second quarter for infineon. back to the earnings story.e through with revenues at the second quarter of three point -- they expect to see revenues. they expect to see revenues in the second quarter of 3.6 billion euros. that is slightly above the estimates of 3.4 2 billion. in terms of the outlook, a brighter picture than had been expected. the third quarter numbers coming in with a beat in the first quarter with infineon revenues at 3.42. the estimates for three point two one billion euros. we know there's a focus on the inventories for the chipmaker. we have been speaking, anna edwards, to the cfo of that company. let's take a listen to that conversation reaction to the earnings. >> we call it gradual or modest recovery it is the electrification of cars in the third and china in the first six months are heavily impacted by the inventory correction of many of our customers be it on the automotive for the industrial side. we expect that inventory correction to phase out in the next month, and that is the core assumption for our yearly fore

you've got asml down more than 3%, asmae, stmicro and infineon all trading sharply lower this morning boardman's weston, the ceo and cio of brg wealth management, joins me now. dan, great to have you with us this morning. you know, on the one hand, we all talk about how we were bracing for tariffs. this was perhaps the number one topic around the new administration. and yet here we are heavy selling across global markets, across asset classes, suggesting that markets weren't priced for this. >> yeah i think that's fair. >> i think. >> the narrative had built up over the last couple of months that trump wasn't going to follow through with the tariffs, he was just. going to use as a threat for. his domestic. >> political agenda, and to try and get. >> some. concessions out of, well, some of. >> his long standing allies. >> and other countries. >> but clearly that's not the case. and he started the firing pistol on on a global. >> trade. war with. >> what he's. >> done with. >> with canada and mexico and china over the weekend. >> and what do you think of the market moves we're seeing to