NBC News, CNBC and Axios reported that a federal judge in Florida ordered Trump on Thursday, Oct. 22, to sit for a deposition by Dec. 11 in his 0 billion defamation lawsuit against the BBC. Politico reported that the order covers a deposition Trump had canceled. CNBC reported that Trump's lawyers had asked for a deposition between Jan. 11 and Jan. 22. The Guardian reported that the judge threatened to dismiss the case unless Trump cooperates with discovery and sits for the deposition. The BBC reported that the suit concerns a Panorama episode that edited together two sections of a 2021 speech. Axios reported that Trump's lawyers say the edit was misleading. AP News reported that Trump filed the suit last December.
A deposition is sworn testimony taken outside the courtroom, and the other side's lawyers can ask about anything relevant to the case. In a defamation suit the plaintiff has to show that the statement caused harm, so the BBC's lawyers can press Trump on damages, his reputation and his own public statements. When a judge sets a deadline and attaches a dismissal warning, delay carries a cost for the person who filed the suit.
Most readers will never be deposed, but the case shows how a lawsuit works: a person who sues opens himself to questions under oath. It also bears on how news outlets edit speeches, which many Americans watch in short clips. If the case continues, parts of the testimony could reach the public through court filings.
Trump's side argues that the BBC's edit misled viewers, Axios reported, and that the broadcaster should answer for it in court. Its request for January dates, as CNBC reported, shows it wanted the deposition later than the judge allowed.
The BBC has pressed for the deposition to go ahead, and the judge's warning of dismissal, as The Guardian reported, supports the argument that a plaintiff who files a suit must take part in discovery like any other party. On this view the president's position as plaintiff carries the same obligations as anyone else's.
Confirmed: the judge ordered a deposition by Dec. 11 and warned that the case could be dismissed without cooperation. Not confirmed: whether Trump will appear by that date, whether his lawyers will appeal or ask for more time, or what he will be asked. Watch for a court filing that sets the deposition date and for any request to extend the pretrial schedule.
U.S. · Courts✓ 7 outlets · whether Trump appears by Dec. 11 not yet known
Judge orders Trump to sit for a deposition by Dec. 11 in his $10 billion lawsuit against the BBC
A federal judge in Florida set a deadline for the president to answer the BBC's lawyers under oath in his defamation case over an edited 2021 speech.
A federal judge in Florida ordered President Donald Trump on Thursday, Oct. 22, to sit for a deposition by Dec. 11 in his $10 billion defamation lawsuit against the BBC, NBC News, CNBC and Axios reported. A deposition is sworn questioning by the other side's lawyers that takes place before trial. Politico reported that the order covers a deposition Trump had canceled. CNBC reported that Trump's lawyers had asked for the deposition to be held between Jan. 11 and Jan. 22. Axios reported that the order will likely force the president to answer questions about the case under oath. The Guardian reported that the judge threatened to dismiss the lawsuit unless Trump cooperates with discovery, the pretrial exchange of evidence, and sits for the deposition by Dec. 11.
The lawsuit concerns an episode of the BBC program Panorama that edited together two different sections of a speech Trump gave in 2021, the BBC reported. Axios reported that the president's lawyers say the edit was misleading. NBC News reported that the suit seeks $10 billion. AP News reported that Trump, who has often avoided depositions, filed the lawsuit against the BBC last December.
Unfold the story and DailyDrop's take
Yahoo Finance reported that on Thursday, Oct. 22, the Nasdaq Composite fell 2.6% to 26,008.86, the S&P 500 lost 1.21% to 7,663.43 and the Dow Jones Industrial Average rose 11.89 points, or 0.02%, to 52,867.98. The New York Times reported that earnings from big technology companies spooked investors and that oil rose to its highest level in months. Bloomberg reported that Meta fell about 7% after raising its AI spending outlook and announcing a new stock class, and that Tesla cut its capital spending guidance. NBC News reported that fears of a U.S. or Israeli attack on Iran sent oil higher. Bloomberg reported that Brent crude topped 10 earlier in the day after the U.S. ordered some diplomats out of Saudi Arabia following deadly attacks. CNBC reported that defensive stocks rose as AI stocks fell. Yahoo Finance reported that the 10-year Treasury yield fell below 5%.
The Nasdaq Composite holds far more technology and growth stocks than the Dow's 30 companies, so a drop in a few large AI-linked names moves it more. Companies that spend heavily on chips and data centers need that spending to produce revenue, and investors react when guidance shows the bill rising first. Higher oil prices feed into fuel and shipping costs, and falling Treasury yields show money moving into government bonds.
If you own index funds or a 401(k), a one-day drop of this size shows up in your balance but does not change what you own. Gas and heating costs follow crude oil with a delay, so a sustained rise would reach household bills in the weeks ahead. A lower Treasury yield can also nudge mortgage rates down over time.
Investors worried about AI spending and oil see a market that was priced for good news. Bloomberg reported that earnings from Meta and Tesla failed to support the AI trade, and NBC News tied the sell-off to Iran war fears and high AI spending colliding. On this view, stocks that rose on AI hopes have little cushion if spending outruns revenue.
Longer-term optimists point to demand and to an easing of the conflicts. Bill Ackman told CNBC that 2027 will be an amazing year for stocks as wars and inflation ease, and Blackstone's Jon Gray said on Bloomberg Television that AI is not a bubble. CNBC reported that defensive stocks rose, which on this view shows investors rotating rather than leaving the market.
Confirmed: Thursday's closing levels for the three major indexes and Meta's drop of about 7%. Not confirmed: how oil settled for the day, since reports cite different benchmarks and times. Watch Friday's opening for whether chip stocks keep falling, whether Brent holds above 10, and any news from Saudi Arabia or Iran.
NBC News (sell-off and Iran fears, Oct. 22) · The New York Times (tech earnings and oil, Oct. 22) · Yahoo Finance (market close, Oct. 22) · CNBC (AI stocks and defensives, Oct. 22) · Bloomberg (Meta, Tesla and Brent, Oct. 22)
Nasdaq falls 2.6% and S&P 500 drops 1.21% as oil climbs and Meta slides on AI spending
U.S. stocks closed lower on Thursday, Oct. 22, with technology shares leading the decline, Yahoo Finance and CNBC reported. The Nasdaq Composite fell 2.6% to 26,008.86 and the S&P 500 lost 1.21% to 7,663.43, while the Dow Jones Industrial Average rose 11.89 points, or 0.02%, to 52,867.98, according to Yahoo Finance. The New York Times reported that earnings reports from big technology companies spooked investors. Bloomberg reported that Meta slid about 7% after raising its AI spending outlook and announcing a new stock class, and that Tesla cut its capital spending guidance. Yahoo Finance reported that chip stocks also fell, with equipment maker Lam Research citing supply chain constraints. NBC News reported that fears that Israel and the U.S. would attack Iran sent oil prices higher, and The New York Times reported that oil rose to its highest level in months. Bloomberg reported earlier on Thursday that Brent crude topped $110 after the U.S. ordered some diplomats out of Saudi Arabia following deadly attacks, and that Houthi attacks on Saudi Arabia were pushing oil higher. Bloomberg described the day as a bruising one for stocks as safe-haven assets rallied, and Yahoo Finance reported that the 10-year Treasury yield fell below 5%. CNBC reported that defensive stocks rose as AI stocks tumbled.
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