The Trump administration denied Republican Gov. Sarah Huckabee Sanders’ request for individual and public assistance following an outbreak of severe storms and tornadoes that also affected neighboring Mississippi and Missouri and left more than 40 people dead.
The denial follows executive orders signed by Trump seeking to shift the burden of disaster response and recovery from the federal government onto states, as extreme weather becomes increasingly destructive and costly in a warming world. It is unclear how states will fill the financial void, which for decades has been viewed as a federal responsibility given the wide-reaching, multi-state nature of disasters.

"Schwab claimed that the amount of cash in its robo-adviser portfolios was decided by sophisticated economic algorithms meant to optimize its clients’ returns when in reality it was decided by how much money the company wanted to make," said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. "Schwab’s conduct was egregious and today’s action sends a clear message to advisers that they need to be transparent with clients about hidden fees and how such fees affect clients’ returns."

China has reportedly ordered its airlines not to take any further deliveries of Boeing jets, the latest move in its tit-for-tat trade war with the US. The Chinese government has asked carriers to stop purchases of aircraft-related equipment and parts from American companies, according to a Bloomberg News article, which cited people familiar with the matter.
The order was reported to have come after the country raised its retaliatory tariffs on US goods to 125% on Friday in response to Donald Trump’s levies on Chinese imports totaling 145%. Beijing was also said to be considering ways to support airlines that lease Boeing jets and are facing higher costs.
About 10 Boeing 737 Max jets are being prepared to join Chinese airlines, and if delivery paperwork and payment on some of them were completed before Chinese ”reciprocal” tariffs came into effect, the planes may be allowed to enter the country, sources told Bloomberg.
The restriction marks a serious blow for Boeing and other manufacturers trying to navigate the escalating trade war between the world’s two biggest economies.
The group chief executive of the budget airline Ryanair, Michael O’Leary, has said his company could delay taking deliveries of Boeing aircraft if they become more expensive. He told the Financial Times that Ryanair was due to receive a further 25 aircraft from Boeing from August but would not need the planes until around March or April 2026. “We might delay them and hope that common sense will prevail,” O’Leary said.
Shares in Boeing have been buffeted by worries about the impact of trade tariffs, as well as complaints from some shareholders that the company has underinvested in its engineering. The company has lost 7% of its market value since the start of the year, and in March its chief financial officer, Brian West, said tariffs could hit availability of parts from its suppliers.
The rival European plane manufacturer Airbus said on Tuesday that it was watching the evolving situation on trade tariffs. Its chief executive, Guillaume Faury, told shareholders the company was having problems receiving components from the American supplier Spirit AeroSystems, which was weighing on the production of its A350 and A220 jetliners.
Boeing was approached for comment.

Managing investment risk has never been more important. Award-winning financial advisor Mark Cortazzo shares his strategies for avoiding, transferring and mitigating market risk to avoid permanent losses.

Worrisome possibility:
„.. Foreigners own $8.5trn of government debt, a bit under a third of the total; more than half of that is held by private investors, who cannot be cajoled by diplomacy or threatened with tariffs. America must refinance $9trn of debt over the next year. If demand for Treasuries weakens, the impact will quickly feed through to the budget, which, owing to high debts and short maturities, is sensitive to interest rates.
What would Congress do then? When markets collapsed during the global financial crisis and the pandemic, it acted forcefully. But those crises required it to spend, not to impose cuts. This time it would need to take an axe to entitlements and raise taxes quickly. You need only consider the make-up of Congress and the White House to see that the markets might have to impose a lot of pain before the government could agree on what to do. As America dithered, the shock could spread from Treasuries to the rest of the financial system, bringing defaults and hedge-fund blow-ups. That is the sort of behaviour you would expect in an emerging market……“

A currency is only as good as the government that backs it. The longer America’s political system fails to grapple with its deficits or flirts with chaotic or discriminatory rules, the more likely will be a once-in-a-generation upheaval that pushes the global financial system into the unknown. Wherever things settled, the greenback’s diminished role would be a tragedy for America. True, some exporters would benefit from a weaker currency. But the dollar’s primacy reduces the cost of capital for everyone, from first-time homebuyers to blue-chip firms.
Biting the hand that funds
The world would suffer because the dollar has no equal—just pale imitations. The euro is backed by a big economy, but the euro zone does not produce enough safe assets. Switzerland is safe but small. Japan is big, but has its own vast debts. Gold and cryptocurrencies lack state backing. As investors tried one asset and then another, the hunt for safety could bring about destabilising booms and busts. The dollar system is not perfect, but it provides the stable ground on which today’s globalised economy is built. When investors doubt America’s creditworthiness, those foundations are in danger of cracking.

Two comments.
Volatility creates opportunities.
Injecting daily politics as a basis for investment analysis isn't a good choice.

Heightened volatility due to massive uncertainty increases the likelihood of a serious

"accident."
It's unwise to ignore the ramifications of executive branch actions which forcefully inject politics
into the business/economic realms.

The U.S. dollar is an early casualty of President Donald Trump’s us-against-the-world trade war. The dollar has lost almost 10 percent of its value since Inauguration Day, with more than half of decline coming this month after the president’s decision to lift taxes on imported goods to their highest level since 1909.
The weaker dollar — now near a three-year low against the euro — is bad news for Americans traveling abroad and could also aggravate inflation by making foreign goods more expensive. U.S. exporters, however, should gain.
“The administration’s approach to policy and its lack of transparency in terms of motivations have all led to a distinct sense of unease in financial markets,” said David Page, head of macro research for Axa Investment Managers in London, which manages $1 trillion in investments. “It doesn’t look like what we have been used to in terms of well-thought-out policy.”
Those concerns last week sent investors fleeing from the dollar and U.S. government securities, historically a haven during financial crises. This week, after markets quieted, Treasury Secretary Scott Bessent dismissed those concerns. In an interview Monday with Bloomberg Television, he said there was “no evidence” that foreign investors were abandoning U.S. assets, saying they had been active participants in recent auctions of government debt.
“The dollar is incredibly entrenched in the global financial system in ways that no other currency is. Importing, exporting, borrowing, hedging, using the dollar for collateral, all of these things that major actors in the international economic system use the dollar for, would be so difficult to modify,” said Paul Blustein, author of “King Dollar: The Past and Future of the World’s Dominant Currency.”
As the president’s enthusiasm for tariffs made the United States look riskier, investments in other markets became more attractive. In Europe, the German government last month abandoned a constitutional borrowing limit and made plans to spend heavily to spur the economy and fund a military buildup, raising growth prospects. China encouraged higher consumer spending to better balance its export-heavy economic model. And Japanese 10-year government debt offered its highest return in 15 years.
Recent gains by the Swiss franc, the euro, Japanese yen and gold, which is up more than 7 percent in the past five trading days, support the idea that investors are looking for new ways to ride out the turmoil unleashed by the president.
Yet for major institutional investors, giving up on the dollar is not feasible. The $28 trillion Treasury market is the world’s largest and most liquid, meaning that investors can quickly sell their holdings if they need to raise cash. In contrast, there are only $1.4 trillion in German government bonds outstanding. Alternative currencies likewise fall short. The Chinese yuan is assuming a greater role in global commerce. But the Chinese government does not allow capital to move freely across its borders, meaning investors could find their funds trapped.
The euro also is handicapped. Nations that use the euro share a central bank in Frankfurt, which governs the zone’s monetary policy. But they lack a common fiscal authority akin to the U.S. Treasury and a common bond market.
Even if the era of global dollar supremacy survives the trade war, the currency’s short-term outlook might be poor. Trump’s imposition of widespread tariffs has made a recession more likely, economists say, which could hurt stock prices and prompt the Federal Reserve to cut interest rates. That would make investing in dollar-based assets less appealing.

It's interesting when people use pretzel logic in an attempt to somehow justify Trump's terrible tariffs.
The tariff "plan" is clearly absurd (e.g., rate calculations, taxing uninhabited islands)
and it was implemented haphazardly. Communication from administration officials regarding tariffs
was often either nonexistant or contradictory. Most credible economists and financial professionals
believe the end result will be higher inflation, increased unemployment, and lower GDP.
Regardless of how some people "spin" these tariffs, it was an extremely imprudent act
which heightened global financial risks and alienated major US allies.
The art of reasoning is an art which often take decades to acquire.