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Up First podcast from NPR. Live from NPR news in Washington, I'm Jack Spear. Stocks fell sharply today

as investors prepare for a rocky economic ride. NPR Scott Horsley reports all the major stock indexes extended their

big losses from last week as the Trump administration prepares to slap 25 percent tariffs on

imported steel and aluminum. The import taxes are set to take effect on Wednesday, just as the Labor

Department reports on inflation. The tariffs could put more upward pressure on prices.

In an interview with Fox News that aired over the weekend, President Trump was asked about the

threat of a recession this year. He refused to rule it out. One of the day's big losers on Wall

Street was Elon Musk's electric car company, Tesla, Musk, has been leading the administration's aggressive

cost-cutting efforts, which have already cost tens of thousands of federal employees, their

jobs. Scott Horsley, MPR News, Washington. The Dow fell nearly 900 points today. The NASDAQ lost

4%. Secretary of State Marco Rubio says Russia and Ukraine both have to make concessions

to end the war, and he's heading into talks with Ukrainian officials about what they might be

willing to do. NPR's Michelle Kellerman reports. As he flew to Jeddah, Rubio told reporters the

goal of the meeting Tuesday is to get a better understanding of the Ukrainian position.

We're not going to be sitting in a room drawing lines on a map, but just get a general sense of what

concessions are in the realm of the possible for them and what they would need in return,

and then find out what the Russian position is in that regard.

And that'll give us a pretty good assessment of how far apart we truly are.

The Trump administration stopped providing Ukraine with weapons and intelligence to put pressure on Ukraine to make a deal.

Rubio says the U.S. is also still hoping to sign a minerals deal with Ukraine, but says that is not the main item on the agenda in Saudi Arabia.

Michelle Kellerman in PR News, the State Department.

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