Shares of Block Inc. sank the most in more than five years after the digital-payments company led by Jack Dorsey posted first-quarter results below analysts’ estimates and lowered its full-year profit guidance as a result of a more challenging macroeconomic environment.

Block's shares fell 22% on Friday and were on track for the biggest intraday decline in five years after a 2025 profit forecast cut raised concerns about the payment firm's key businesses.

The parent company of Cash App and Square noticed changes to consumer spending as a result of the macro environment.

A federal judge on Friday issued a permanent ruling barring the Trump administration from implementing an executive order targeting the law firm Perkins Coie.

A federal judge has blocked a White House executive order targeting an elite law firm, dealing a setback to President Donald Trump’s campaign of retribution against the legal profession

Judge Beryl Howell blocked President Donald Trump's executive order against Perkins Coie, calling the effort to target its lawyers "cringe-worthy."