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Hello from CNN. I'm Joe Beck, with the five things you need to know for Monday, April 7th.

President Donald Trump says tariffs are here to stay, and markets around the world are reacting badly. U.S. stock futures

fell yesterday after two sessions of sell-offs that wiped away more than $5.4 trillion in market

value.

It's expected they'll open sharply lower today, and Asian markets have already tanked.

CNN's Christie Luce Stout has more on that from Hong Kong.

Yeah, Joe, Asian markets plunged this Monday with deep losses across the board.

Last week, U.S. President Donald Trump announced at least 10% tariffs on all imports,

and today, Japan's Niki closed nearly 8% lower. Markets in Hong Kong, as well as South Korea and

Australia, also took a dive. The Japanese Prime Minister said he'll continue to ask Trump to lower

tariffs against Japan, but China is taking a stronger stance, striking

back with 34% reciprocal tariffs on U.S. imports starting April the 10th.

European stocks also tanked at opening this morning.

And oil prices have been falling, as investors worry tariffs could push the global economy

into a recession that would cut demand for activities

that need fuel, like flights, shipments, transportation and travel. But Trump claims he's had

nice calls from investors and world leaders, while insisting that tariffs are good for the US.

...