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Hey there from CNN. I'm Krista Bow with the five things you need to know for Monday, April 7th.

U.S. stocks were extremely volatile this morning amid growing fears over how sweeping U.S. tariffs

could disrupt the global economy. The S&P 500 opened in bare market territory this morning before

pulling back. If the index closes in bare market territory, which is a 20% decline from a recent peak,

that would be the second fastest peak to bear market shift in history.

I don't want anything to go down, but sometimes you have to take medicine to fix something.

That was President Donald Trump yesterday, digging in on his tariff strategy, which he said is designed

to rectify lopsided trade between America and its partners. As global markets slide, Trump's

urging patience and warning against panic. And eventually it's going to straighten out and our country

will be solid and strong again. The president said this morning countries from all over the world, including Japan,

are trying to negotiate the reciprocal tariffs set to kick in on Wednesday.

And Europe says this morning they're ready to negotiate,

with the EU president offering zero tariffs of industrial goods.

But investors are clearly not convinced by the wisdom of Trump's plan.

And the wild stock swings today show how badly they want Trump to pause the trade war.

J.P. Morgan Chase CEO Jamie Diamond warned today that the tariffs threaten to raise prices,

drive the global economy into a downturn, and weaken America's standing in the world.

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