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Speaker 1: News when you wanted with Bloomberg News Now i'mde Kleggy.

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Speaker 1: Billionaire Steve Cohen says US growth is likely to slow

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Speaker 1: in the second half of the year as tariffs, tighter

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Speaker 1: immigration laws, and government cost cutting efforts led by Elon

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Speaker 1: Musk weigh on the economy. The Point seventy two asset

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Speaker 1: management founder, speaking at the Future Investment Initiative Institute's summit

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Speaker 1: in Miami Beach on Friday, struck a bearish tone when

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Speaker 1: asked about his outlook. He pointed to sticky inflation, slow

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Speaker 1: in growth, and the possibility of tit for tat tariffs

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Speaker 1: as drags on the US economy. President Donald Trump fire

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Speaker 1: the Chairman of the Joint Chiefs of Staff, Charles Q. Brown,

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Speaker 1: breaking with decades of precedent, as part of a broader

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Speaker 1: purge of senior military leaders chosen by his predecessor, Joe Biden.

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Speaker 1: Trump announced in a Friday night post on truth Social

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Speaker 1: that Brown, the nation's highest ranking military officer, would be replaced.

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Speaker 1: He said he'd nominate retired Air Force Lieutenant General Dan

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Speaker 1: Kane in his stead. Brown's four year term was not

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Speaker 1: set to expire until twenty twenty seven. The US Supreme

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Speaker 1: Court declined for now to let President Trump oust the

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Speaker 1: head of a federal whistleblower agency, letting the officials stay

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Speaker 1: in the job until at least Wednesday. In a splintered decision,

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Speaker 1: the High Court declined to rule directly on Trump's bid

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Speaker 1: to lift a lower court order that is keeping Hampton

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Speaker 1: Dellinger on the job, but the Court said that order

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Speaker 1: could stay in place until it expires on Wednesday, when

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Speaker 1: a federal trial judge will hold a hearing to consider

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Speaker 1: what steps to take next. Stocks had their worst day

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Speaker 1: in two months after weaker than expected economic data and

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Speaker 1: a surge in consumers long run inflation views to the

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Speaker 1: highest since nineteen ninety five. It was a Friday sell

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Speaker 1: off for the US stock market. We get more from

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Speaker 1: Bloomberg's Charlie Pellett.

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Speaker 2: The S and P five hundred was down one point

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Speaker 2: seven percent amid weaker than expected economic data, for the

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Speaker 2: worst session this year. At klissold as chief US strategistic

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Speaker 2: Ned Davis Search, and he says, you've got to keep

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Speaker 2: the selling in perspective.

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Speaker 3: Ten out of eleven sectors are up on the year,

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Speaker 3: and the eleventh consumer distructuring is down. Lasts as one percent.

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Speaker 3: So you know, all the wrangling over the mag seven

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Speaker 3: dominating the market, that's kind of gone away. And so, yeah,

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Speaker 3: the markets had a hiccup and we'll have to just

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Speaker 3: see how it how it takes it. But up to

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Speaker 3: this point, it's managed to take some of those body

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Speaker 3: blows pretty well.

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Speaker 2: On the week, the S and P five hundred index

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Speaker 2: was down one point seven percent In New York. Charlie

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Speaker 2: Pellett's Bloomberg Radio.

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Speaker 1: Wells Fargo Wealth and Investment CIO Darryl Krunk says recent

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Speaker 1: data has spooked investors.

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Speaker 4: Not just today's data, but it's the last couple of weeks.

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Speaker 4: I mean retail sales a week ago today or week

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Speaker 4: the housing data all week starts permits now existing homes today.

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Speaker 4: And I think maybe the services piece which has been

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Speaker 4: the stalwart, right, I mean that if you think about

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Speaker 4: the economy, what's happened is the services and the consumer

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Speaker 4: have driven everything, and manufacturing and housing has been weak.

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Speaker 1: Stocks in COVID vaccine makers Mode, Darna, No Bacs, and

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Speaker 1: Buy and Tech rallied as much as seven percent Friday,

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Speaker 1: but the reason has caused for concern. South China Morning

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Speaker 1: Post reports that a research team in China has found

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Speaker 1: a new bat coronavirus that could risk animal to human transmission,

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Speaker 1: and it has the same human receptor as the virus

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Speaker 1: that causes COVID nineteen. Bloomberg News macro strategist Cameron Cries

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Speaker 1: on the markets reacting to the news of a new

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Speaker 1: COVID like bat virus. Prices are set on the margin, right,

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Speaker 1: So this is a new piece of information. Nobody really

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Speaker 1: knows anything about it because it's just it's just come up.

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Speaker 1: And so the natural impulse, I think is to de

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Speaker 1: risk a little bit first and then figure out what's

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Speaker 1: going to happen later. The Pentagon expects to fire between

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Speaker 1: five and eight percent of its civilian workforce, with the

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Speaker 1: first round of layoffs targeting fifty four hundred probationary workers

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Speaker 1: starting next week. This according to a Defense Department statement

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Speaker 1: Darren Selnik. The actings under Secretary of Defense for Personnel

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Speaker 1: and Readiness set in a statement, the dismissals are meant

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Speaker 1: to produce efficiencies and refocus the department of the President's

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Speaker 1: priorities and restoring readiness in the force endangered by the

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Speaker 1: devastating civil war. Syria's cuisine is central to its culture

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Speaker 1: and crucial to the restoration of its sense of self.

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Speaker 1: To gauge Syria's recovery, look to its fabled food scene.

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Speaker 1: You can read all about it in Bloomberg's weekend edition,

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Speaker 1: exploring the places where finance, life and culture meet. Find

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Speaker 1: it on bloomberg dot Com and the Bloomberg Business app.

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Speaker 1: The Friday numbers on Wall Street the Down lost seven

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Speaker 1: forty eight, NASDAK drop four thirty eight, the S and

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Speaker 1: P fell one oh four. The ten year treasury yield

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Speaker 1: at four point four to three percent, the two year

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Speaker 1: yield at four point two percent. That's news when you

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Speaker 1: want it with Bloomberg News. Now I made klengy.

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Speaker 2: This is Bloomberg