Fox News' usually friendly coverage of President Donald Trump took a sharp turn when White House correspondent Peter Doocy pressed the administration on economic concerns not once but three times in a single day.



<h2 class="wp-block-heading">Market Drop Raises Questions</h2>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Peter Doocy zinged President Donald Trump over the cratering stock market with a brutal wisecrack to Trump White House Press Secretary Karoline Leavitt. <a href="https://t.co/aPS6bumNBn">pic.twitter.com/aPS6bumNBn</a>&mdash; Mediaite (@Mediaite) <a href="https://twitter.com/Mediaite/status/1899596304851865955?ref_src=twsrc%5Etfw">March 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



During a White House press briefing on March 11, Doocy put press secretary Karoline Leavitt on the spot about the market downturn. He asked, "So you said that <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44258002/wall-street-drop-deepens-as-trade-war-fears-escalate-sp-500-hits-7-month-lows-whats-driving-markets-tuesday">the Dow dropping</a> and dropping and dropping is a period of transition. You're sure nobody here at the White House shorted the Dow?" he asked.



"No, I don't think so," Leavitt replied.



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Doocy then pressed her again about the administration&#8217;s plan to encourage federal workers to retire amid stock market losses.



"Is there any concern here that it's gonna be harder to ask certain federal workers to retire if they look at their retirement accounts and they're getting dropped every day?"



Leavitt sidestepped the question, instead pivoting to Trump's broader economic strategy.



"I'm glad you brought up workers because that's exactly who President Trump is looking out for with his America First trade policy and his America First economic agenda," she said, emphasizing fair trade practices and worker protections.



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<h2 class="wp-block-heading">Doocy Presses Trump Directly</h2>



Later that day, Doocy took his concerns straight to the president. During an event outside the White House, where <a href="https://www.benzinga.com/markets/25/03/44240714/trump-says-he-will-buy-a-brand-new-tesla-to-support-elon-musk-as-stock-falls-over-53-erasing-nearly-800-billion-in-investor-wealth-since-december-peak">Trump was promoting Tesla</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and announcing that he planned to buy one of the company's vehicles at full price, Doocy challenged him on the optics of making such a purchase while Americans were struggling financially.



"What is your message, President Trump, buying a new car while there are some folks who will see this clip at home and they are struggling with their retirement accounts, down at the moment, uncertainty about work?" Doocy <a href="https://www.youtube.com/live/TkZdFtvAkGs?si=EviGlFmau5fOTaIr&amp;t=2529">asked</a>.



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Trump largely avoided the economic question, instead using the opportunity to tout his economic record and criticize past administrations for outsourcing U.S. manufacturing jobs.



"I think they&#8217;re going to do great," Trump said. "Our country had to do this. We had to go and do this. Other countries have taken away our business. They've taken away our jobs."



Trump defended his first term as "the greatest economy in the history of our country" before the COVID-19 pandemic and predicted that the current economy would surpass it. He also stressed the importance of bringing back jobs and reopening factories, blaming previous presidents for the loss of U.S. manufacturing.



While Fox News is typically a reliable ally for Trump, Doocy's line of questioning suggests that even <a href="https://www.benzinga.com/news/25/02/43532051/fox-news-stuns-audience-with-a-scrolling-list-of-goods-facing-tariffs-virtually-every-sector-of-the-american-economy-potentially-targeted">conservative media is taking notice</a> of the administration's economic challenges.



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'You're Sure Nobody In The White House Shorted The Dow?'—Fox's Peter Doocy Challenges Trump Three Times In A Day

Rep. John Larson (D-CT)&nbsp; went all out during a fiery House Ways and Means Committee <a href="https://www.youtube.com/watch?v=4WmWZ0pZpyQ">hearing</a> on March 12, criticizing Republican lawmakers for blocking Elon Musk from testifying about his role in shaping Social Security policy.&nbsp;



Larson, the top Democrat on the House's Social Security subcommittee, accused Musk and President Donald Trump's administration of pushing for a plan to <a href="https://www.benzinga.com/personal-finance/25/03/44252340/up-next-privatizing-social-security-warns-bernie-sanders-says-trump-wants-to-undermine-a-program-that-lifted-27-6m-from-poverty">privatize the program</a> while avoiding public accountability.



&#8220;Where's Elon Musk? I'm sure he's a genius and is a very credible person because of the wealth he's accumulated, but that does not put him above the law or the responsibility to come before this committee and this Congress,&#8221; Larson said.



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<h2 class="wp-block-heading">Privatization Push Under Fire</h2>



Larson has spent years advocating for <a href="https://www.benzinga.com/personal-finance/24/07/39843652/congress-has-not-done-anything-in-53-years-about-social-security-says-u-s-rep-john-larson">Social Security's expansion</a>, but recent moves by the Trump administration have raised alarms among Democrats. Musk, a Trump ally, has <a href="https://www.benzinga.com/news/25/03/44156805/elon-musk-once-again-calls-social-security-the-biggest-ponzi-scheme-of-all-time-struggles-to-explain-to-joe-rogan-why">repeatedly called Social Security</a> the &#8220;biggest Ponzi scheme of all time&#8221; and claimed without evidence that officials had uncovered hundreds of millions of dollars in fraud.



In recent weeks, the Department of Government Efficiency, led by Musk, has moved to cut thousands of jobs at the Social Security Administration and shut down field offices nationwide—including in Connecticut. The Washington Post <a href="https://www.washingtonpost.com/politics/2025/03/12/social-security-phone-doge-elderly-disabled/">reported</a> that under pressure from DOGE, the agency is even considering eliminating phone services, a critical resource for millions of Americans who rely on Social Security benefits.



Larson argued that these actions are designed to weaken the program and set the stage for privatization. &#8220;Because he's out to privatize Social Security,&#8221; Larson said when answering his own question about Musk's absence from the hearing.



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<h2 class="wp-block-heading">GOP Faces Backlash Over Hearing</h2>



Democrats, including Sens. Richard Blumenthal (D-CT) and Chris Murphy (D-CT), have called on the SSA to explain its decision to cut staff and services.



&#8220;As one of the nation's most popular and effective programs, Social Security provides a foundation of income on which workers can build for their retirement, as well as valuable insurance protection against unexpected hardship,&#8221; they wrote in a <a href="https://www.rosen.senate.gov/wp-content/uploads/2025/03/030625_letter_to_ssa_acting_commissioner_re.staffingreductions.pdf">letter</a> to SSA Acting Commissioner Leland Dudek. &#8220;By slashing staff and eliminating field offices, fewer Americans will be able to seek assistance during pivotal life events and risk causing further hardship to those in dire circumstances.&#8221;



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Republicans have defended Musk, arguing that his claims about fraud deserve further investigation. Trump himself has also made conflicting statements, echoing Musk's fraud allegations while also <a href="https://www.benzinga.com/personal-finance/24/07/39956660/donald-trump-swears-to-protect-social-security-but-formerly-referred-to-it-as-a-ponzi-scheme">promising to &#8220;protect&#8221;</a> Social Security. Critics, however, see the administration's moves as part of a broader attempt to weaken public trust in the program and justify future cuts.



With Republicans controlling the House and Senate, Musk and Trump's influence over Social Security policy remains a major concern for Democrats. Larson and his colleagues are demanding that the administration turn over documents related to its plans for the program. But for now, one major question remains unanswered:



&#8220;If these plans and all the fraud and abuse he's found are so eminent, why isn't he here explaining it?&#8221; Larson asked during the hearing. So far, Musk has yet to respond.



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'Where Is Elon Musk?'—Rep. Larson Blasts GOP For Blocking His Testimony In Congress, Says His Wealth Doesn't Put Him 'Above The Law'

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener"> many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.



This week, U.S. stock markets tumbled into correction territory, with the S&amp;P 500 dropping over 10% from February highs. Investor fears surged over President Donald Trump's tariff hikes on Canadian steel and aluminum, fueling recession concerns and a potential global slowdown.



Consumer confidence plummeted, with the University of Michigan's index falling 11% to 57.9, its lowest since 2022. Trade tensions, government layoffs, and immigration restrictions stoked worries about reduced spending and a weakening job market.



Despite the turmoil, markets rebounded Friday, with the Dow Jones gaining over 200 points as utilities, tech, and energy stocks rallied. However, consumer staples and financials lagged, underscoring persistent economic uncertainty.



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.



The Bulls



In <a href="https://www.benzinga.com/news/earnings/25/03/44317205/docusign-q4-earnings-revenue-beat-eps-beat-billings-up-11-shares-move-higher-despite-soft-guidance">"DocuSign Q4 Earnings: Revenue Beat, EPS Beat, Billings Up 11%, Shares Move Higher Despite Soft Guidance"</a>, by Adam Eckert, DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>) reports a 9% revenue increase to $776.3 million and adjusted earnings per share of 86 cents, surpassing expectations, with billings up 11%, though shares rose despite soft guidance.



In <a href="https://www.benzinga.com/25/03/44301722/d-wave-quantum-stock-rallies-on-strong-q4-booking-growth-and-optimistic-outlook">"D-Wave Quantum Stock Gains On Strong Q4 Booking Growth, Optimistic Outlook"</a> by Nabaparna Bhattacharya, D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) reports a 502% year-over-year increase in Q4 bookings to $18.3 million and anticipates Q1 2025 revenue to exceed $10 million, driven by the sale of an Advantage quantum computer.



In <a href="https://www.benzinga.com/25/03/44323837/radius-recycling-lands-merger-deal-at-115-premium-shares-skyrocket">"Radius Recycling Lands Merger Deal At 115% Premium, Stock Skyrockets"</a> by Lekha Gupta, Radius Recycling Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) agrees to a $1.34 billion acquisition by Toyota Tsusho America, offering $30 per share—a 115% premium—causing Radius shares to surge 109% premarket.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/top-stories/25/03/44313558/nvidia-stock-reached-all-time-highs-after-jensen-huangs-ces-keynote-will-next-weeks-gtc-spark-another-surge">Nvidia Stock Reached All-Time Highs After Jensen Huang's CES Keynote — Will Next Week's GTC Spark Another Surge?</a>



<a href="https://www.benzinga.com/analyst-ratings/price-target/25/03/44302205/why-intel-stock-is-surging-thursday">Why Intel Stock Is Surging Thursday</a>



<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44317256/bitcoin-to-hit-250k-by-end-of-2025-tim-draper-predicts-will-be-the-dominant-currency-of-the-world">Bitcoin To Hit $250K By End Of 2025 Tim Draper Predicts: ‘Will Be The Dominant Currency Of The World'</a>



The Bears



In <a href="https://www.benzinga.com/news/large-cap/25/03/44237691/magnificent-7-sheds-over-750-billion-in-market-cap-in-one-day-is-big-techs-honeymoon-over">"Magnificent 7 Sheds Over $750 Billion In Market Cap In One Day: Is Big Tech's Honeymoon Over?"</a> by Hayden Buckfire, the Magnificent Seven tech companies, including Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), collectively lost approximately $780 billion in market capitalization on Monday, driven by investor concerns over a potential recession and President Donald Trump's proposed tariff plans.



In <a href="https://www.benzinga.com/general/social-media/25/03/44286296/trump-media-technology-stock-drops-50-since-inauguration-day">"Trump Media &amp; Technology Stock Drops 50% Since Inauguration Day"</a> by Erica Kollmann, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares have fallen 50% since President Donald Trump's inauguration, closing at $19.50, amid market volatility and policy uncertainties.



In <a href="https://www.benzinga.com/25/03/44274151/palantirs-stock-takes-a-hit-but-will-aipcon-defense-deals-be-the-comeback-catalyst">"Palantir's Stock Takes A Hit: Will AIPCon And Defense Deals Be The Comeback Catalyst?"</a> by Surbhi Jain, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) shares have declined 33.51% over the past month, trading below key moving averages, as investors await potential catalysts from the upcoming AIPCon and recent defense contracts.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/trading-ideas/movers/25/03/44307671/is-high-flying-ionq-stock-a-disaster-in-the-making-shares-slide-as-short-seller-raises-red-flags">Is High-Flying IonQ Stock A ‘Disaster In The Making'? Shares Slide As Short Seller Raises Red Flags</a>



<a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44256996/terawulf-stock-tanks-death-cross-spells-trouble-for-bitcoin-miner">TeraWulf Stock Tanks: Death Cross Spells Trouble For Bitcoin Miner</a>



<a href="https://www.benzinga.com/25/03/44229052/oracle-stock-stumbles-into-q3-earnings-will-buyers-step-in-as-it-nears-oversold-territory">Oracle Stock Stumbles Into Q3 Earnings: Will Buyers Step In As It Nears Oversold Territory</a>



Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.



Image created using artificial intelligence via Midjourney.

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Benzinga Bulls And Bears: DocuSign, Magnificent 7, Palantir — And Tariffs Keep Roiling Markets

Wall Street wrapped up its fourth consecutive week in the red, a losing streak not seen since May 2022, and the S&amp;P 500 index officially entered correction territory after sliding 10% <a href="https://www.benzinga.com/government/regulations/25/03/44317410/sp-500-enters-technical-correction-as-trade-war-fears-rattle-markets">from its February highs.</a>



Investor anxiety remains high, fueled by the looming impact of trade tariffs touted by President Donald Trump and deep, abrupt spending cuts spearheaded by the DOGE office under Elon Musk.



February's inflation data brought positive news, reinforcing expectations for Federal Reserve rate cuts this year. The Consumer Price Index rose 2.8% year-over-year, easing from 3% in January and coming in <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44274165/inflation-cools-more-than-expected-in-february-strengthens-the-case-for-fed-rate-cuts">below economist forecasts of 2.9%.</a> Similarly, wholesale inflation remained unchanged on a monthly basis, marking a stark slowdown from <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44300810/us-producer-inflation-stalls-in-february-as-services-costs-drop-eggs-price-skyrockets">January's 0.6% surge.</a>



Yet, even these cooled-than-expected inflation prints failed to reignite risk appetite, as markets remained firmly focused on policy developments from the White House.



On Thursday, President Donald Trump threatened to impose a 200% tariff on European wines and alcoholic beverages unless the European Union removes its 50% <a href="https://www.benzinga.com/government/regulations/25/03/44301835/trump-threatens-200-tariff-on-european-wine-alcohol-stocks-react">duty on American whiskey.</a>



Earlier in the week, the White House also announced tariffs on Canadian steel and aluminum will double to 50%, with a warning that auto tariffs could surge if Canada does not roll back its retaliatory duties. Trump further reaffirmed his commitment to reciprocal tariffs on global trade partners, set to take effect on April 2.



Consumer sentiment is reflecting the economic turbulence of a regime shift.



On Friday, the <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44331170/us-consumer-confidence-plunges-as-inflation-fears-hit-highest-level-since-1993">University of Michigan's latest survey</a> showed a sharp decline in consumer confidence, with future economic expectations sinking to their lowest since July 2022 and long-term inflation expectations soared to their highest level since 1993 — a troubling sign consumers are bracing for persistent price pressures.



Against this backdrop, <a href="https://www.benzinga.com/government/regulations/25/03/44308014/gold-hits-record-highs-as-trade-war-fears-fuel-safe-haven-demand-mining-stocks-soar">gold is once again shining</a> as a safe-haven asset, drawing investors seeking protection. The yellow metal — as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) — surged to fresh all-time highs of $3,000 per ounce, securing gains for 10 of the past 11 weeks.



At the end of the week, markets rebounded amid confirmation that a government shutdown would be averted and the absence of trade-related headlines from Trump. 



The Federal Reserve is widely expected to hold interest rates steady next week, but fresh economic projections may start to outline a stagflation scenario, characterized by slowing growth and stubbornly high inflation.



You might have missed…



Tariffs Threaten Automakers: Trade uncertainty threatens U.S. automakers, potentially slashing Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) <a href="https://www.benzinga.com/news/econ-s/25/03/44262286/tariff-uncertainty-poses-major-risk-to-us-automakers-how-much-could-ford-gm-earnings-fall">earnings amid tariff concerns.</a>



Photo: Shutterstock Professional via Shutterstock

Equities

Large Cap

Macro Economic Events

Commodities

Econ #s

Economics

Federal Reserve

Stocks Enter Correction Zone, Tariff Fears Hammer Consumer Confidence, Inflation Worries Hit 32-Year Highs: This Week In Markets

ARK Invest CEO Cathie Wood <a href="https://www.benzinga.com/etfs/specialty-etfs/24/06/39294523/cathie-wood-ark-invest-set-new-2-600-price-target-for-tesla-every-car-becomes-an-ai-powered-c">maintains her ambitious $2,600 price target</a> for Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) by 2029—valuing the company at over $9 trillion—despite the stock&#8217;s near 41% decline since the beginning of the year.



&#8220;It&#8217;s winner take most,&#8221; Wood said of Tesla&#8217;s position in the autonomous vehicle race during <a href="https://www.bloomberg.com/news/audio/2025-03-11/cathie-wood-on-what-s-next-for-ai-tesla-big-tech-tsla?srnd=phx-markets">Bloomberg&#8217;s "Odd Lots" podcast</a>. &#8220;And we do believe that Tesla will be and is in the pole position here in the United States.&#8221;



Wood sees robotaxis as an $8 trillion to $10 trillion opportunity that could transform Tesla from an auto manufacturer to a software company. She predicts autonomous vehicles will boost Tesla&#8217;s gross margins from the current 16% to up to 90%, according to <a href="https://fortune.com/2025/03/04/elon-musk-inventor-of-our-age-doge-distracted-cathie-wood-tesla-stock/">Fortune</a>.



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Wood's bullish outlook hasn&#8217;t translated into strong performance for her flagship $6 billion ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), where Tesla <a href="https://www.ark-funds.com/funds/arkk">represents the largest holding at 10.74%</a>. The fund has gained just 2% over the past five years while the S&amp;P 500 has nearly doubled.&nbsp;



ARKK is down more than 16% year-to-date.



However, retail investors added nearly $300 million to ARKK on Monday—its largest single-day inflow in two years, <a href="https://www.bloomberg.com/news/articles/2025-03-11/arkk-fans-plow-300-million-into-battered-etf-despite-big-losses?embedded-checkout=true">according to Bloomberg</a>. It came despite the fund tumbling about 9% that day amid a broader market selloff.



Matt Maley, chief market strategist at Miller Tabak + Co., told Bloomberg that retail investors are buying tech stocks as the sector has taken a beating this year. The &#8220;buy-the-dip&#8221; mentality is strong, according to Bloomberg, particularly among those seeking Tesla exposure.



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Wood called Musk &#8220;the inventor of our age&#8221; and dismissed concerns that his role heading the Department of Government Efficiency would distract from Tesla. &#8220;He&#8217;s surrounded himself by businesspeople and engineers who want to work on the hardest projects in the world,&#8221; she said.



Beyond Tesla, Wood anticipates an &#8220;R&amp;D explosion in health care,&#8221; with CRISPR Therapeutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSP#NASDAQ">CRSP</a>) representing <a href="https://www.ark-funds.com/funds/arkk">nearly 6% of ARKK&#8217;s portfolio</a>. She compared President Donald Trump&#8217;s second term to the &#8220;Reagan revolution,&#8221; calling that era &#8220;the heyday, golden age of active management.&#8221;



Despite Monday&#8217;s inflow, ARKK hasn&#8217;t seen a monthly net positive since December 2023, according to Bloomberg.&nbsp;



Bloomberg noted that many of ARKK&#8217;s top holdings from November 2021 remain unchanged, including Tesla, Roku (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), and Shopify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>)—none of which have kept pace with the broader market since then.



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SHOP

Cathie Wood Stands By Tesla's $2,600 Price Target Despite 40% Stock Drop: 'It's Winner Take Most

Last year, Warren Buffett was criticized and mocked for sitting on a mountain of cash while markets surged. However, now, with stocks tumbling and recession fears mounting, the "Oracle of Omaha" suddenly looks like the only one who saw it coming.



What Happened: Berkshire Hathaway sold a staggering <a href="https://in.benzinga.com/markets/equities/25/02/44018996/buffetts-on-the-sidelines-should-you-follow">$134 billion worth</a> of stocks in 2024 — and barely touched the cash.



Buybacks were paused entirely in the second half, leaving Buffett's firm with a record-breaking <a href="https://in.benzinga.com/25/02/43904932/warren-buffett-favors-5-treasury-bills-over-buybacks-as-berkshire-hathaways-cash-pile-surges-the-rate-of-change-thats-most-telling-says-lawrence-mcdonald">$334 billion cash reserve</a> by year's end. At the time, critics questioned his reluctance to reinvest as the S&amp;P 500 logged two consecutive years of 20%+ gains.



See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44212384/bill-ackman-clashes-with-david-sacks-over-ukraine-strategy-asks-if-us-should-let-russia-take-the-rest-of-eastern-europe" target="_blank" rel="noreferrer noopener">Bill Ackman Clashes With David Sacks Over Ukraine Strategy, Asks If US Should Let Russia ‘Take The Rest Of Eastern Europe'</a>



Now, those same critics are eating their words.



Buffett slashed his Apple Inc. stake from 49% to just 23% of Berkshire's portfolio and reduced holdings in Bank of America. Weeks later, markets began to unravel.



The <a href="https://in.benzinga.com/markets/equities/25/03/44212672/jamie-dimon-cashed-out-234-million-in-jpmorgan-stock-warren-buffett-stockpiled-334-billion-in-cash-weeks-later-markets-crashed-coincidence">Nasdaq 100 dropped 8.83%</a> in just 18 days, while JPMorgan stock — sold by CEO Jamie Dimon in a $234 million February trade — tumbled more than 9.6%.



The Internet Is Paying Attention:



"There is only one billionaire in the top 10 whose net worth increased today: Warren Buffett," posted X user Dan Stone, sharing a screenshot of showing Buffett being the only one whose net worth increased by $607 million on March 10, 2025, amid a broader market decline



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is only one billionaire in the top 10 whose net worth increased today: Warren Buffett <a href="https://t.co/1HvrJioUJf">pic.twitter.com/1HvrJioUJf</a>&mdash; Dan Stone (@dan5one) <a href="https://twitter.com/dan5one/status/1899237658741920003?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another chimed in: "Just remember, there was a reason why Warren Buffett went $$340 billion cash. He knew."



Here are some other reactions:&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warren Buffett is so smart he managed to sit out a Bull market which gained 42% so he could avoid the horrible losses of a 8% correction &#8211; Fintwit &#x1f609; <a href="https://t.co/sqlyv1oQuF">pic.twitter.com/sqlyv1oQuF</a>&mdash; Reminiscences of an American Capitalist (@4Awesometweet) <a href="https://twitter.com/4Awesometweet/status/1899513384007303511?ref_src=twsrc%5Etfw">March 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warren Buffett watching the stock market collapse while holding $300 Billion in T-Bills<a href="https://t.co/dkf6z23d0c">pic.twitter.com/dkf6z23d0c</a>&mdash; Geiger Capital (@Geiger_Capital) <a href="https://twitter.com/Geiger_Capital/status/1899166290570260818?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



On Threads, the reaction was even sharper. "Funny how just days before the recent stock market crash, Warren Buffett cashed out $334 billion in stocks," wrote one user. "Meanwhile, JPMorgan CEO Jamie Dimon also sold hundreds of millions in shares. Coincidence? Or do they know something we don't?"



Another said, "Warren Buffett always knows when the collapse is coming because he's the first person they call when they need someone to bail them out."



Why It Matters: Economic uncertainty is growing, with President Donald Trump referring to the current state as "a period of transition" when asked about the likelihood of a recession.



Meanwhile, warning signs from the bond market are flashing, as investors increasingly favor short-term Treasuries amid expectations of interest <a href="https://www.benzinga.com/markets/equities/25/03/44212386/stock-futures-drop-as-reverse-trump-trade-takes-holdpeter-schiff-says-market-shift-long-overdue-and-will-likely-continue-for-a-decade">rate cuts by the Federal Reserve</a>.



Buffett has voiced <a href="https://www.benzinga.com/news/25/03/44122159/warren-buffett-calls-tariffs-an-act-of-war-warns-they-function-as-a-tax-on-goods-amid-market-turmoil">sharp criticism of tariffs</a>, calling them "an act of war" and equating them to a hidden tax on consumers. Analysts at Goldman Sachs have cautioned that a 5% hike in tariffs could slash corporate earnings by 1–2%, potentially leading to a 5% drop in the S&amp;P 500.



Still, Buffett remains optimistic about the future of U.S. businesses, reaffirming his confidence by saying, "A majority of any money I manage will always be in the United States."



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44212386/stock-futures-drop-as-reverse-trump-trade-takes-holdpeter-schiff-says-market-shift-long-overdue-and-will-likely-continue-for-a-decade" target="_blank" rel="noreferrer noopener">Stock Futures Drop As ‘Reverse Trump Trade' Takes Hold—Peter Schiff Says Market Shift ‘Long Overdue' And Will Likely Continue For A Decade</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Tech

Warren Buffett's Berkshire Hathaway Sold $134 Billion In Stocks In 2024, Timing It Perfectly As Recession Fears Mount: The Internet Is In Awe

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly facing internal turmoil as it <a href="https://in.benzinga.com/media/25/03/44207932/apple-delays-next-gen-siri-its-going-to-take-us-longer-than-we-thought-to-deliver-ai-upgrades">struggles to fix major AI failures</a> in Siri, with a top executive calling the delays ugly and embarrassing after the company prematurely marketed features that weren't ready.



What Happened: During an all-hands meeting for Apple's Siri division, senior director Robby Walker acknowledged the frustration among employees over the repeated delays of key AI-powered Siri enhancements, <a href="https://www.bloomberg.com/news/articles/2025-03-14/apple-s-siri-chief-calls-ai-delays-ugly-and-embarrassing-promises-fixes">reported</a> Bloomberg, citing people familiar with the matter.



"This was not one of those situations where we get to show people our plan after it's done," Walker told staff, referring to <a href="https://www.benzinga.com/news/24/06/39228141/apple-intelligence-what-to-expect-from-tim-cooks-wwdc-plans-for-bringing-ai-to-iphone-ipad-and-mac">Apple's demonstration of its AI features</a> at WWDC. "We showed people before."



See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44069535/anthropic-ceo-dario-amodei-pushes-for-stronger-us-ai-safeguards-saying-autocracies-like-china-and-russia-could-use-ai-to-expand-their-power" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Anthropic Pushes For Stronger US AI Safeguards, Saying Autocracies Like China, Russia Could Use AI To Expand Their Power</a>



Walker admitted that Apple's marketing team made the situation worse by promoting the upcoming Siri features in TV commercials and branding campaigns despite knowing they were not ready for launch.



Initially <a href="https://www.benzinga.com/news/24/07/39665558/apples-most-awaited-siri-ai-upgrade-will-not-come-until-2025-report">expected in early 2024</a>, the AI-powered Siri enhancements—designed to improve personal assistant functionality, data integration, and app control—have been repeatedly delayed due to performance issues.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



Walker said Apple found that the features only worked properly two-thirds to 80% of the time, meaning they failed one out of every three attempts.



Apple now aims to roll out the improvements in iOS 19, but Walker warned that even this timeline is uncertain, citing competing priorities within Apple's software and hardware teams.



Why It's Important: The delays highlight Apple's ongoing struggles in AI, particularly as competitors like OpenAI, Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) advance rapidly.&nbsp;



Siri has lagged behind rivals, and these setbacks reinforce concerns about <a href="https://www.benzinga.com/tech/25/03/44068020/apples-ai-crisis-falling-behind-in-the-ai-race">Apple's ability to compete in the AI space</a>.



Apple's AI missteps come as the company faces a 12.45% stock decline year-to-date amid broader market struggles.



Earlier this week, Morgan Stanley raised concerns over Apple&#8217;s AI delay, cutting its <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/03/44284821/apple-stock-takes-a-bite-out-of-investors-as-siri-fumbles-ai-race">price target from $275 to $252</a>.&nbsp;



Meanwhile, in a bid to regain its footing, Apple has reportedly partnered with Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to enhance <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/02/43655603/apple-finds-its-ai-wingman-in-alibaba-can-it-power-an-iphone-comeback-in-china">AI features in iPhones</a> for the Chinese market. This collaboration could be crucial for Apple&#8217;s efforts to reclaim market share in China.



Price Action: Apple&#8217;s stock closed at $213.49 on Friday, rising 1.82% for the day. However, after-hours trading saw a slight decline of 0.094%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/news/legal/25/03/44344993/apple-reportedly-fights-uk-governments-unacceptable-encryption-order-behind-closed-doors-no-press-or-public-allowed">Apple Reportedly Fights UK Government&#8217;s &#8216;Unacceptable&#8217; Encryption Order Behind Closed Doors — No Press Or Public Allowed</a></li>
</ul>



Photo courtesy: Apple

AAPL

AMZN

BABA

GOOG

GOOGL

MSFT

Apple Scrambles To Fix Siri's AI Failures After Public Misstep—Top Executive Admits Marketing It Too Soon Made Things Worse

Ray Dalio, founder of Bridgewater Associates, has raised alarms about the United States&#8217; national debt, predicting an imminent crisis.



What Happened:&nbsp;According <a href="https://fortune.com/2025/03/12/national-debt-burden-ray-dalio-foreign-government-pressure/">to</a>&nbsp;a report by Fortune, Dalio expressed his concerns during his speech at the CONVERGE LIVE event in Singapore on Thursday.



Dalio highlighted a severe imbalance between supply and demand, noting that the debt-to-GDP ratio has reached 122%, surpassing the nation&#8217;s economic output. He warned that the U.S. might soon face difficulties selling its debt, as foreign investors like China and Japan are pulling back.



The&nbsp;Congressional Budget Office (CBO)&nbsp;projects that the debt ratio could escalate to 166% by 2054.



"We have a very severe supply and demand problem. Some people think we'll handle it because we've handled it so far. I don't think they understand the mechanics of debt," he said, according to the report.



Dalio emphasized that the U.S. will eventually need to sell debt that global markets may not be interested in purchasing, a scenario he described as &#8220;paramount importance.&#8221;



Dalio suggested that the current&nbsp;federal budget deficit of 7.2%&nbsp;of GDP is unsustainable, advocating for a reduction to around 3%.



He hinted at potential measures such as debt restructuring and political pressure on foreign governments to purchase U.S. debt.



Joao Gomes, a finance professor at Wharton Business School, echoed Dalio&#8217;s concerns, noting the declining interest from traditional debt buyers. He warned that if investors demand higher interest rates, it could lead to significant economic disruptions.



Why It Matters: Dalio&#8217;s warnings are not new, but they are increasingly urgent.



In February, he <a href="https://www.benzinga.com/markets/25/02/43756938/ray-dalio-warns-of-looming-us-debt-crisis-says-america-faces-economic-heart-attack-without-fiscal-cuts">cautioned</a> that the U.S. faces an &#8220;economic heart attack&#8221; if fiscal cuts are not made, comparing the $36 trillion national debt to plaque in the financial system&#8217;s arteries.



He emphasized the need for fiscal responsibility, urging the government to <a href="https://www.benzinga.com/25/02/43966706/ray-dalio-urges-trump-to-cut-deficits-to-3-of-gdp-within-three-years-or-let-the-economy-suffer">reduce deficits to 3% of GDP</a> within three years, or risk economic instability.



His systematic approach to understanding global economic cycles highlights debt as a critical factor, likening it to the circulatory system of financial markets.



The urgency of Dalio&#8217;s message is <a href="https://www.benzinga.com/markets/25/03/44267663/ray-dalio-warns-us-debt-crisis-could-trigger-shocking-developments-calls-to-reduce-deficit-at-3-of-gdp">underscored</a> by the potential for &#8220;shocking developments&#8221; if the U.S. does not address its debt issues promptly.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/03/44345006/arthur-hayes-predicts-bitcoin-surge-to-250000-by-year-end-says-current-downturn-is-clearing-out-deadwood-short-te">Arthur Hayes Predicts Bitcoin Surge To $250,000 By Year-End, Says Current Downturn Is Clearing Out Deadwood: ‘Short-Term Pain'</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Ray Dalio Has A Chilling Warning For President Trump: Debt Crisis Is Imminent, And An Issue Of 'Paramount Importance'

In a significant escalation of trade tensions,&nbsp;Canada&nbsp;has introduced retaliatory tariffs against the U.S., prompting criticism from&nbsp;Commerce Secretary Howard Lutnick. The move follows the Trump administration&#8217;s recent trade measures targeting Canadian exports.



What Happened: Lutnick expressed dissatisfaction with Canada&#8217;s &#8220;tone deaf&#8221; approach in an interview ahead of a meeting with Canadian officials on Thursday.



Canada&#8217;s tariffs target $15.6 billion&nbsp;worth of U.S. steel and&nbsp;aluminum, mirroring the U.S. tariffs on metals. Additionally, Canada imposed tariffs on $14.2 billion worth of other goods, including tools, computers, and sports equipment.



Lutnick criticized these measures, stating, &#8220;We&nbsp;put a tariff on steel&nbsp;and aluminum to make sure&nbsp;the dumping countries of the&nbsp;world stop&#8230;&nbsp;And what does Canada do?&nbsp;They put a tariff on&nbsp;sports equipment.&#8221;



"I mean really? This is just tone deaf," he said, according <a href="https://fortune.com/2025/03/14/commerce-secretary-howard-lutnick-canada-trump-tariff-response-mexico-uk/">to</a> Fortune.



Lutnick defended the U.S. tariffs as necessary for national security, emphasizing the importance of domestically produced materials for defense purposes.



He accused Canada of relying heavily on the U.S. for protection while contributing less to NATO, citing Canada&#8217;s 2024 contribution of $30.5 billion compared to the U.S.&#8217;s $967 billion.



Despite the tensions, Ontario Premier Doug Ford described the meeting with Lutnick as &#8220;productive&#8221; and expressed optimism about future discussions. Both countries&#8217; tariffs remain in place, but Ford praised Lutnick&#8217;s business acumen and negotiation skills.



Why It Matters: The trade tensions between the U.S. and Canada have been escalating, with Canada announcing plans to impose 25% tariffs on over $20 billion worth of U.S. goods.



This move <a href="https://www.benzinga.com/news/25/03/44281882/canada-retaliates-with-20b-in-tariffs-on-us-goods-amid-trade-war">targets</a> a wide range of products, including steel, aluminum, and sports equipment. The Canadian response is a direct counter to the U.S. tariffs on metals, which were justified by the Trump administration on national security grounds.



Elon Musk-led Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has seen its products <a href="https://www.benzinga.com/markets/25/03/44321211/tesla-charging-stations-cut-from-rebate-program-by-canadian-province-most-people-would-support-their-removal-from-subsidy-list-says-minister">excluded</a> from rebates in British Columbia, a move linked to the ongoing trade tensions.



This exclusion affects Tesla&#8217;s electric vehicle charging stations and home batteries, highlighting the broader impact of the trade dispute on various industries.



Furthermore, the dairy sector has been a point of contention, with high tariffs on U.S. dairy products being a <a href="https://www.benzinga.com/news/25/03/44326649/does-canada-really-have-a-250-tariff-in-place-on-us-dairy-products-imported-into-canada-here-are-the-facts">longstanding issue</a>. These tariffs can reach up to 298.5% when U.S. exports exceed quotas set under the United States-Mexico-Canada Agreement.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/03/44299887/tsla-stock-may-see-a-significant-upswing-says-jim-cramer-should-be-ready-to-rally-maybe-furiously">TSLA Stock May See A Significant Upswing, Says Jim Cramer: &#8216;Should Be Ready To Rally, Maybe Furiously&#8217;</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Politics

Global

Canada's Retaliatory Tariffs Against US Draw Commerce Secretary Howard Lutnick's Ire Who Thinks They Are 'Tone Deaf:' 'The British Didn't Respond, The Mexicans Didn't Respond…'

Crypto markets are surging into the weekend, sparking speculation on whether Bitcoin's break above $84,000 could fuel further upside.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>&nbsp;$84,793.95&nbsp;</td><td>+5%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>&nbsp;$1,939.46</td><td>+4.6%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>&nbsp;$134.25</td><td>+9.2%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>&nbsp;$2.35</td><td>+4.3%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.1713</td><td>+4.2%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00001265&nbsp;&nbsp;</td><td>+5.7%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume decreasing by 15.5% and daily active addresses up by 3.6%. Transactions greater than $100,000 are down from 10,064 to 9,548 &nbsp;in a single day. Exchanges netflows are down by 87.8%.</li>



<li>Coinglass data reports 69,998 traders were liquidated in the past 24 hours for $171.48 million.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44330826/vladimir-putin-said-nobody-can-ban-bitcoin-now-russia-reportedly-leverages-btc-to-evade-sanctions-when-selling-oil-to-china-india">Vladimir Putin Said &#8216;Nobody Can Ban Bitcoin&#8217;—Now Russia Reportedly Leverages BTC To Evade Sanctions When Selling Oil To China, India</a></li>



<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44327489/trump-backed-world-liberty-financial-raises-590m-in-token-sales">Trump-Backed World Liberty Financial Raises $590M In Token Sales</a></li>



<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44326594/trump-administration-signals-aggressive-cost-neutral-bitcoin-accumulation-strategy">Trump Administration Signals Aggressive Cost-Neutral Bitcoin Accumulation Strategy</a></li>



<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44334930/floki-community-shuts-down-coinbase-delisting-rumors-sets-sight-on-chasing-dogecoin-shiba-inu">Floki Community Shuts Down Coinbase Delisting Rumors, Sets Sight On Chasing Dogecoin, Shiba Inu</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44321245/ripple-sec-lawsuit-nears-end-will-xrp-be-classified-as-commodity-like-ethereum">Ripple-SEC Lawsuit Nears End: Will XRP Be Classified As Commodity Like Ethereum?</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>OFFICIAL TRUMP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>)</td><td>&nbsp;$11.98</td><td>+14.4%</td></tr><tr><td>Sonic (prev. FTM) (CRYPTO: S)</td><td>&nbsp;$0.5392</td><td>+13.8%</td></tr><tr><td>Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>)</td><td>&nbsp;$14.53</td><td>+12.6%</td></tr></tbody></table></figure>



Trader Notes: With Bitcoin prices moving upwards, crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1900593013442916409">predicts</a> Bitcoin could push to $90,000 if $84,000 support holds over the weekend.



Trader Jelle <a href="https://x.com/CryptoJelleNL/status/1900590125353972217">voices</a> a similar opinion, highlighting that BTC reclaimed $84,000 after a week of testing. 



Holding this level over the weekend could set up a move toward $90,000. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There we go, after a week of pushing into $84,000 &#8211; we&#39;re now back above it. Want to see the area hold over the weekend &#8211; so we can charge towards $90,000 next. Reclaim that level too &#8211; and the PO3 comes into play. Could get interesting. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/jvke9MXZDI">pic.twitter.com/jvke9MXZDI</a>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1900590125353972217?ref_src=twsrc%5Etfw">March 14, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Crypto trader CRG <a href="https://x.com/MacroCRG/status/1900601566119289317">explains</a> U.S. indices are breaking out on low timeframes—a strong close today could fuel a bullish weekend for crypto if momentum holds.



Javon Marks <a href="https://x.com/JavonTM1/status/1900563718976544970">believes</a> this is not Bitcoin's most bullish phase because historical trends and price structure suggest the most explosive bull phase is still ahead.



Bloomberg senior ETF Analyst Eric Balchunas stated Bitcoin ETF inflows have dipped to $35 billion from a peak of $40 billion, but with $115 billion in assets under management, over 95% of investor cash has held strong despite a 25% price drop.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Nice <a href="https://twitter.com/JSeyff?ref_src=twsrc%5Etfw">@JSeyff</a> chart of Bitcoin ETF inflows which are down to $35b (from peak of $40b). Based on $115b of aum that means more than 95% of inv cash has held strong despite painful 25% decline = the Boomers are showing y&#39;all how it&#39;s done.. &#x2A;ducks&#x2A; <a href="https://t.co/8OtH6NM33g">pic.twitter.com/8OtH6NM33g</a>&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1900282396739555381?ref_src=twsrc%5Etfw">March 13, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44337275/bitcoin-reclaims-84000-what-does-technical-analysis-say">Bitcoin Reclaims $84,000: What Does Technical Analysis Say?</a></li>
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Bitcoin, Ethereum, XRP, Dogecoin Rally: Can BTC Hold $84,000 Over The Weekend For A Push To $90,000?

Elon Musk's recent comments on "<a href="https://www.youtube.com/watch?v=sSOxPJD-VNo">The Joe Rogan Experience</a>" have stirred up a big discussion about inefficiencies in federal spending. Musk mentioned that "money is most poorly spent when you're spending someone else's money on people you don't know."



<a href="https://www.benzinga.com/news/25/02/43853560/we-are-not-waste-education-researchers-slam-elon-musks-881-million-cuts-that-shut-down-studies-on-student-learning-and-school-data">Musk</a> believes such payments reveal systemic issues. He also criticized the Treasury's payment system, arguing that its lack of required codes makes it function like "blank checks," and he suggested that this flaw results in more than $2 trillion in waste each year—a figure might be overblown.



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<h2 class="wp-block-heading">Examining the Controversy Around Federal Spending</h2>



Controversy grew when Musk <a href="https://x.com/elonmusk/status/1891350795452654076?lang=en">alleged on X</a> that the Social Security Administration database lists millions dead people as alive, implying massive fraud. However, a report by<a href="https://apnews.com/article/57f9e374e77e7a24fdff3afa294aa7fe"> </a><a href="https://www.wired.com/story/elon-musk-doge-social-security-150-year-old-benefits/">Wired</a> showed that although the system sometimes misclassifies due to its old COBOL programming, almost none of those cases lead to benefits being paid out.&nbsp;



In 2025, the <a href="https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf">Social Security Administration</a> is projected to distribute around $1.6 trillion in benefits to nearly 69 million Americans for disability, retirement, and Supplemental Security Income programs..



Another point of contention was Musk's amplification of a post on <a href="https://x.com/elonmusk/status/1856665933537792272">X</a> claiming the U.S. government spent $4.5 million to spray alcoholic rats with bobcat urine and transgender monkeys.&nbsp;



Trending: <a href="https://www.benzinga.com/money/kingscrowd-adv">This platform is reshaping how you invest in private companies — and you can be a part of it for $0.18 per share</a>.



<a href="https://www.vox.com/politics/398583/musk-trump-doge-fraud-waste-debt-deficit">Vox</a> has pointed out that debates over "waste, fraud and abuse" are nothing new, and while some projects might seem frivolous, they barely move the needle in the context of federal spending. Especially considering the main reasons for the growing federal deficit are tax cuts and the increasing costs of supporting retirees and their healthcare.



LinkedIn co-founder and longtime associate of Musk Reid Hoffman offered a more measured perspective in an interview on <a href="https://www.youtube.com/watch?v=PAbM7WJOxGU">Bloomberg Television</a>. He acknowledged that while government inefficiencies exist, they often serve a purpose.&nbsp;



Unlike private companies, government institutions operate under different constraints, prioritizing stability over rapid innovation. Hoffman emphasized that rather than dismantling bureaucratic structures outright, the focus should be on improving efficiency while ensuring the government succeeds in serving both industry and citizens.



See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>



Experts like Jessica Riedl and Alex Nowrasteh argue that the <a href="https://www.benzinga.com/news/25/03/44143475/trumps-u-s-doge-service-claims-65b-in-savings-experts-call-it-smoke-and-mirrors-amid-resignations">Department of Government Efficiency</a>'s focus on cutting DEI programs is more about sending a political message than actually reducing the deficit, according to the <a href="https://apnews.com/article/doge-musk-trump-budget-cuts-eb39b3bd737c5b75bd4eecf4ebf187f4">Associated Press</a>.&nbsp;



The bulk of federal spending is locked into Social Security, Medicare, defense, and debt interest. Recent estimates even suggest DOGE might cancel around $67 billion in contracts annually—only a fraction of Musk's lofty target, <a href="https://www.businessinsider.com/elon-musk-doge-early-spending-dei-contracts-2025-1">Business Insider reported.</a>&nbsp;&nbsp;



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$1.9 Billion Federal Scam, $2 Trillion in Federal Waste: The Latest Findings from DOGE as Elon Musk Says "Money Is Poorly Spent"

Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) is seeing a massive spike in its burn rate, fueling speculation of a bullish reversal as key technical and <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">on-chain metrics strengthen</a>.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Market Cap</td><td>24-Hour Trend</td><td>7-Day Trend</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00001246</td><td>$7.3 billion</td><td>+2%&nbsp;</td><td>-7.3%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.1694</td><td>$25.1 billion</td><td>-0.07%&nbsp;</td><td>-16.5%&nbsp;</td></tr><tr><td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td><td>&nbsp;$0.056973</td><td>$2.9 billion</td><td>-0.9%&nbsp;</td><td>-1.5%&nbsp;</td></tr></tbody></table></figure>



Trader Notes: Rose Premium Signals notes that SHIB is testing the upper resistance of a falling wedge on the 4-hour chart. A breakout above the 50-day moving average is needed to confirm an uptrend, with potential targets at $0.00001305, $0.00001375, $0.00001485, and $0.00001565 if it happens.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw">#SHIB</a><a href="https://twitter.com/search?q=%24Shiba&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Shiba</a> Inu is challenging the upper resistance of a falling wedge pattern on 4H chart&#x1f9d0; Price needs to break above the MA 50 acting as resistance for confirmation of bullish reversal&#x1f4c8; If breakout occurs, expect targets at $0.00001305, $0.00001375, $0.00001485 and… <a href="https://t.co/JnZhfHhfXo">pic.twitter.com/JnZhfHhfXo</a>&mdash; Rose Premium Signals &#x1f339; (@VipRoseTr) <a href="https://twitter.com/VipRoseTr/status/1899913730559009004?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Trader CW <a href="https://x.com/CW8900/status/1900264463825273253">highlights</a> a strong buy wall at current levels, with three sell walls standing between SHIB and its previous high of $0.00034. He believes a falling wedge breakout could trigger a major rally, stating: "It all starts in an instant."



Statistics: Shibburn reports 505.6 million SHIB burned in the past 24 hours, with 459.3 million SHIB incinerated in a single transaction 20 hours ago. This pushed the burn rate higher by 27,735.7%.



Shibariumscan shows daily transactions jumped from 69,800 (March 12) to 1.46 million (March 13), alongside a surge in active and new accounts.



IntoTheBlock data shows Shiba Inu large transaction volume increased 64% while daily active addresses were up 1.1%.



Community News: Shiba Inu marketing lead Lucie <a href="https://x.com/LucieSHIB/status/1900105273424986307?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1900105273424986307%7Ctwgr%5Ea889242c7ebf638e5deff2f4522ff99a37594962%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcryptonewsland.com%2Fshiba-inu-team-introduces-shib-os-for-transparent-governance%2F">announced</a> Shib OS, a decentralized governance platform aimed at replacing outdated centralized models for governments and enterprises. 



With strong on-chain activity, rising burn rates, and a bullish technical setup, all eyes are on SHIB for a potential breakout.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44219410/shiba-inu-burn-rate-spikes-1083-as-key-metrics-climb-what-is-going-on">Shiba Inu Burn Rate Spikes 1,083% As Key Metrics Climb: What Is Going On?</a></li>
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Image: Shutterstock

$PEPE

Shiba Inu Burn Rate Soars 27,735% In 24 Hours: Is A 'Bullish Reversal' Coming?

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