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Trump's pick to lead markets watchdog faces Senate amid agency tumult

(Reuters) -Paul Atkins, a former Wall Street regulator whom President Donald Trump has tapped to run the U.S. Securities and Exchange Commission, is set to testify at a Senate confirmation hearing on Thursday at a time of major change at the agency and across the federal workforce. Jonathan Gould, Trump's nominee to supervise the largest U.S. banks as comptroller of the currency, is also set to appear, along with Luke Pettit and Marcus Molinaro, Trump's picks for senior roles at the Treasury and Transportation departments, respectively. In prepared remarks released Wednesday, Atkins avoided addressing White House efforts to slash the SEC's workforce as part of broader government cuts, instead pledging to deliver regulation that would benefit the crypto industry and prevent "overly politicized" regulations from stifling free enterprise.

S&P 500 ends lower as investors digest Trump's auto tariffs

(Reuters) -The S&P 500 ended lower on Thursday, as investors grappled with U.S. President Donald Trump's latest trade tariff announcement that hit shares of General Motors and Ford. Trump unveiled on Wednesday his plan to implement a 25% tariff on imported cars and light trucks effective on April 3, while the duty on auto parts begins on May 3. Investors are also bracing for a wave of reciprocal tariffs Trump plans to unveil on Wednesday, although the president has hinted there may be room for flexibility.

Hedge Funds Scoop Up Cyclical Stocks as Tariff Fears Swirl

(Bloomberg) -- Hedge funds have started to snap up the shares of economically sensitive companies that had cratered over the past month as recession worries rocked US stock markets.Most Read from BloombergThey Built a Secret Apartment in a Mall. Now the Mall Is Dying.Why Did the Government Declare War on My Adorable Tiny Truck?How SUVs Are Making Traffic WorseTrump Slashed International Aid. Geneva Is Feeling the Impact.These US Bridges Face High Risk of Catastrophic Ship StrikesLast week, they