Hello and welcome to your world business report from the BBC World Service, I'm Sam Fennick.
Global markets are in turmoil as investors react sharply to President Donald Trump's latest tariff measures,
who says he's not backing down.
This is not sustainable.
The United States can't lose $1.9 trillion on trade.
The ripple effects are being felt far and wide.
Coming up on the programme today, we'll assess the fallout from Asia to Wall Street,
to the European exchanges and what nations might do to counter the tariffs.
25% tariff on Korea is not fair and much higher than expected.
You're here from South Korea's former trade minister, who is encouraging dialogue with the White House.
Stay with us over the next 30 minutes.
First though, let's begin in New York where the markets have opened.
So, the opening bell there and a very volatile start.
Big falls and then a bit of a fight back.
Watching the reaction is Erin Delmore,
the BBC's North America business and economics correspondent joining us live from New York.
So, we're about an hour into trading now Erin.
How's it looking?
Sam,
this is so volatile as you mentioned that I just keep refreshing my screen here just to get the absolute very latest.