And welcome to the Jim Acosta show. It's Tuesday, April 8th. Joining me right now is Justin Wolfers.

He's a professor of economics at the University of Michigan. Really appreciate you doing this.

I do want to just get people caught up with what's happening right now. We're all keeping our eye on the Dow, on the markets, on Wall Street.

It looks like it's going to close down about 300 or so points.

And, you know, I was thinking of the quote from Dumb and Dumber. It feels sort of appropriate

today when the actor Jim Carrey says, so you're saying there's a chance. Investors, big CEOs,

other Titans of Wall Street are all hopeful that Donald Trump will change

his mind and just back down.

And we saw a little bit of that earlier today when the market took off in the morning,

it went up over a thousand points and then things kind of cooled back down.

So investors went hunting for deals, but then the markets fell again.

It appears to be no let

let up in sight and Trump's quest to impose tariffs on the global economy. And there's lots of pain

to go around. The Wall Street Journal put it this way. A big bounceback rally stalled on Wall Street

with volatility picking up in the afternoon and a broad retreat from intraday highs, short-circuiting

a brief celebration of increased trade clarity.

Justin, help us figure this out.

You're a professor of economics.

You were just telling me before we got started here that you're a popular man these days.

Lots of folks like me are reaching out to you and saying, what the hell is going on?

So I'll start there.

What the hell is going on?

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