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From CBS News headquarters in New York, this is the CBS Evening News. Good evening. I'm Maurice Dubois. I'm

John Dickerson. The reality of President Trump's trade war sank in today. And the financial markets

sank with it. After yesterday's market rally, fear and uncertainty returned, sending stocks lower

again. The Dow lost two and a half percent. The S&P, nearly three and uncertainty returned, sending stocks lower again.

The Dow lost 2.5%, the S&P, nearly 3 and a half, and the NASDAQ fell more than 4%.

It is becoming increasingly clear that this is a trade war principally between the United States

and China, and both sides are digging in. It only got worse when the White House revealed

the U.S. tariff on China is even higher than first announced. The president says he is ready

to talk to the Chinese, but even though they export millions of phones to the U.S., they are not

ready to pick one up to call, Mr. Trump. We begin tonight with Nancy Cordes at the White House. Nancy?

Maurice, the president may have imposed a 90-day pause on many of his new tariffs, but he did not

pause the ones on China. In fact, he pushed them even higher. And those triple-digit tariffs are

already starting to take a toll on the thousands of U.S. businesses that import

goods from America's third largest trading partner.

...