US Chief Justice John Roberts broke his silence on Donald Trump’s intensifying attacks upon America’s third branch of government as his administration inched closer to triggering a constitutional crisis. The last straw for Roberts, a Republican-appointee who in 2024 helped broadly expand presidential immunity, apparently was the 78-year-old president’s invective-filled call for the impeachment of a veteran federal judge hearing a challenge to forced deportations under the Alien Enemies Act.

“For more than two centuries, it has been established that impeachment is not an appropriate response to disagreement concerning a judicial decision,” Roberts said. “The normal appellate review process exists for that purpose.” The chief justice’s historic rebuke came after Trump—himself a convicted felon twice impeached for high crimes and misdemeanors—attempted to paint James Boasberg, chief judge of the US District Court for the District of Columbia, as being politically biased.  

Hundreds of men the US alleges to be Venezuelan gang members were deported by the Trump administration to El Salvador over the weekend. Photographer: Anadolu

Boasberg on Saturday issued an order to stop deportations under the 1798 law, which requires the nation to be at war or under invasion, neither of which is the case. At the same time, family members of some of those deported reportedly said their relatives—now in a notorious El Salvador prison—aren’t even gang members.

The law, which does away with due process requirements such as charges, evidence and a hearing, was last used to justify the internment of Japanese-Americans during World War II. On Tuesday, Trump’s Justice Department again refused to answer some of Boasberg’s questions about the deportation flights. The judge didn’t press government lawyers further, but agreed to their request to file details under seal. —Jordan Parker Erb and David E. Rovella

What You Need to Know Today

Vladimir Putin declined to commit to a ceasefire in his war on Ukraine, instead agreeing to limit attacks on Ukrainian energy assets. According to the White House, the Kremlin leader and Trump agreed to “an energy and infrastructure ceasefire” and will immediately begin negotiations on a “maritime ceasefire in the Black Sea.” (In defending itself against Russia’s full-scale invasion, Ukraine has seen some of its greatest battlefield success targeting Russian energy infrastructure and ships on the Black Sea.) Still, Putin imposed several conditions for a lasting ceasefire, including suspension of arms and intelligence support for Ukraine. Ukraine must also stop mobilizing new recruits, Russia said. Critics of Trump’s efforts to meet Putin’s terms note the new requirement would allow Russia to rearm while a battered Ukraine could not. For its part, Ukraine was nonplussed. Separately, Trump has made several moves that will make the prosecution of Putin, wanted in The Hague for alleged war crimes tied to the forced deportation of Ukrainian children, more difficult.

Vladimir Putin, left, and Donald Trump in 2018 Photographer: Mikhail Svetlov/Getty Images

JPMorgan’s stock traders are facing a windfall after a chaotic run in the stock market triggered by Trump’s frenzied tariff threats. The bank is said to be on track to boost revenue from equities trading by more than 30% this quarter from a year earlier. If the trajectory holds, JPMorgan would surpass its $3.3 billion record set four years ago. Such a trend could spell even bigger bounties at Goldman Sachs and Morgan Stanley, which typically vie for the industry’s stock-trading crown.

In some more grim news for the US stock market, investors have slashed holdings of US equities by the most on record, according to the latest Bank of America survey. Fund managers reported being about 23% underweight in US stocks—a plunge of 40 percentage points from the previous survey. It’s a dramatic shift that shows how quickly traders have ditched their optimism about American markets. with the S&P 500 tumbling some 8%from an all-time high in February. Tuesday didn’t provide any help, either. Heavy selling resumed in Wall Street’s largest technology companies, with American shares snapping a minor two-day rebound. Here’s your markets wrap.

Inflation in Canada grew at the fastest pace in eight months, further limiting the central bank’s ability to cut interest rates amid a US trade war that will both slow economic growth and boost prices. The consumer price index rose at a 2.6% yearly pace last month, the highest rate since June and up from 1.9% in January.

Sequoia Capital is poised to deliver a return of about 25 times its invested capital from Wiz’s pending sale to Google parent Alphabet. Alphabet agreed to buy the cybersecurity startup for $32 billion in cash; Sequoia is set to reap about $3 billion from the sale. Another Wiz backer, Greenoaks Capital Partners, is poised to secure about $2 billion from the transaction. Wiz will join the Google Cloud business after completion of the deal, which would be Alphabet’s largest to date. Wiz’s platform aims to prevent cybersecurity breaches in the cloud.

Nvidia will team up with General Motors to help develop self-driving vehicles and work with the telecom industry on new 6G networks, it was announced. At the company’s annual GTC expo in California, Chief Executive Officer Jensen Huang said Nvidia would work with GM to use AI in next-generation cars, factories and robots. For the wireless project, Nvidia will help create “AI-native” wireless network hardware for new 6G networks, the successor to today’s 5G. The partnerships come at a pivotal time for Nvidia, as investors begin to question whether the company’s stratospheric growth is sustainable.

Jensen Huang, co-founder and chief executive of Nvidia, speaks during the Nvidia GPU Technology Conference. Photographer: David Paul Morris/Bloomberg

What You’ll Need to Know Tomorrow

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