I'm Ari Melbert. Our top story is President Trump on defense over the plunging and volatile economy.

This story keeps kicking. America's largest companies are down all of them in the market since the Trump tariff war began.

It's a swift toll that we've seen first on Wall Street. Trillions wiped out in days. But it is heading for Main Street.

And I'm going to show you why tonight because we're seeing new indications from big box stores to malls, and we know it's coming for

Main Street for a few reasons. I always try to give you the evidence, show you why we know what we

think we know, and here it is. First, there's detailed data on the inventories and supply chains.

So it shows when American stores will be

running out of these products, many of which have some foreign ingredient in them, and they're

running out of what was purchased before the tariff war began. Second, some of America's largest

companies track all of this because it's their whole business and

expertise. This is what they do. So they're all over it. And they are now formally warning about

the coming Trump slump any way they can, which includes what I'm about to show you, the largest

employer in America, Walmart, which has over a million and a half employees. They employ more Americans than any

other company. And the Walmart chief just joined an attempted Trump tariff intervention,

along with the CEOs of the other huge retailers, Target and Home Depot, to privately warn Trump

that his tariffs, let's take this in full, I want people to be able to see this,

his tariffs, you can read along, the tariff and trade policy will not only disrupt supply

chains and raise prices, it will lead to empty shells. Now that's big. If people were upset

over, say, high prices during the inflation years that we had,

imagine high prices and basic products also being wiped out, echoing the empty shelf panic of the

pandemic that we all remember in Trump's first term. Well, empty shelves are an unpopular outcome.

It impacts people's lives, their ability to plan,

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