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Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.

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As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.

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Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.

“I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.

Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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“What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”

Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.

Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.

kraken10
As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.

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Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.

“I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.

Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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“What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”

Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.

Tesla is bringing its electric cars to oil-rich Saudi Arabia amid falling global sales
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Tesla will start selling its electric vehicles in Saudi Arabia, entering the Gulf region’s largest economy as the company’s global sales are sliding and CEO Elon Musk courts controversy with his role in the US government.

The carmaker announced Wednesday that it would host a launch event in the kingdom on April 10, where it will showcase its EVs. Attendees will also have the chance to “experience the future of autonomous driving with Cybercab and meet Optimus, our humanoid robot, as we showcase what’s next in AI and robotics,” Tesla (TSLA) said.

Tesla may struggle to gain market share in oil-rich Saudi Arabia as EVs make up a little over 1% of all car sales in the country, according to a report by consultancy PwC published in September.
Tesla’s entry into the new market comes as the company fights battles on several fronts.

Last year, it recorded the first annual decline in sales in its history as a public company, posting a drop of 1%.

The company is facing intensifying competition in China, the world’s largest auto market. On Tuesday, BYD, a Chinese maker of electric and hybrid cars, reported $107 billion in annual sales for 2024, beating the near-$98 billion notched by Tesla.

And last week, BYD unveiled an ultra-fast charging system, which it said was capable of adding 250 miles (402 km) of range in just five minutes, easily outdoing Tesla’s charging technology. Tesla’s Superchargers take 15 minutes to charge an EV, providing a range of 200 miles.

Tesla has also suffered slumping sales in Europe. In February, the carmaker sold around 40% fewer vehicles on the continent compared with the same month in 2024, according to the European Automobile Manufacturers’ Association.

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Remote and rugged
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A more organic way to see this coast is by the multi-day coastal ferry, the long-running Sarfaq Ittuk, of the Arctic Umiaq Line. It’s less corporate than the modern cruise ships and travelers get to meet Inuit commuters. Greenland is pricey. Lettuce in a local community store might cost $10, but this coastal voyage won’t break the bank.

The hot ticket currently for exploring Greenland’s wilder side is to head to the east coast facing Europe. It’s raw and sees far fewer tourists, with a harshly dramatic coastline of fjords where icebergs drift south. There are no roads and the scattered population of just over 3,500 people inhabit a coastline roughly the distance from New York to Denver.

A growing number of small expedition vessels probe this remote coast for its frosted scenery and wildlife. Increasingly popular is the world’s largest fjord system of Scoresby Sound with its sharp-fanged mountains and hanging valleys choked by glaciers. Sailing north is the prosaically named North East Greenland National Park, fabulous for spotting wildlife on the tundra.

Travelers come to see polar bears which, during the northern hemisphere’s summer, move closer to land as the sea-ice melts. There are also musk oxen, great flocks of migrating geese, Arctic foxes and walrus.
Some of these animals are fair game for the local communities. Perhaps Greenland’s most interesting cultural visit is to a village that will take longer to learn how to pronounce than actually walk around — Ittoqqortoormiit. Five hundred miles north of its neighboring settlement, the 345 locals are frozen in for nine months of the year. Ships sail in to meet them during the brief summer melt between June and August.

Locked in by ice, they’ve retained traditional habits.

“My parents hunt nearly all their food,” said Mette Barselajsen, who owns Ittoqqortoormiit’s only guesthouse. “They prefer the old ways, burying it in the ground to ferment and preserve it. Just one muskox can bring 440 pounds of meat.”