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ECONOMY

Bear Market

Wall Street got mauled last week.

President Trump’s fresh batch of tariffs—and China’s announcement of a 34% retaliatory tariff on all U.S. products—spooked investors. The Nasdaq slipped into bear territory Thursday (meaning it’s down 20% from its peak); the S&P 500 posted its worst week since 2020; and the Dow fell more than 1,500 points on two consecutive days for the first time ever. In total, over $6T in value was lost.

Fed Chairman Powell said the tariffs’ economic impacts will likely be “significantly larger than expected” and cause “at least a temporary rise in inflation.” For now, the Fed is maintaining its wait-and-see approach on interest rates; Trump urged Powell to “stop playing politics” and cut rates immediately.

Meanwhile, the U.S. added a better-than-expected 228,000 jobs in March; unemployment ticked up to 4.2% (from 4.1%).

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RADIATE HOPE
No matter what happens to the economy, God will remain in control. In the midst of uncertainty on earth, set your hope on the abundance we will enjoy with Christ when he comes.

“Blessed be the God and Father of our Lord Jesus Christ. Because of his great mercy he has given us new birth into a living hope through the resurrection of Jesus Christ from the dead and into an inheritance that is imperishable, undefiled, and unfading, kept in heaven for you.”
1 Peter 1:3-4 (CSB) (read full passage)

U.S. NEWS

Demonstrations and Downsizing

Saturday saw mass protests against President Trump and Elon Musk.

Organizers say “millions” attended at least 1,300 protests held across every state. The rallies were part of the “Hands Off” movement—a “nationwide mobilization” against the “brazen power grab” of Trump’s second-term policies and Musk’s government involvement. Sign-laden demonstrators voiced opposition to things like DOGE’s job cuts, the White House’s immigration crackdown, and federal program funding cuts.

Republicans have largely applauded those efforts, which are continuing at a rapid pace.

Last week, the Trump administration threatened federal funding for Harvard and Brown Universities over allegations of antisemitism, and cut more federal jobs: the IRS began laying off 25% of its 100,000-person workforce, and President Trump fired the top two officials at the National Security Agency.

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ABOVE ALL, LOVE
We represent Christ well when we are not only kind to people we agree with but also to people we believe are wrong, going out of our way to serve and care for them. This is what it means to “love your enemies.”

“But I tell you, love your enemies and pray for those who persecute you, so that you may be children of your Father in heaven.” 
Matthew 5:44-45 (CSB) (read full passage)

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SPORTS

April Madness

Celebrations rang out from the ice to the hardwood over the weekend. 

Hockey history was made yesterday when Washington Capitals star Alex Ovechkin chased down Wayne Gretzky’s 31-year-old record to become the NHL’s all-time leading scorer. Ovechkin snagged his record-setting 895th goal on a power play against the New York Islanders… with Gretzky in attendance, cheering him on. (Watch the moment, including Ovechkin’s celebratory belly flop.)

Hours later, UConn returned to the top of the women’s hoops hierarchy, knocking off defending champs South Carolina 82-59 and securing the NCAA Women’s Basketball title for a record 12th time. 

Eager to hoist their own trophy are the Florida Gators (who beat Auburn 79-73 in the Final Four) and Houston Cougars (who clawed past Duke 70-67); they’ll go head-to-head tonight to claim the Men’s title. 

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ETERNAL PERSPECTIVE
Sports can teach us a lot about everyday life—the value of teamwork, perseverance, and even loyalty as a fan. The commitment of athletes to their sport encourages us to press on as we seek to win an “imperishable crown” at the end of our faith journey, and the joy of fans for their team can give us a foretaste of the greatest celebration in history. 

“Now everyone who competes exercises self-control in everything. They do it to receive a perishable crown, but we an imperishable crown.”
1 Corinthians 9:25 (CSB) (read full passage)

The Senate burned the midnight oil Friday into Saturday. In a 51-48 vote, the Republican-led Senate approved a revised framework for a sweeping budget plan covering critical aspects of President Trump’s domestic agenda, like defense, energy, immigration, and tax policy. Senate Majority Leader Thune (R-SD) said it’s the first step toward making 2017-era tax cuts permanent and boosting border and energy security.
 

Nintendo is switchin’ things up. The company officially revealed the Nintendo Switch 2, a new-and-improved version of the 2017 original. It’s set to release June 5, though U.S.-based preorders have been delayed indefinitely to “assess the potential impact of tariffs.” Switch 2 has big shoes to fill: the original Switch is Nintendo’s second-best-selling console, trailing only the DS.
 

TikTok’s timer got reset. After President Trump announced new global tariffs—including an additional 34% tariff on China—Beijing reportedly blocked a nearing deal. ByteDance told the White House that China won’t approve a sale until trade negotiations happen. On Friday, Trump gave the parent company another 75 days (until June 19) to broker a deal to bring TikTok under American ownership.
 

South Korea’s president is officially officially out. The Constitutional Court unanimously upheld the impeachment of Yoon Suk Yeol, who was suspended in December after his failed attempt to impose martial law. Friday’s ruling sparked celebrations from Yoon’s critics and tears from supporters across Seoul. A snap election to replace him will happen by June 3.
 

Flooding continues to swamp the South and Midwest. After days of heavy rain, communities from Texas to Ohio have scrambled to deploy sandbags, close roads, and shut off power and gas as the region faces historic flooding. At least 18 people have died since the slow-moving weather system—which spawned 90 tornadoes across 10 states—began last Wednesday.

WHIPPED CREAM ON TOP

Possibly the wildest bus ride on earth…

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