Hi there, everyone. It's now 4 o'clock in New York. Breaking news again today after Donald Trump's

damage to the U.S. economy comes into fuller view. The markets today, once again, taking a nosedive.

The Dow plunging 2,200 points, more than 5%. Even those good jobs numbers that were released this morning

could not shake the market's pessimism as China retaliated against Donald Trump's tariff regime.

The Chinese government imposed a 34% tax on all goods imported from the United States.

As for Donald Trump, he is for now tripling down.

Yesterday, he said things were, quote, going well.

Today, he said on his site, truth social, that China had, quote, played it wrong and panicked.

He added that the unemployment figures are a sign that his strategy is working, but those jobs,

numbers reflect the month before Donald Trump's so-called Liberation Day economic

meltdown was put into motion. It puts him at odds with the chair of the Federal Reserve,

Jerome Powell, who said today that the tariffs would raise prices for consumers and will weaken

the U.S. economy. It put him at odds with J.P. Morgan, who now predicts a 60% chance

of a global recession this year. Their report is titled, quote, there will be blood. The bank says

Trump's tariffs will cost consumers $700 billion this year alone. It's a tax hike on a scale that LBJ imposed to pay for the

Vietnam War. It also puts Trump at odds with members of the Republican Party. NBC News reports

this, quote, after the GOP-led Senate delivered a rare rebuke to Donald Trump on Wednesday by voting

to undo his tariffs on Canada. Lawmakers in both chambers

are weighing additional steps to rein him in. Senators are eyeing other mechanisms to rescind Trump's

existing tariffs while limiting his ability to impose new ones. Trump is also right now at odds

with the business community, which is preparing to pass on the cost of Trump's tariffs to the American consumers.

CNN reports this, quote, almost all consumer electronics, including smartphones and computer monitors, are likely to see price increases.

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