The fancifully named Department of Government Efficiency is grounded in a fundamental misapprehension of how the federal government works. The recklessness and destruction is not a bug but a feature.

Tesla warned of the hit to its bottom line from tariffs, while SpaceX complained that foreign trade barriers affect its Starlink internet satellite service.

Financial markets were in a tailspin after Trump fired thousands of federal employees and slapped tariffs on imports. Here's what could come next.