U.S. stocks tumbled on Friday, 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.

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.

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,