kate, the good news, i think, is what you were talking. >> about, to take a breath halfway through that suggests exactly how he feels about it. >> yeah. the good news, maybe, is what howard lutnick said yesterday afternoon. he was sort of hinting at maybe some sort of a >> points the s&p 500, only 0.4%. this is a very tiny rebound after what we've seen in the last few days because the dow plunged 1300 points combined on monday and tuesday. >> the s&p 500 has given back all of the post-election gains. look at this. we're back to election day right now. i think the the message from the market, kate, i think is pretty clear, right, that tariffs are dangerous and they're particularly dangerous right now because inflation is already a problem. everyone is very sensitive to higher prices. the federal reserve is worried about inflation. and listen the economy is already slowing down. it's hard to see how waging a trade war with your three biggest trading partners is going to help any of that. >> yeah. so if as president trump and his tariff team economic team want to argue that this is good for the american worker and the american people, they've got a lot of work to do to conv