Transportation stocks went sharply in reverse on Friday with the economic bellwether Dow Jones Transport average index falling more than 2.6% in its steepest daily loss since December 18 and its third consecutive decline,

Wall Street saw a dramatic drop on Friday with the Dow Jones plunging nearly 750 points, and the S&P 500 and Nasdaq falling sharply amid fears of a slowing economy and stubborn inflation. CNBC’s senior economic reporter Steve Liesman joins Saturday TODAY to break down what you need to know.

NEW YORK >> U.S. stocks tumbled today, extending their selloff in the wake of dour economic reports and closing the book on a holiday-shortened week fraught with new tariff threats and worries of softening consumer demand.

In starting a process to impose reciprocal tariffs on American trading partners, the White House is sowing uncertainty and risking inflation.

U.S. consumer sentiment dropped more than expected in February to a 15-month low and inflation expectations rocketed as households worried that President Donald Trump’s plans for steep and broad-based tariffs would eat into their purchasing power.

A burst of optimism among companies after Donald Trump won the U.S. presidential election has faded as business leaders grapple with potentially negative policies of the new White House.