SaveSave story

Dow drops 500 points after Trump's tariff announcement

Photo by BRYAN R. SMITH/AFP/Getty Images

The Dow was trading around 500 points lower just hours after President Trump announced new tariffs of 25% for steel and 10% for aluminum. The S&P 500 and the Nasdaq are also trading about 1.5% lower.

Why it matters: Per Axios' Jonathan Swan, "[t]hese tariffs have the potential to roil markets and affect relationships with allies." The only clear winners at the moment are steel stocks, which were trading significantly higher as of 3 pm ET.

Go deeper: Trump declares his trade war.

Haley Britzky 8 hours ago
SaveSave story

Zuckerberg happy to testify if it is "the right thing to do”

A portrait of Facebook founder Mark Zuckerberg
A portrait of Facebook founder Mark Zuckerberg. Photo: Jaap Arriens / NurPhoto via Getty Images

Facebook CEO Mark Zuckerberg said he would be "happy" to testify before Congress if it was "the right thing to do," in an interview with CNN's Laurie Segall.

Why it matters: Facebook has been under the microscope lately for what Zuckerberg called earlier today the "Cambridge Analytica situation." Zuckerberg said if he was the "person...who will have the most knowledge," then he'd be the one to testify in the face of Facebook's data-collection situation.

Bob Herman 7 hours ago
SaveSave story

Jamie Dimon's $141 million payday

JPMorgan Chase CEO Jamie Dimon speaks at an event.
JPMorgan Chase CEO Jamie Dimon speaks at an event in 2016. Photo: Win McNamee / Getty Images

JPMorgan Chase CEO Jamie Dimon took home more than $141 million in 2017 after calculating the actual realized value of his stock, according to a preliminary draft of the banking giant's annual proxy document. Dimon's compensation is calculated as $28.3 million when using the estimated fair value of his stock. But that compensation figure doesn't matter as much because it doesn't reflect what executives report in their personal income tax filings.

Why it matters: It's the highest pay package of any active corporate CEO from 2017, based on Securities and Exchange Commission documents that have been filed thus far. Dimon's compensation is also 1,818 times higher than what the average JPMorgan employee makes.