Hi, everyone. It's 4 o'clock in New York. We begin with breaking news. Financial markets today

roiled by Donald Trump and the chaos he has unleashed on the American economy. The Dow is down more than 2 percent, around 900 points today after

Trump, in an interview on Fox News, refused to rule out a recession. Watch those comments.

Are you expecting a recession this year?

I hate to predict things like that. There is a period of transition because what we're doing is very big.

We're bringing wealth back to America.

That's a big thing.

And there are always periods of, it takes a little time.

It takes a little time.

But I think it should be great for us. I mean, I think it should be great.

Should be great. Markets didn't think so, clearly disagreeing with that, spooked by what Trump called there a, quote, period of transition. All major stock indices are now below the levels they were when Donald Trump was inaugurated.

That may be one reason why in that Fox interview, Trump said this, quote, you can't really

watch the stock market, end quote, a sudden about phase from the kinds of things he said during

his first term when markets were his most favorite metric. Today's sell-off and investor concerns

are focused around one thing that Trump's policies, which often come with sudden and surprising

reversals, is sending the economy into a recession. New York Times reports this, quote,

President Trump inherited an economy that was by most conventional measures, firing on all cylinders, wages, consumer spending, corporate profits were rising, unemployment was low.

The inflation rate, though higher than normal, was falling.

Just weeks into Trump's term, the outlook is gloomier.

The sudden deterioration in the outlook is striking,

especially because it is almost entirely a result of Trump's policies and the resulting uncertainty.

Tariffs and the inevitable retaliation from trading partners will increase prices and slow down growth.

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