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Tech Jitters and Fed Uncertainty Weigh on Markets

U.S. stocks slipped as a pivotal week began, with investors bracing for a wave of Big Tech earnings and the Federal Reserve’s upcoming policy decision. The Dow, S&P 500, and Nasdaq all edged lower, reflecting a cautious mood across markets. The pullback follows a choppy stretch for equities, as major indexes have struggled to regain momentum amid shifting expectations for interest‑rate cuts and ongoing geopolitical concerns. Tech stocks, in particular, have been under pressure after consecutive weekly declines, raising the stakes for earnings reports from industry giants. Apple, Microsoft, Meta, and Tesla are all set to report in the coming days, and their results could determine whether the sector reclaims leadership or continues to drag on broader market performance. With the Fed meeting approaching, traders are looking for clarity on the central bank’s rate‑cut timeline. Until then, many appear content to stay on the sidelines as uncertainty hangs over the week ahead.
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Trump and Musk Unleash Bold Plan to Reshape Federal Workforce

In a dramatic move aimed at curbing government waste and streamlining operations, President Donald Trump has signed an executive order directing U.S. agencies to prepare for large-scale staff cuts. Standing shoulder to shoulder with billionaire Elon Musk—who now plays a pivotal role through his Department of Government Efficiency (DOGE)—Trump’s order mandates that agencies reduce their workforce and reassess their operational needs.

Under the new directive, each federal agency must adopt a hiring rule that permits the addition of only one new employee for every four that leave. The order also requires agency heads to collaborate with DOGE staff to develop “data-driven” plans for identifying redundant positions and potentially eliminating entire functions that do not serve critical needs. Exemptions are granted for roles deemed vital to national security, public safety, law enforcement, and immigration enforcement.

Musk, a vocal critic of what he calls an “unelected, unconstitutional fourth branch” of government, defended the initiative during a joint news conference in the Oval Office. “The people voted for major government reform, and that’s what they are going to get,” he asserted, emphasizing that his team’s involvement is designed to root out inefficiencies and excessive spending in federal operations. Trump echoed this sentiment, arguing that the move is necessary to make government more accountable and aligned with the will of the people.

While administration officials predict significant cost savings through the proposed cuts, critics have raised concerns over the potential impact on federal workers—many of whom are protected by union contracts and civil service laws—as well as the possibility of protracted legal battles. Nonetheless, the president dismissed these warnings, insisting that the reforms are essential to restoring fiscal discipline and ensuring that taxpayer dollars are spent wisely.

As federal agencies now face the challenge of implementing these sweeping changes, the coming weeks are expected to see intense negotiations between administration officials, labor representatives, and legal experts. The success of this bold overhaul remains to be seen, but for now, Trump and Musk appear determined to transform the federal workforce in what they describe as a long-overdue modernization effort.

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