Marketplace Morning Report

The Trump administration has launched the new TrumpRx website, where people can shop for prescription drugs at discounted rates. The site, a hub that points cash-paying customers to five participating manufacturers' websites, went live yesterday. We dig in. Then, it's been a bumpy week for markets. What should we make of it? Plus, we speak with a Minneapolis restaurant owner who says sales are down 50% due to ICE's crackdown in the city.

Software companies are in trouble. Or at least their stocks are. Salesforce is down 25%, and Intuit is down 31%, after startup Anthropic released a new tool sparking fear among investors that software companies are in danger of becoming obsolete. We'll learn more. Then, all kinds of cryptocurrencies are cratering in value, and we'll hear what it's like to be a small business in an anemic job market.

From the BBC World Service: Japanese voters will give their verdict on the government of Sanae Takaichi this weekend after Japan's first female prime minister called a snap election just months into her first term. How is the economy there shaping the election? Plus, Cuban President Miguel Díaz-Canel says his government is trying to solve an energy crisis exacerbated by U.S. sanctions. And we check in with a company on a tiny Scottish island that produces an essential piece of Winter Olympics equipment.

Treasury Secretary Scott Bessent will be on Capitol Hill again today for another grilling. He’s scheduled to appear before the Senate Banking Committee. Yesterday, Bessent appeared before the House Financial Services Committee to talk about oversight of the U.S. financial system, where he sparred with Democrats. And later in the program, wages are making up a shrinking share of overall income. Also: discussions of Fed independence, inflation, and more.

News Corp — the parent company of The Wall Street Journal, Barron's, MarketWatch, and Fox News — announces quarterly profits today. Meanwhile, The Washington Post laid off a third of its staff yesterday. Today, we'll delve into the state of the media industry and why it's such a struggle to find a business model that works. Then, Amazon Fresh and Amazon Go is closing up shop. What went wrong with Amazon’s foray into physical stores?