferrer noopener">Tesla And Other US Robotics Giants Demand Federal Strategy To Compete With China&#8217;s $138 Billion Push — Warn America Will Lose The Race Without It</a>
"We know how he calculated his version of reciprocity, but it doesn&#8217;t seem to make very much sense," she stated.
However, Wood also expressed hope that, with the right strategic policies, such as tax cuts and deregulation, the economy could eventually stabilize and grow. She also pointed to the lessons learned from the 2008 financial crisis, where market recovery began in late 2008 despite widespread financial turmoil.
She shared the video on X and said that the current situation could also be seen as a potential turning point. 
"Innovation gains traction during tough times," she said, referencing how businesses and consumers are often more willing to adapt and change when facing economic uncertainty.
She pointed to technological advances in AI, blockchain, and robotics as key factors that could help drive recovery.
"We are in the eye of the storm," Wood said. "But if President Trump cares about his legacy — which we know he does — or the midterm election campaign season, which will start this fall, then the last leg of this rolling recession is giving him and the Fed more degrees of freedom to pivot."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are in the eye of the storm but, if President Trump cares about his legacy &#8211; which we know he does &#8211; or the midterm election campaign season &#8211; which will start this fall &#8211; then the last leg of this rolling recession is giving him and the Fed more degrees of freedom to pivot. <a href="https://t.co/4oc5JeMLJc">https://t.co/4oc5JeMLJc</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1908359222691049812?ref_src=twsrc%5Etfw">April 5, 2025</a></blockquote>
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Why It Matters: The stock market saw a <a href="https://in.benzinga.com/markets/equities/25/04/44655719/trump-tariffs-erode-5-trillion-in-market-cap-in-2-days-as-china-retaliates-jerome-powell-warns-of-inflation">sharp decline on Friday</a>, with S&amp;P 500 companies shedding $5 trillion in value following Trump&#8217;s announcement of sweeping tariffs on Wednesday.
The Nasdaq officially entered bear market territory, falling more than 20% from its all-time peak.
Federal Reserve Chair Jerome Powell remarked on the <a href="https://www.benzinga.com/government/regulations/25/04/44648681/powell-cites-tariff-driven-inflation-risks-shrugs-off-trumps-call-for-perfect-time-to-cut-rates">surprising scale of Trump's tariffs</a>, warning they could lead to increased inflation and dampen economic growth. At the same time, JP Morgan raised its projection for a recession, estimating a 60% likelihood by the end of the year.
On Friday, former Microsoft CEO Steve Ballmer also voiced concern that newly <a href="https://www.benzinga.com/media/25/04/44655737/former-microsoft-ceo-steve-ballmer-says-trumps-new-tariffs-could-spark-global-turmoil-hurt-consumers-as-satya-nadella-led-msfts-stock-drops-14-ytd">imposed tariffs could spark global</a> instability and hurt consumers.
On the other hand, JPMorgan analyst Thomas Kennedy views the tariffs as a possible <a href="https://in.benzinga.com/25/04/44642302/jim-cramer-slams-trumps-new-tariffs-despite-calling-himself-pro-tariff-labels-it-a-manmade-disaster">driver of major long-term change</a>, arguing that they signal the end of the globalization era.
Read Next:
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<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China's DeepSeek For Driving Efficiency, Stresses Apple's ‘Prudent And Deliberate' Approach Toward Capital Expenditure</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Cathie Wood Weighs In On Trump's 'Tariff Turmoil' And Potential Economic Impact: 'If President Trump Cares About His Legacy…'

Elon Musk&#8217;s SpaceX, Amazon.com Inc. founder Jeff Bezos' Blue Origin, and Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and Lockheed Martin Corp.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)&nbsp;United Launch Alliance&nbsp;(ULA) have been awarded contracts by the U.S. Space Force.
These contracts, valued at $13.5 billion, are intended for launching critical satellites into orbit by 2029.
What Happened: These contracts are part of the Space Force&#8217;s National Security Space Launch program, which will allocate approximately 54 missions through incremental task orders.
SpaceX will handle 28 missions, securing $5.9 billion, while ULA, a joint venture between Boeing and Lockheed Martin, will conduct 19 missions for $5.3 billion.
Blue Origin&nbsp;will manage seven missions, valued at $2.3 billion, with launches planned for later years.
The program recognizes these companies as leading U.S. rocket providers, despite&nbsp;Blue Origin&#8217;s&nbsp;limited launch experience compared to&nbsp;SpaceX&nbsp;and&nbsp;ULA.
SpaceX&nbsp;plans to utilize its Falcon 9 and Falcon Heavy rockets&nbsp;for the Phase 3 missions.
ULA&#8217;s&nbsp;Vulcan rocket, recently certified for national security missions, will also be used.&nbsp;The awards are part of&nbsp;the Phase 3 program&#8217;s &#8220;Lane 2&#8221; track, which involves the Pentagon&#8217;s most challenging and costly missions.
SpaceX&nbsp;is expected to receive the majority of the missions in the program&#8217;s first year, reflecting its high launch rate.
Elon Musk quipped that despite ULA bagging 40% of the Phase 3 missions, they cannot deliver on them yet.
"I hope they succeed, but they aren't there yet."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Winning 60% of the missions may sound generous, but the reality is that all SpaceX competitors combined cannot currently deliver the other 40%! I hope they succeed, but they aren't there yet.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1908278741794455908?ref_src=twsrc%5Etfw">April 4, 2025</a></blockquote>
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Why It Matters: This latest award highlights&nbsp;SpaceX&#8217;s&nbsp;growing influence in securing federal contracts, a trend that has been building over recent years.
In March, it was reported that&nbsp;<a href="https://www.benzinga.com/markets/25/03/44452231/elon-musks-spacex-on-track-to-secure-billions-in-federal-contracts-under-trump-report">SpaceX</a>&nbsp;was on track to secure billions in federal contracts under the Trump administration, with backing for its rocket technology for military cargo transportation.
Meanwhile, international competition is heating up, as Chinese startups, with support from President Xi Jinping, aim to challenge&nbsp;SpaceX&#8217;s dominance by 2030. <a href="https://www.benzinga.com/media/25/03/44451622/chinas-private-space-founder-says-they-can-beat-elon-musks-spacex-by-2030-as-president-xi-jinping-bets-big-on-reusable-rockets-to-break-free-from-us-tech-dependence">China&#8217;s private space sector</a>&nbsp;is making strides with reusable rockets.
Additionally,&nbsp;SpaceX&#8217;s recent success in safely returning NASA astronauts from the International Space Station further underscores its reliability and capability in space missions.
This was demonstrated in March when astronauts returned to Earth in a&nbsp;<a href="https://www.benzinga.com/general/space/25/03/44391875/sunita-williams-butch-wilmore-return-to-earth-on-spacex-dragon-capsule-after-286-days-in-space-nasa-astronauts-to-undergo-health-checks">SpaceX Dragon capsule</a>&nbsp;after an extended mission.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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<li><a href="https://www.benzinga.com/25/04/44655895/treasury-secretary-scott-bessent-says-stock-market-decline-is-due-to-chinas-deepseek-not-trumps-policies-mag-7-pr">Treasury Secretary Scott Bessent Says Stock Market Decline Is Due To China&#8217;s DeepSeek, Not Trump&#8217;s Policies: ‘Mag 7 Problem, Not A MAGA Problem'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: SpaceX

SPACE

General

Elon Musk's SpaceX, Jeff Bezos' Blue Origin, And Boeing-Lockheed's ULA Bag $13.5 Billion Pentagon Launch Contracts

President&nbsp;Donald Trump&nbsp;has enacted sweeping tariffs that could significantly increase the cost of consumer goods, including&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhones. Analysts foresee a potential price surge&nbsp;of 30% to 40% if&nbsp;Apple passes these costs onto consumers.
What Happened: According to a report by Reuters, most iPhones are manufactured in China, which now faces a 54% tariff.
If these tariffs persist, Apple must choose between absorbing the increased costs or transferring them to customers. Apple shares dropped 9.3% on Thursday, marking&nbsp;their worst day since March&nbsp;2020.
Projections from Rosenblatt Securities suggest that Apple&#8217;s iPhone 16, initially priced at $799, could rise to $1,142. The iPhone 16 Pro Max, currently $1,599, might reach nearly $2,300 with a 43% price hike.
Despite some production shifting to Vietnam and India, these countries also face tariffs of 46% and 26%, respectively.
See Also:&nbsp;<a href="https://benzinga.com/media/25/04/44655737/former-microsoft-ceo-steve-ballmer-says-trumps-new-tariffs-could-spark-global-turmoil-hurt-consumers-as-sat" target="_blank" rel="noreferrer noopener">Former Microsoft CEO Steve Ballmer Says Trump&#8217;s New Tariffs Could Spark Global Turmoil, Hurt Consumers As Satya Nadella-Led MSFT&#8217;s Stock Drops 14% YTD</a>
Analysts like Angelo Zino from CFRA Research propose that Apple might delay significant price increases until the iPhone 17 launch in the fall.
Why It Matters: The tariffs imposed by President Trump have far-reaching implications beyond just consumer electronics.
Former Treasury Secretary&nbsp;Larry Summers&nbsp;<a href="https://www.benzinga.com/25/04/44622754/tariffs-are-most-expensive-and-masochistic-could-cost-30-trillion-to-the-economy-erasing-300k-per-family-explains-former-treasury-secretary-larry-summers">described these tariffs</a> as the &#8220;most expensive and masochistic&#8221; decision by the U.S., potentially costing the economy $30 trillion, or about $300,000 per family.
Additionally, the automotive sector is <a href="https://www.benzinga.com/25/03/44119668/trump-tariffs-could-make-your-next-car-12000-more-expensive-expert-says-25-fees-will-have-a-sharp-negative-effect-on-auto-sales">expected to face</a> significant challenges. Experts predict that the tariffs could increase car prices by $12,000, negatively impacting auto sales.
The tariffs, which include a <a href="https://www.benzinga.com/markets/25/02/43423288/trumps-tariffs-are-here-heres-what-will-get-more-expensive-from-canada-china-and-mexico">25% duty on imports</a> from Mexico and most goods from Canada, excluding energy-related items, are part of a broader strategy that could have substantial repercussions for American businesses and consumers.
Price Action: Apple&#8217;s stock has declined nearly 25% year-to-date, closing at $188.38 on Friday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Apple

AAPL

iPhone Prices Could Soar To Almost $2,300 Due To Trump Tariffs If Apple Decides To Pass On The Costs To Buyers

On Friday, a Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) employee disrupted the company's 50th-anniversary event, accusing the tech giant of complicity in war crimes. Microsoft&#8217;s former CEOs Bill Gates, Steve Ballmer, and current CEO Satya Nadella attended the event.
What Happened: During the event, Ibtihal Aboussad, a Microsoft employee, interrupted Microsoft's AI CEO Mustafa Suleyman's speech, shouting, "You are a war profiteer. Stop using AI for genocide. You have blood on your hands. All of Microsoft has blood on its hands."
See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44508019/tesla-and-other-us-robotics-giants-demand-federal-strategy-to-compete-with-chinas-138-billion-push-warn-america-will-lose-the-race-without-it" target="_blank" rel="noreferrer noopener">Tesla And Other US Robotics Giants Demand Federal Strategy To Compete With China&#8217;s $138 Billion Push — Warn America Will Lose The Race Without It</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is the moment a protester interrupted Microsoft&#39;s live Copilot AI event. <a href="https://t.co/QB7TxFCbqu">pic.twitter.com/QB7TxFCbqu</a>
&mdash; Zac Bowden (@zacbowden) <a href="https://twitter.com/zacbowden/status/1908202722760839426?ref_src=twsrc%5Etfw">April 4, 2025</a></blockquote>
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Aboussad, a software engineer with Microsoft's AI Platform org, followed the outburst with an email to Microsoft employees, explaining her actions, <a href="https://www.theverge.com/news/643670/microsoft-employee-protest-50th-annivesary-ai">reported</a> The Verge.
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&nbsp;&#8220;I spoke up today because after learning that my org was powering the genocide of my people in Palestine, I saw no other moral choice,&#8221; Aboussad wrote, condemning the company's alleged involvement in AI technology used by the Israeli military.
Microsoft did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Price Action: Microsoft&#8217;s stock dropped 3.56% on Friday. In the after-hours session, the stock declined an additional 0.025%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga Edge Stock Rankings gives MSFT a growth score of 64.59%. Want to see how it compares to other stocks? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here for the full analysis</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China's DeepSeek For Driving Efficiency, Stresses Apple's ‘Prudent And Deliberate' Approach Toward Capital Expenditure</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Worker Disrupts Microsoft 50th Anniversay Event With Bill Gates, Steve Ballmer, And Satya Nadella Present, Calls Tech Giant 'War Profiteer'

Scott Bessent, the U.S. Treasury Secretary, has attributed the recent stock market decline to the Chinese AI tool DeepSeek rather than President Donald Trump&#8216;s policies.
What Happened: During an interview with conservative commentator Tucker Carlson, Bessent emphasized that the market downturn began with the announcement of DeepSeek.
He stated, &#8220;For everyone who thinks these market declines are all based on the President&#8217;s economic policies, I can tell you that this market decline started with the Chinese AI announcement of DeepSeek.&#8221;
"…What&#8217;s happening with the market I&#8217;d say it&#8217;s more a Mag 7 problem, not a MAGA problem,&#8221; Bessent added. The &#8220;Mag 7&#8221; refers to seven high-performing tech stocks that had previously driven the market higher.
See Also: <a href="https://www.benzinga.com/markets/equities/25/04/44655719/trump-tariffs-erode-5-trillion-in-market-cap-in-2-days-as-china-retaliates-jerome-powell-warns-of-inflation">Trump Tariffs Erode $5 Trillion In Market Cap In 2 Days As China Retaliates, Jerome Powell Warns Of Inflation</a>
Despite a 10% drop in U.S. stocks following Trump&#8217;s new global tariff regime announcement, Bessent downplayed the impact of these policies. He also reiterated the administration&#8217;s commitment to a &#8220;strong dollar&#8221; policy, dismissing claims that tariffs were meant to weaken the dollar.
The dollar has declined nearly 6% against major currencies since Trump&#8217;s inauguration.
Why It Matters: The market&#8217;s reaction to President Trump&#8217;s tariff announcement has been significant. The U.S. markets faced a severe downturn, with S&amp;P 500 companies<a href="https://www.benzinga.com/markets/equities/25/04/44655719/trump-tariffs-erode-5-trillion-in-market-cap-in-2-days-as-china-retaliates-jerome-powell-warns-of-inflation"> losing $5 trillion in value</a> since the tariffs were announced.
This has led to concerns about potential global turmoil and negative impacts on consumers, as highlighted by former Microsoft CEO Steve Ballmer in an interview with CNBC. Ballmer warned that the escalating tariffs could have far-reaching effects on the economy.
Furthermore, a Goldman Sachs analyst has pointed out that Trump&#8217;s<a href="https://www.benzinga.com/25/04/44652222/trumps-tariffs-may-shift-us-spending-from-goods-to-services-creating-uncertainty-for-ecommerce-and-advertising-industries-analyst-warns"> tariffs could shift U.S. spending</a> from goods to services, creating uncertainty for e-commerce and advertising industries. This uncertainty is expected to slow corporate decisions and impact economic activity for the remainder of the year.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Treasury Secretary Scott Bessent Says Stock Market Decline Is Due To China's DeepSeek, Not Trump's Policies: 'Mag 7 Problem, Not A MAGA Problem'

On Friday, former Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Steve Ballmer expressed concern that President Donald Trump&#8217;s <a href="https://in.benzinga.com/news/global/25/04/44631606/trumps-tariff-exemptions-include-semiconductors-pharmaceuticals-oil-and-more">new tariffs could lead</a> to global turmoil and negatively impact consumers, especially as Microsoft's stock faces a 14.03% drop year-to-date.
What Happened: In an <a href="https://www.cnbc.com/2025/04/04/former-microsoft-ceo-steve-ballmer-on-trump-tariffs-not-good.html">interview</a> with CNBC, Ballmer warned that the U.S. government's escalating tariffs would have far-reaching effects on the economy, including significant challenges for consumers and investors.
"As a Microsoft shareholder, this kind of thing is not good," he stated, noting that the new tariffs on imported goods—affecting over 100 countries—would likely create significant disruption, particularly in industries reliant on global trade, like tech.
"I took just enough economics in college — that tariffs are actually going to bring some turmoil," Ballmer added.
Ballmer, who has been involved with Microsoft since its early days, spoke alongside Microsoft co-founder Bill Gates and current CEO Satya Nadella at a celebration marking the company's 50th anniversary.
Ballmer, now the owner of the Los Angeles Clippers, called himself Microsoft&#8217;s largest individual shareholder. A regulatory filing from 2014, the same year he purchased the Clippers for $2 billion, revealed that he owned more than 333 million Microsoft shares at the time.
See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44508019/tesla-and-other-us-robotics-giants-demand-federal-strategy-to-compete-with-chinas-138-billion-push-warn-america-will-lose-the-race-without-it" target="_blank" rel="noreferrer noopener">Tesla And Other US Robotics Giants Demand Federal Strategy To Compete With China's $138 Billion Push — Warn America Will Lose The Race Without It</a>
Why It Matters: Earlier this week, Microsoft reportedly <a href="https://www.benzinga.com/news/global/25/04/44645946/microsoft-halts-data-center-expansions-due-to-semiconductor-tariff-concerns-ai-overcapacity-fears">halted the launch of some</a> of its data center projects, both in the U.S. and internationally, despite committing $80 billion this fiscal year to AI-driven data center infrastructure.
Previously, Jeremy Siegel, a finance professor emeritus at Wharton School, <a href="https://in.benzinga.com/news/25/04/44648557/trumps-tariffs-could-be-worse-than-smoot-hawley-act-jeremy-siegel-tells-cnbc">compared Trump&#8217;s tariff policy</a> to the Smoot-Hawley Tariff Act of 1930, which is often blamed for exacerbating the Great Depression.
Jim Cramer also criticized the tariffs <a href="https://in.benzinga.com/25/04/44642302/jim-cramer-slams-trumps-new-tariffs-despite-calling-himself-pro-tariff-labels-it-a-manmade-disaster">as a &#8220;manmade disaster,&#8221;</a> arguing they are not reciprocal and could cause significant market harm.
Conversely, JPMorgan analyst Thomas Kennedy sees tariffs as a potential catalyst for significant long-term transformation. He suggests that the age of globalization is over.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Trinh Nguyen, senior economist for emerging Asia at Natixis, told CNBC earlier that the <a href="https://www.benzinga.com/markets/equities/25/04/44625309/teacher-would-laugh-and-say-sit-down-top-analyst-compares-trumps-reciprocal-tariff-calculations-to-a-9th-graders-economics-project">U.S. tariff strategy is primarily focused</a> on addressing trade imbalances rather than ensuring parity in tariff or non-tariff measures.
She explained that this approach poses a significant challenge for many Asian nations, especially those with lower income levels, as it demands they purchase more American goods than they export to the U.S., a target that is difficult to achieve in the short term.
Price Action: Microsoft shares fell 3.56% on Friday, closing at $359.84. Over the past 12 months, the stock has declined by 15.44%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Benzinga Edge Stock Rankings gives Microsoft (MSFT) a growth rating of 64.59%. Curious how it stacks up against other companies? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to view the full analysis</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Media

Former Microsoft CEO Steve Ballmer Says Trump's New Tariffs Could Spark Global Turmoil, Hurt Consumers As Satya Nadella-Led MSFT's Stock Drops 14% YTD

The U.S. markets faced a severe downturn as tensions between the U.S. and China escalated following the announcement of<a href="https://www.benzinga.com/25/04/44616760/donald-trump-sets-reciprocal-tariffs-on-key-trade-partners-in-historic-policy-shock"> new tariffs by President</a> Donald Trump.
What Happened: The stock market experienced a significant downturn on Friday, with S&amp;P 500 companies losing $5 trillion in value since Trump announced extensive tariffs on Wednesday, according to a report by Reuters.
The Nasdaq confirmed it was in a bear market, dropping over 20% from its record high. Oil and other commodity prices also saw a sharp decline. This $5 trillion loss marked a record two-day drop for the S&amp;P 500, surpassing the $3.3 trillion loss in March 2020 during the pandemic, as per LSEG data compiled by Reuters.
In response to Trump&#8217;s tariffs, China announced additional levies of 34% on U.S. goods, heightening fears of a global trade war. Trump imposed a 10% tariff on most U.S. imports, with higher levies on several countries, creating the steepest trade barriers in over a century.
See Also: <a href="https://benzinga.com/25/04/44643859/elon-musk-mark-zuckerberg-and-jensen-huang-lose-34-billion-heres-how-much-other-magnificent-7-billionaires-lost-a">Elon Musk, Mark Zuckerberg And Jensen Huang See $34 Billion Wiped Out In A Single Day: Here&#8217;s How Much Other &#8216;Magnificent 7&#8217; Billionaires Lost After Trump&#8217;s Liberation Day</a>
All three major U.S. stock indexes faced their largest weekly percentage losses since March 2020. The<a href="https://www.benzinga.com/25/04/44642131/volatility-gauge-vix-surges-to-an-8-month-high-more-fear-more-opportunity-says-analyst"> Cboe Volatility Index</a> surged to its highest level since April 2020.
Federal Reserve Chair Jerome Powell commented on the unexpected size of Trump&#8217;s tariffs,<a href="https://benzinga.com/government/regulations/25/04/44648681/powell-cites-tariff-driven-inflation-risks-shrugs-off-trumps-call-for-perfect-time-to-cut-rates"> predicting higher inflation</a> and slower growth. Meanwhile, JP Morgan increased its recession forecast to a 60% chance by year-end.
Why It Matters: The announcement of reciprocal tariffs by President Trump on April 2, 2025, marked a significant shift in U.S. trade policy. Described as &#8220;our Declaration of Economic Independence,&#8221; the tariffs aimed to rebalance trade relationships by imposing duties on imports from key partners.
The immediate impact was a massive sell-off in global markets, with<a href="https://www.benzinga.com/government/regulations/25/04/44631916/wall-street-wipes-out-2-trillion-apple-eyes-worst-day-since-covid-19-pandemic-oil-plummets-whats-driving-markets-thursday"> Wall Street erasing $2 trillion</a> in market cap on Thursday. Major companies like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) experienced substantial losses, reflecting investor concerns over the potential for a prolonged trade war.
Despite a strong U.S. labor market, with 228,000 jobs added in March, the fear of escalating trade tensions<a href="https://www.benzinga.com/government/regulations/25/04/44647678/nasdaq-100-enters-bear-market-dow-in-correction-territory-as-traders-anxiously-await-powell-remarks"> overshadowed positive economic indicators</a>. The tariffs have been likened to the Smoot-Hawley Tariff Act of 1930, which worsened the Great Depression, raising concerns about the global economic outlook.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Government

NVDA

Trump Tariffs Erode $5 Trillion In Market Cap In 2 Days As China Retaliates, Jerome Powell Warns Of Inflation

The ongoing negotiations over TikTok's U.S. operations have been delayed after China signaled its opposition to the proposed sale. President Donald Trump has extended the deadline for ByteDance's divestment <a href="https://www.benzinga.com/news/25/04/44645172/china-retaliates-with-34-tariff-on-all-us-imports-urges-trump-to-immediately-cancel-the-tariffs-calls-for-negotiation">due to the tariff hikes</a>.
What Happened: On Friday, President Trump announced an extension of the deadline for ByteDance to sell its U.S. operations of the popular video-sharing app TikTok.
The new deadline, extended by 75 days, was <a href="https://in.benzinga.com/25/03/44350823/oracle-reportedly-in-talks-with-white-house-over-project-texas-20-to-manage-tiktok-amid-security-concerns">initially set to expire</a> on Saturday under a 2024 law that mandates ByteDance sell TikTok's U.S. assets or face a potential ban.
The delay comes after China expressed strong disapproval of the deal, a stance that has now complicated the negotiations, reported Reuters, citing two people familiar with the matter.
See Also: <a href="https://www.benzinga.com/25/04/44641631/trumps-reciprocal-tariffs-threaten-to-derail-big-techs-billion-dollar-ai-infrastructure-plans-analysts-warn-stargate-was-already-unlikely-to-get-to-that-scale">Trump&#8217;s Reciprocal Tariffs Threaten To Derail Big Tech&#8217;s Billion-Dollar AI Infrastructure Plans, Analyst Singles Out This OpenAI-Linked Project As Likely To Get Hit</a>
The deal was reportedly <a href="https://in.benzinga.com/general/social-media/25/03/44563161/trump-says-tiktok-has-a-lot-of-potential-buyers-deal-to-come-before-saturday-deadline">near completion by Wednesday</a>, with the structure set to spin off TikTok&#8217;s U.S. operations into a new company. This new company would have been based in the U.S. and majority-owned by U.S. investors, with ByteDance maintaining a minority stake of less than 20%.
However, as tensions escalated over the U.S.-China trade relations and the recently introduced tariffs, China's opposition halted the deal.
The Chinese government, via the Chinese Embassy in Washington, said, "China has stated its position on TikTok on multiple occasions. China has always respected and protected the legitimate rights and interests of enterprises and opposed practices that violate the basic principles of the market economy."
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
This response followed President Trump's decision to implement a new round of tariffs, increasing duties on <a href="https://www.benzinga.com/news/global/25/04/44628368/trumps-tariffs-prompt-china-to-vow-countermeasures-experts-see-retaliation-likely">Chinese goods to 54%</a>, which directly affected the negotiations.
Trump acknowledged the difficulty in finalizing the deal given the new tariffs but expressed hope that discussions could continue in good faith with China.
He also stated, &#8220;We do not want TikTok to &#8216;go dark,'&#8221; underscoring his intention to find a solution that prevents the app from being banned in the U.S.
Why It Matters: The delay in TikTok's U.S. divestment highlights the ongoing friction between the U.S. and China over tech companies, national security concerns, and trade relations.
TikTok has faced scrutiny from U.S. lawmakers over concerns that the Chinese government could use the app to gather sensitive data on American citizens or influence them through its algorithm.
The <a href="https://in.benzinga.com/25/03/44345433/tiktok-ban-deadline-looms-but-vice-president-jd-vance-confirms-high-level-us-ownership-deal-is-nearly-done">2024 law was passed</a> with bipartisan support to address these concerns, and lawmakers have insisted that the divestment proceed swiftly to protect U.S. users.
<a href="https://www.benzinga.com/trading-ideas/movers/25/04/44645102/applovin-wants-tiktok-but-can-it-beat-amazon-and-onlyfans-to-the-punch">With companies such</a> as Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Andreessen Horowitz already involved in discussions to buy TikTok's U.S. operations, the potential for a resolution remains uncertain as China's approval becomes a critical obstacle.&nbsp;
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

ORCL

TikTok's US Future In Limbo As China Blocks Sale, Trump Grants 75-Day Extension

On Friday, April 4, 2025, Cathie Wood-led Ark Invest made substantial trades involving several prominent companies including Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), CRISPR Therapeutics AG (NGM: CRSP), Beam Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>), UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>), Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), MercadoLibre Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>), and Repare Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPTX#NASDAQ">RPTX</a>).
The COIN Trade
Ark Invest purchased shares of Coinbase Global Inc across multiple ETFs. Ark Invest&#8217;s ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) bought 12,187 shares, while the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) funds added 54,988 and 15,982 shares, respectively.
The total value of the COIN shares bought, calculated from the last closing price of $160.55, amounts to approximately $13.5 million.
The AMZN Trade
Amazon.com Inc also saw significant buying action from Ark Invest. The ARKF, ARKK, and ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) funds bought 9,018, 25,528, and 8,408 shares, respectively.
Given Amazon&#8217;s last closing price of $171.0, the total value of the shares bought is approximately $7.4 million.
The CRSP and BEAM Trades
The ARKK fund bought 69,011 shares of CRISPR Therapeutics AG and 142,713 shares of Beam Therapeutics Inc. Based on the last closing prices of $32.65 and $15.2,7, respectively, the total value of the CRSP and BEAM shares bought is approximately $3.5 million.
The PATH Trade
Ark Invest's ARKK sold 448,505 shares of UiPath, while ARKQ sold 147,575 shares. The ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) fund sold 323,575 shares, and the ARKF fund sold 434,637 shares.
The RBLX, MELI, and RPTX Trades
Ark Invest sold shares of Roblox Corp. and MercadoLibre Inc. across various ETFs. Additionally, the ARKG fund sold 32,613 shares of Repare Therapeutics Inc, valued at approximately $32,613 based on the last closing price of $1.0.
Read Next:
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

ETFs

ARKF

ARKK

ARKQ

ARKW

BEAM

COIN

CRSP

MELI

PATH

RBLX

RPTX

Cathie Wood's Ark Invest Loads Up On Amazon Amid Over 20% Decline In A Year: Offloads UiPath, Roblox

<ul>
<li>Several altcoins crashed in minutes on Binance on Tuesday despite quiet market conditions.</li>
<li>Some have pointed to an exchange update as the cause of the turbulence, but questions remain.</li>
<li>Localized flash crashes are nothing new in crypto.</li>
</ul>
While cryptocurrency market participants <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44603859/bitcoin-braces-for-trump-tariff-announcement-short-term-optimism-has-the-upper-hand-experts-say">have been bracing for volatility all week</a>, users of the largest cryptocurrency exchange by volume, Binance, were still caught off guard when several altcoins crashed on the exchange, costing at least one trader seven figures.
Is an exchange update to blame?
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<h2 class="wp-block-heading">Steep Losses and Lingering Questions</h2>
On Tuesday, several altcoins saw significant price declines in minutes on Binance despite relatively quiet market conditions. The most notable of them, a popular Solana memecoin, Act 1 The Prophecy, or ACT, tanked as much as 52% in 30 minutes from $0.1897 to $0.0904 and, albeit at a slower pace, is still falling at the time of writing on Wednesday, trading at $0.0588.
Besides ACT, DEXE, the token for DeXe, a decentralized autonomous organization, also fell about 35% in 45 minutes, though, unlike ACT, it has recouped some of its initial losses at the time of writing.
Other tokens that recorded significant losses include BANANAS31, HIPPO, KAVA, LUMIA, QUICK, and TST.
Amid the chaos, at least one trader has suffered significant losses. Prominent crypto smart money tracker Lookonchain highlighted CoinGlass data showing that a whale was liquidated for $3.79 million as the price of ACT hit $0.1877.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Binance updated leverage &amp; margin tiers on tokens like <a href="https://twitter.com/search?q=%24ACT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ACT</a> — and a whale got liquidated for $3.79M at $0.1877. Since then, the price of <a href="https://twitter.com/search?q=%24ACT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ACT</a> has plunged more than 50%.<a href="https://t.co/MT0EgNW8ib">https://t.co/MT0EgNW8ib</a> <a href="https://t.co/CRuTR9bwSh">pic.twitter.com/CRuTR9bwSh</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1907037714014515336?ref_src=twsrc%5Etfw">April 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
Many, including Lookonchain, have attributed the recent incident to an update to Binance&#8217;s leverage trading platform, sparking outrage from users. Specifically, on Tuesday, the exchange tweaked the leverage and margin tiers for several pairs, including 1000SATSUSDT, ACTUSDT, PNUTUSDT, NEOUSDT, NEOUSDC, TURBOUSDT, and MEWUSDT.&nbsp;
But the explanation that this update was the problem raises the question of why only ACT was affected in this list and why other tokens like DEXE were impacted.
Binance, for its part, has released the findings of a preliminary investigation, stating, &#8220;there were no market anomalies during the adjustments.&#8221; The exchange did, however, highlight large ACT spot sell orders on the platform around the time that may have sparked volatility under low liquidity conditions.&nbsp;
According to the exchange, three VIP accounts sold ACT tokens worth approximately 514,000 USDT, while one non-VIP account sold 540,000 USDT worth of the token. Still, the exchange dispelled any notion of a coordinated effort to drive down the price of the token by asserting that no single account made significant profits from the incident.
Localized flash crashes like this are nothing new in crypto.
See Also: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
<h2 class="wp-block-heading">A Worrying Trend?</h2>
In October, BGB, the native token of the cryptocurrency exchange Bitget, experienced an isolated flash crash that caused it to lose 50% of its value in 15 minutes. This forced the exchange to promise full compensation for any losses.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BGB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BGB</a> experienced unexpected volatility today due to market conditions, but the price has quickly stabilized.<a href="https://twitter.com/hashtag/Bitget?src=hash&amp;ref_src=twsrc%5Etfw">#Bitget</a> will fully compensate for any asset losses, and will provide a compensation plan within 24 hours, completing the compensation process within 72 hours. Bitget… <a href="https://t.co/KJD2MLO9J6">pic.twitter.com/KJD2MLO9J6</a>
&mdash; Bitget (@bitgetglobal) <a href="https://twitter.com/bitgetglobal/status/1843161739350925628?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
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In March 2024, Bitcoin crashed 87% on BitMEX from over $67,000 to $8,900, but the exchange maintained that the turbulence did not impact its derivatives trading platform.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Bitcoin down to $8,900 on BitMEX?&quot; Well, not quite the whole picture. Yes, we are investigating potential misconduct by traders on our Bitcoin-USDT Spot market (&#x1f440;Did you even know we offer Spot trading?) However, this incident had NO impact on our billion-dollar derivatives… <a href="https://t.co/qWXXnyQxjw">pic.twitter.com/qWXXnyQxjw</a>
&mdash; BitMEX (@BitMEX) <a href="https://twitter.com/BitMEX/status/1770036207424344271?ref_src=twsrc%5Etfw">March 19, 2024</a></blockquote>
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At the height of the 2021 bull market, Binance.US, the U.S. arm of the Binance exchange, experienced a similar incident, with Bitcoin crashing 88% to $8,200.
These incidents highlight the need for robust liquidity while raising questions about the stability and reliability of these cryptocurrency exchange platforms.
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Is A Binance Update To Blame For A Crash In Several Altcoins That Triggered A $3.8M Loss For At Least 1 Trader?

Guidewire Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) has outperformed the market over the past 10 years by 3.2% on an annualized basis producing an average annual return of 12.44%. Currently, Guidewire Software has a market capitalization of $14.62 billion. 
Buying $100 In GWRE: If an investor had bought $100 of GWRE stock 10 years ago, it would be worth $324.79 today based on a price of $174.25 for GWRE at the time of writing.
<h3>Guidewire Software's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743810309_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Here's How Much You Would Have Made Owning Guidewire Software Stock In The Last 10 Years

RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) has outperformed the market over the past 5 years by 1.48% on an annualized basis producing an average annual return of 15.25%. Currently, RTX has a market capitalization of $156.21 billion. 
Buying $100 In RTX: If an investor had bought $100 of RTX stock 5 years ago, it would be worth $204.05 today based on a price of $117.00 for RTX at the time of writing.
<h3>RTX's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743809407_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In RTX 5 Years Ago Would Be Worth Today

Sea (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) has outperformed the market over the past 5 years by 4.95% on an annualized basis producing an average annual return of 18.72%. Currently, Sea has a market capitalization of $61.60 billion. 
Buying $100 In SE: If an investor had bought $100 of SE stock 5 years ago, it would be worth $238.01 today based on a price of $107.25 for SE at the time of writing.
<h3>Sea's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743808508_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Sea Stock In The Last 5 Years

Back in 2010, Elon Musk wasn't the world's richest man or the tech messiah with a rocket company, electric car empire, and social media platform in his grip. He was a newly minted billionaire fighting to keep Tesla alive, rebuilding SpaceX, and—at the time—trying to dodge a <a href="https://www.benzinga.com/news/25/03/44402199/elon-musks-first-ex-wife-says-she-sucked-at-being-his-trophy-wife-and-recalls-him-saying-if-you-were-my-employee-i-would-fire-you">media circus around his divorce</a>.
But when the headlines started claiming he "ran off with an actress," Musk lost his patience.
"Given the choice, I'd rather stick a fork in my hand than write about my personal life," he wrote in a <a href="https://www.businessinsider.com/correcting-the-record-about-my-divorce-2010-7">Business Insider essay</a>. "Unfortunately, it seems that I don't have any other option."
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What followed was a rare, unfiltered look into Musk's private life—something he still mostly avoids today. He wasn't posting memes or fighting culture wars yet. This was about correcting what he called a journalist's "creepy fixation" on his marriage, finances, and the <a href="https://www.benzinga.com/news/25/02/43680809/elon-musks-ex-wife-whom-he-was-engaged-to-only-2-weeks-after-meeting-joked-he-invited-her-to-his-hotel-room-just-to-watch-rocket-videos">woman he was about to marry</a>: British actress Talulah Riley.
Musk made it clear that he filed for divorce from his first wife, Justine, before meeting Riley. "Talulah and I lived on opposite sides of the world and hadn't even known of each other's existence before the <a href="https://www.benzinga.com/personal-finance/25/02/43940599/elon-musks-second-ex-wife-says-he-proposed-to-her-without-a-ring-and-they-shook-hands-on-it-but-later-he-gave-her-3-engagement-rings">marriage with Justine ended</a>," he wrote. The narrative that he abandoned a "devoted wife" to run off with a young actress? "Could not have been more falsely applied."
Still, the <a href="https://www.benzinga.com/news/25/02/43680809/elon-musks-ex-wife-whom-he-was-engaged-to-only-2-weeks-after-meeting-joked-he-invited-her-to-his-hotel-room-just-to-watch-rocket-videos">relationship with Riley</a> did move quickly. Musk was reportedly engaged to her just two weeks after they met. In a 2014 <a href="https://www.cbsnews.com/news/tesla-and-spacex-elon-musks-industrial-empire/">interview with CBS News</a>, Riley confirmed how fast things escalated: "It all happened very fast. We were engaged after, I think, sorta two weeks of knowing each other."
Trending: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
In the Business Insider essay, Musk also took the opportunity to praise his new fiancée. "It is worth mentioning that Talulah, as anyone who knows her would attest, is one of the most kind hearted and gentle people in the world," he wrote.
They married later that year in 2010, just months after meeting. But like much of Musk's life, the relationship didn't follow a straight path. They divorced in 2012, remarried in 2013, and <a href="https://www.benzinga.com/startups/24/01/36561210/elon-musk-married-and-divorced-the-same-woman-twice-paying-her-over-20-million-in-settlements-she-sa">finalized a second divorce in 2016</a>.
He also shot down rumors that he was trying to dodge financial responsibilities. Media outlets had portrayed him as "broke," despite his equity in Tesla and SpaceX. Musk explained that he had funneled nearly all of his cash into saving Tesla from collapse in 2007, leaving just enough to cover his living expenses—which mostly included childcare and supporting Justine's household.
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
His legal bills alone? Around $4 million, or $170,000 a month, most of which went to his ex-wife's lawyers. Under California law, he was required to foot both sides of the bill.
"I never said I was broke," he wrote. "At no point have I ever sought to limit support payments to Justine."
He said he had offered her a post-tax settlement worth roughly $80 million, but she declined, insisting on equity in Tesla and SpaceX. A judge ultimately sided with Musk, upholding the <a href="https://www.benzinga.com/news/25/01/42878599/elon-musk-married-and-divorced-the-same-woman-twice-paid-her-over-20-million-in-settlements-she-refers-to-him-as-perfect-ex-husband">couple's marital agreement</a>.
As for the media coverage, Musk didn't hold back. He called out journalists for repeating inaccuracies without checking court documents. One, in particular, he described as "Silicon Valley's Jayson Blair"—and said that was probably unfair to Blair.
Fifteen years and <a href="https://www.benzinga.com/news/25/02/44050706/elon-musks-neuralink-executive-and-mother-to-3-of-his-13-kids-says-he-was-never-interested-in-doing-anything-for-money-just-for-humanity">several kids later</a>, Musk still doesn't open up much about his personal life. But in 2010, when he felt backed into a corner, he made his case—on his terms, fork and all.
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Elon Musk Said 'I'd Rather Stick a Fork in My Hand' Than Talk About His Life — But He Did, Just to Deny He Abandoned His Wife for a Young Actress

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