China slaps new tariffs on US goods, the date's set for Zuckerberg's testimony, and more trending news

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U.S. stocks plunged on Wednesday, with the Dow sliding more than 500 points at the open, after China announced new tariffs on American goods, slapping 25% duties on 106 product categories including key items such as soybeans, airplanes and cars. The move comes after the U.S. threatened its own 25% tariffs on 1,300 product types — “the most aggressive challenge in decades to Beijing’s trade practices,” says The Wall Street Journal. Both plans target $50 billion worth of goods. China didn’t say when the new tariffs would take effect, but the U.S. plan “may never be imposed” if the two nations agree to a trade deal. ? Share your thoughts: #ChinaTariffs

Facebook's Mark Zuckerberg will testify before the House Oversight Committee on April 11. The CEO will answer questions about the company's treatment of member data in the wake of the Cambridge Analytica scandal, in which the political analysis firm allegedly accessed information from up to 50 million Facebook users. Zuckerberg has yet to respond publicly to invitations from two other congressional panels on the same matter, and refused to testify in the U.K. ? Share your thoughts: #ZuckWashington

A woman opened fire at YouTube’s San Bruno, Calif. headquarters, injuring three. The alleged shooter, identified as San Diego resident Nasim Najafi Aghdam, was found dead from an apparently self-inflicted gunshot wound. Police say there’s no evidence at this time suggesting she knew or specifically targeted the victims, who were taken to Zuckerberg San Francisco General Hospital. Authorities are investigating a motive for Aghdam, who had posted videos on the platform. ? Follow updates here: #YouTubeShooting

?CBS’s below-market bid for Viacom was “immediately rejected,” reported CNBC, with Viacom now set to make a counter offer. CBS wants CEO Les Moonves to lead the combined firm — but the two sides are battling over his second-in-command, with CBS COO Joe Ianniello and Viacom CEO Bob Bakish both in the running. “The network operators need each other,” says Bloomberg, as entertainment rivals consolidate to “neutralize subscriber losses.” ? Share your thoughts: #CBSViacom

?Target will open new small-format stores in New York and Chicago as part of its $7 billion strategy to blend brick-and-mortar stores and e-commerce. Smaller stores earn more per square foot, says Target CEO Brian Cornell, and cater to younger generation professionals in urban markets, an emerging demographic for retailers. Target plans 130 small stores across the country by 2019. ? Share your thoughts: #TargetGrows

Idea of the Day: You don’t need to spend tons of money on advertising or branding to achieve entrepreneurial success, says Creel Price. You just need a strong purpose.

“The answer to attracting staff, clients and investors and motivating them to work with you without a big budget is all about building a compelling philosophy — essentially, a method to your madness.”

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— Carmel Melouney & Katie Carroll & Jessica Hartogs / Share this using #DailyRundown