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A former aide to two House Speakers is warning that President Donald Trump will need a hefty spin to handle the fallout of the implementation of tariffs on goods from countries around the globe.

For the second day in a row, the U.S. Dow Jones sank below 40,000 for the first time in nearly a year amid fears about a possible trade war, said MSNBC's Jose Diaz-Balart on Friday.

The labor market added far more jobs than expected last month, but former labor secretary Robert Reich warned that Americans could be in for a "crude and rude shock" in the coming weeks.

The U.S. added 228,000 jobs last month, far more than the 140,000 that economists had expected, and that number was nearly double the 117,000 roles added in February, but the former labor secretary under Bill Clinton told CNN's "The Situation Room" that president Donald Trump's tariffs would have far-ranging consequences for the economy.

NBC business analyst Christine Romans smirked and took a dim view of a Donald Trump boast on Friday morning that now was a good time for investors to sink more money in the stock market while it was still experiencing a meltdown for the third day in a row.

Speaking with "Morning Joe" co-hosts Joe Scarborough and Jonathan Lemire, she was alerted to a Trump Truth Social post where the president wrote, "TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE. THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!"

Asked for her reaction, specifically to Trump's boast his policies would "never change," she replied, "Well, that means they think that he's not going to negotiate, even though yesterday he said maybe he would negotiate."

ALSO READ:'Not much I can do': GOP senator gives up fight against Trump's tariffs

"So again, this is all sort of Donald Trump 'Art of the Deal' stuff. In terms of always being rich, I mean $2 trillion stock market value was lost yesterday and you're going to lose another big chunk of it today so value is being lost as we speak here."

"The question is, the White House, you know the White House is talking about the 10-year note yield is kind of looking at that, not the stock market," she observed before adding, "They've really tried to decouple themselves from the stock market."

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President Donald Trump left Washington on Thursday to fly back to Mar-a-Lago for the weekend. By Friday morning, the stock market was in freefall for a second day in a row.

From his Truth Social page, Trump posted a video from a person going by the handle @AmericanPapaBear, claiming Trump is purposely tanking the stock market so he can get the Federal Reserve to lower interest rates.

Donald Trump took time out from preparing for a golf tournament in his home state of Florida to lash out at Fed Chairman Jerome Powell on Friday morning.

The president, who has been battling terrible press reports since his "Liberation Day" announcement of sweeping international tariffs, appealed to Powell to drop interest rates which would likely take some heat off the White House.

As part of his busy morning on Truth Social, he wrote that Powell has an opportunity to "change his image" by listening to the administration's demands.

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"This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates," he wrote. "He is always 'late,' but he could now change his image, and quickly. Energy prices are down, Interest Rates are down, Inflation is down, even Eggs are down 69%, and Jobs are UP, all within two months - A BIG WIN for America."

"CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!" he then demanded.

In the wake of Donald Trump's highly controversial decision to put in place a wall of international tariffs that has roiled the business world, the president's Treasury Secretary Scott Bessent is reportedly looking to move on from his current job slightly more than two months after being sworn in.

That is according to MSNBC host and former Wall Street executive Stephanie Ruhle, who appeared on "Morning Joe" on Friday.

Speaking with co-host Jonathan Lemire, Ruhle first pointed out that she has been unable to find people who support Trump's decision to begin a trade war that is causing worldwide economic chaos.

ALSO READ:'Not much I can do': GOP senator gives up fight against Trump's tariffs

"I have reached out to so many people in the Trump universe, business people who have supported Trump, who have supported President Trump and, Jonathan, I cannot find one single investor with one single argument that makes sense for these tariffs. All I'm getting is, well, this is what the president thinks. This is what he's always wanted to do."

Turning to Bessent, a billionaire who she said has had trouble defending the tariffs and seems at a loss to explain to reporters how things will pan out, Ruhle pointed out that he is not close to the president and remains an outsider in the administration.

"My sources say that Scott Bessent is kind of the odd man out here and, in the inner circle that Trump has, he's not even close to Scott Bessent or listening to him," she told host Joe Scarborough. "Some have said to me, he's looking for an exit door to try to get himself to the Fed, because in the last few days he's really hurting his own credibility and history in the markets."

"Those have said this man actually understands how the markets work and, what's happening right now, is only going to hurt markets," she added. "And even for Scott Bessent to say a few weeks ago, you know, getting cheap goods fast is 'not part of the American dream.' No, it's not part of the American dream, but it's part of the way Americans live, especially people who are economically vulnerable. They don't have the option to say, 'No, I'd like higher things that cost more.' They need low cost things because they don't make that much money."

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A financial journalist laid out a "disaster scenario" that could be triggered by president Donald Trump's sweeping tariffs.

The president announced double-digit tariffs against nearly 100 nations, and CNN's global economic analyst Rana Foroohar warned that this week's stock market sell-off could be the beginning of a worldwide crisis.

Donald Trump's economic policies have damaged the U.S. economy in "historically unprecedented" ways, according to CNN's Harry Enten.

The president announced a wave of tariffs that quickly triggered a stock market sell-off, leading to the worst week since the early days of the Covid-19 pandemic, and Enten compared the financial wipeout to past plunges.

The Chinese government on Friday responded to U.S. President Donald Trump's sweeping new tariffs with 34% import duties on all American goods beginning next week, intensifying global blowback against the White House and accelerating a worldwide financial market tailspin.

China's tariffs on U.S. imports, which match the tariffs the Trump administration moved this week to impose on Chinese goods, are set to take effect on April 10. Trump's 34% tariffs on Chinese imports come on top of the 20% tariffs the U.S. president imposed earlier this year.

Donald Trump's treasury secretary's inability to answer questions about the president's sweeping tariffs announcement on Tuesday drew gales of laughter from the hosts on MSNBC's "Morning Joe" on Friday morning.

The segment began with a Comedy Central "The Daily Show" montage of clips of billionaire-turned-Trump cabinet member Scott Bessent answering, "We're going to wait and see how this plays out," "I just don't know if there are going to be negotiations," and "I don't know," when pressed by reporters on what Trump is doing.

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That led Comedy Central's Micheal Kosta to joke, "I have a question: do you know anything? Why are you out there doing interviews?" before doing a hilarious impression of the hapless Treasury secretary.

Cutting back MSNBC's Joe Scarborough and Jonathan Lemire, the two laughed as Scarborough quipped, "Treasury Secretary Scott Bessent not completely comfortable, I think, with this whole tariff thing," before turning to the release of the most recent jobs numbers.

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