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  Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.
  
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  As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.
  
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  Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.
  
  “I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.
  
  Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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  “What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”
  
  Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.
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• Comment Link Martedì, 15 Aprile 2025 17:47 posted by BobbyRouse

  A federal judge on Tuesday afternoon temporarily blocked part of the Trump administration’s plans to freeze all federal aid, a policy that unleashed confusion and worry from charities and educators even as the White House said it was not as sweeping an order as it appeared.
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  The short-term pause issued by US District Judge Loren L. AliKhan prevents the administration from carrying through with its plans to freeze funding for “open awards” already granted by the federal government through at least 5 p.m. ET Monday, February 3.
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  The judge’s administrative stay is “a way of preserving the status quo” while she considers the challenge brought by a group of non-profits to the White House plans, AliKhan said.
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  “The government doesn’t know the full scope of the programs that are going to be subject to the pause,” AliKhan said after pressing an attorney for the Justice Department on what programs the freeze would apply to. AliKhan is expected to consider a longer-term pause on the policy early next week.
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  The White House budget office had ordered the pause on federal grants and loans, according to an internal memorandum sent Monday.
  
  Federal agencies “must temporarily pause all activities related to obligation or disbursement of all Federal financial assistance,” White House Office of Management and Budget acting director Matthew Vaeth said in the memorandum, a copy of which was obtained by CNN, citing administration priorities listed in past executive orders.
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