This is CNN breaking news.

Welcome to lead. I'm Phil Mattingly in for Jake Tapper.

It has been 25 hours now since Donald Trump unleashed terrorists at a level the world hasn't seen in a century.

Companies, investors, American consumers just now starting to get their heads around things.

The administration's intentionally radical move to change global trade has the stated goal of leveling the playing field for American workers and businesses forcing more American production and jobs. But economists say it's not that simple. And there are early indications that the economy here at home is in a little bit of trouble

right now, starting with the stock market.

Global markets, you can see them right there, closed sharply down.

The Dow, S&P 500, and NASDAQ posted their biggest single-day drop since 2020.

And here's a look at US futures, pre-market trading.

It is obviously TBD if markets continue in this direction ahead of trading tomorrow.

The U.S. dollar also wiped out all gains that has made since President Trump was reelected in November.

Then there's the expected impact on everyday goods. The nonpartisan tax foundation finds

the tariffs will cost the average American household $2,100 more per year for goods.

And if you're wondering if there's a chance of Trump administration could, you know,

back down on the tariffs in response to any serious and sustained economic pain,

well, two of his top officials insisted no.

And then Trump said this.

I think it's going very well. It an operation like when a patient gets operated on the markets are going to boom the stock is going

to boom the country is going to boom and the rest of the world wants to see is there any way

they can make a deal we start things off as CNN's Vanessa Yerkevich.

Vanessa, let's start with the question that just has to be on everybody's minds right now.

Cost of living. How much is this going to cost people every day?

...