Welcome to the beat. I'm Ari Melbert, and we are tracking these volatile markets. CEO is now calling it a Trump recession. There's mounting revolts over the flailing tariff plan. Opposition is getting louder from MAGA allies, from top Republicans, from these Wall Street leaders. And coming up, we have a special report on MAGA voices who've been losing money.

So we're going to get into that.

But all eyes are on the new tariffs that drop from Trump tonight, which have also been dropping the markets.

So this backlash, what happened today was up and down, while still down trillions overall, since this all kicked in middle of last week.

And then by the end of it,

you're going to see sinking to new lows. It is 3 a.m. in Beijing, where according to the White

House, in just nine hours, the world's second biggest economy will be blasted by President

Trump's tariff bazooka. We're living in crazy town right now,

and the markets are swinging wildly. There's extreme volatility. After trillions of dollars

wiped out in a days-long tariff spiral, U.S. markets are starting to bounce back.

You know, obviously the markets remain volatile. Stocks are surging today following a volatile

session yesterday. The tar of turmoil is prompting

economists to revise up their recession probabilities. You outlined just how dramatic the open

has been in Europe this morning. It's not overstating it to say it's carnage or a bloodbath.

Carnage, bloodbath, new lows after what were new lows. So you know the old expression about

not being a day trader.

That's generally a negative because you have to look at long-term realities and not the hourly

reverberations. But if you were a day trader, today was another bad day coming off several days

where we've lost over $6 trillion. I mentioned you coming up and you see it

on your screen that we have this MAGA buyer's remorse segment where we look at in a special

report how some prominent MAGA voices are talking about the millions they're losing and telling

their audiences about that. So we're going to get to that, which has political implications. But first, as we are going to continue to do as long as this is the big

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