*TRUMP ON STOCK MARKET DROP: I HAVEN'T SEEN IT

The White House has clarified that if you add up all of the tariffs the president has put on China at various times since January 20, the US is now tariffing China at a 145% rate.

*S&P 500 EXTENDS DECLINE TO MORE THAN 4%, NASDAQ 100 SLUMPS 4.5%

Markets look like a toddler crayoning on the wall... (this is the Nasdaq)

Today: -Klarna and Stubhub delay IPOs after Trump tariffs (WSJ) -Nintendo delays pre-orders for the new Switch due to tariff concerns -NASDAQ 100 set to enter bear market after falling 20 percent from peak

Federal government employment ex-Postal Service fell by only 3,600 jobs in March, after 7,000 in February. Doge cuts haven't hit yet. Also, BLS release pointedly says "Employees on paid leave or receiving ongoing severance pay are counted as employed in the establishment survey."