On today's podcast:

1) President Donald Trump said the US would respond to the European Union’s countermeasures against his new 25% tariffs on steel and aluminum, raising the risk of further escalation in his global trade war.

2) Senate Democratic leader Chuck Schumer said his party would block a Republican spending bill to avert a government shutdown on Saturday and urged the GOP to accept a Democratic plan to provide funding through April 11 instead.

3) The worst of the US equity correction may be over, with credit markets indicating a lower risk of recession, according to JPMorgan Chase & Co.

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On today's podcast:

1) The European Union launched countermeasures on Wednesday against new US metals tariffs, with plans to impose its own duties on €26 billion ($28.3 billion) worth of American goods.

2) Less than two weeks after Donald Trump lambasted Ukrainian President Volodymyr Zelenskiy in an Oval Office confrontation, the US president put the pressure on Russia to accept a ceasefire agreement hammered out with Zelenskiy’s advisers.

3) House Republicans passed legislation to keep the US government open past a Saturday shutdown deadline, daring moderate Democrats in the Senate to block the measure over objections it fails to constrain Elon Musk’s cost-cutting crusade.

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Bloomberg's Nathan Hager breaks down the recent market volatility with Morgan Stanley's Mike Wilson and Bloomberg Opinion contributor Mohamed El-Erian.

Global stocks steadied from a selloff and US stock futures signaled a Wall Street bounce, as Bloomberg News reported President Donald Trump will meet with top business executives later in the day. Contracts for the Nasdaq 100 rose 0.5% after the index’s deepest slump since 2022, while those on the S&P 500 climbed 0.4%. Tesla Inc. shares rose in premarket trading after Monday’s 15% slide while other tech names including Nvidia Corp. also edged higher. In Europe, the Stoxx 600 index was steady while earlier, Asian shares bounced off an intraday five-week low.There was relief for other risk assets too, as Bitcoin stabilized after a five-day selloff and oil prices notched a small bounce from Monday’s drop. However, concerns over the once unstoppable resilience of the US economy continue to support Treasury markets, with 10-year yields edging lower again on Tuesday. The dollar index slid 0.3%.

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