Daily Briefing: US stocks take a cold plunge

Hello! 🙋🏼‍♀️ I'm Nicole Fallert, and welcome to Tuesday's Daily Briefing. Don't fear the worm moon.

In today's news:

• Heightened risk of recession is shaking up the U.S. stock market.
• Americans are yet again bracing for a possible government shutdown.
• The women's conference tournament foreshadowed a chaotic (but oh-so-good) March Madness.

American stocks take a major tumble

The American stock market had its worst day of the year on Monday, when the tech-heavy Nasdaq and broad S&P 500 posted their biggest one-day drop since September 2022.

Why? Investors are wary amid heightened risk of a recession this year after President Donald Trump said he wouldn't rule one out.

• Why Trump has said he can't rule out a recession: Warning signs are mounting amid looming trade wars, rising inflation and stock market volatility.
• To tariff or not to tariff? Tariffs on Mexico and Canada briefly took effect last week before Trump backpedaled, pausing some until April 2, stirring economic whiplash.
• Not your green juice detox: Treasury Secretary Scott Bessent said last week that there could be a “detox period” as the economy adjusts to the new administration.

Will there be a government shutdown?

Congress has until 11:59 p.m. Friday to pass legislation to keep the government funded. Otherwise, a majority of federal employees will go without pay or be forced to stop working, and most government services will pause. House Republicans unveiled a spending bill Saturday that would temporarily keep the government funded until Sept. 30., which increases defense and immigration spending but decreases non-defense spending across federal departments by about $13 billion. There is also a proposed rollback of $20 billion in funding for the IRS. Democrats have spoken out against the bill.

More news to know now

• The CBP One app will allow migrants to self-deport.
• DOGE is firing — and hiring.
• NASA will cut the office of its chief scientist.
• What's going to happen to student loans?
• A South Carolina backyard was involved in starting Myrtle Beach wildfire.

Up early? Tackle our crossword. Sally's hint: Trail Mix.

'Exhaustive' search for missing Pittsburgh student presses on

Officials say an "exhaustive search by sea, air and land" search continues on Tuesday following the disappearance of a University of Pittsburgh student on a spring break trip in the Dominican Republic. Authorities combed for clues amid reports Sudiksha Konanki, who was vacationing with five women from her school, may have drowned. Surveillance cameras captured five women and one man leaving the beach at about 6 a.m. Thursday, police said in a statement. Konanki apparently stayed behind with the man, and surveillance video shows him leaving the beach area hours later without her. Police said they were interviewing the man.

Visit a national park to avoid politics. And find — politics.

This is not a normal year in Moab, Utah. The outdoorsy town is one of many shaken by President Trump's initial layoffs of federal workers, with the promise of dramatically more to come. Advocates worry about damage to National Parks, dirty restrooms and traffic jams around popular attractions. Meanwhile, local businesses in Moab are reporting a significant drop in Canadian tourists angered by on-again, off-again tariff plans. And potential American visitors are also canceling or worrying about the impact of federal job cuts. Locals hope the impact on tourism will be short-lived.

Today's talkers

• Why can't Meghan win with her new Netflix show?
• Can you get measles if you've been vaccinated?
• Get a springy pickleball outfit.
• Read one woman's journey to solve the housing crisis with her Cherokee heritage.

Paige Bueckers is ready for March Madness

It takes a lot to set yourself apart at UConn, but Paige Bueckers has managed to do it. Bueckers was named Most Outstanding Player of the Big East tournament on Monday, making her the first player to win it three times. Bueckers had 24 points, eight rebounds, three assists, two blocks and two steals in UConn's 70-50 win over Creighton for the Big East Tournament title. With the win, UConn has now won 36 consecutive conference tournament games and its fifth consecutive Big East tournament title — quite a run for one of women's college basketball's greatest dynasties. Here are more of the women's conference tournament winners and losers.

Photo of the day: 'This is not the end'

Crews started removing the large, yellow Black Lives Matter mural down the street from the president's home Monday. The city erected the artwork in 2020 amid sweeping nationwide protests over the death of George Floyd, a Black man killed by Minneapolis police. The city says it plans to replace the mural.

Nicole Fallert is a newsletter writer at Paste BN, sign up for the email here. Want to send Nicole a note? Shoot her an email at NFallert@usatoday.com.