Wall Street thought the stock market would act as a check on the president. It's not panning out.

The U.S. stock market is sinking further Tuesday after Trump raised the stakes in his trade war, pulling Wall Street more than 9% below its record set just a month ago.

Elon Musk, who is leading the Trump administration's effort to cut and streamline the federal government's workforce, visited the National Security Agency on Wednesday to meet with the NSA's head, a spokesperson for the agency told Reuters.

The findings come as federal workers terminated at the behest of Musk voice their displeasure at town halls across the country.

U.S. Postmaster General Louis DeJoy told Congress he signed an agreement with Elon Musk's DOGE government reform team to provide assistance to the money-losing agency as it works to address "big problems.