Hi there, everyone. It's now 4 o'clock in New York. Our job right now, as Americans, is to do two things.

Remember that we all have agency in this moment and in this situation. And two, trust our eyes and ears and everything we are seeing and hearing.

24 hours after Donald Trump intentionally detonated a bomb in the heart of the most resilient economy on the planet,

the sights and sounds of his failure to protect the American people's pocketbooks are everywhere.

The Dow today plunging nearly 1,700 points in reaction to sweeping tariffs that appeared to pull the rug out

from the post-World War II economic order, a baseline 10%

on every country, steeper tariffs on many of our biggest trading partners, China and Europe.

This is the biggest draw for the Dow's in September of 2022.

The impacts are being felt, and perhaps more importantly importantly will be felt well beyond Wall Street.

Automaker Stalantis today announcing furloughs for 900 workers who work in Michigan and Indiana.

And with practically every sector of the economy now bracing for disruption, the Associated Press is reporting this.

Quote, consumers could see overall prices

rising within a month or two of tariffs being imposed. For some products, such as produce from

Mexico, prices could rise much more quickly after the tariffs take effect. The cost, according to

White House Trade Advisor, Peter Navarro, $6 trillion over 10 years. What CNN calls, quote,

the largest tax hike in U.S. history. Adding this, quote, even when adjusting for inflation,

that amount would be triple the tax increase put in place in 1942 to pay for the cost of

fighting World War II.

This attack on every single American family's buying power and savings is where we start today with CNBC senior economic reporter Steve Leasman.

Leisman.

Steve, thank you.

I've been watching your clips all day as you've been talking with some surprise.

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