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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.

President Donald Trump fired the nation’s top-ranking military officer, the Joint Chiefs of Staff Chairman Gen. CQ Brown Jr. It’s the first of many more job cuts expected with thousands of employees at the Pentagon now on the chopping block. NBC’s Yamiche Alcindor reports for Saturday TODAY.

New York Gov. Kathy Hochul announced that she will not remove embattled New York City Mayor Eric Adams “at this time.” The announcement comes amid pressure to remove Adams from office after he was indicted on corruption allegations. 

NBC News Homeland Security Correspondent Julia Ainsley joins Meet the Press NOW to discuss a new executive order from President Trump and the latest legal challenges to his administration’s immigration plans after an appeals court declined to reinstate his birthright citizenship executive order.

NBC News White House Correspondent Yamiche Alcindor, Senior National Security Correspondent Courtney Kube and Capitol Hill Correspondent Julie Tsirkin join Meet the Press NOW to report on President Trump’s latest cuts to the federal workforce and Senator Mitch McConnell’s (R-Ky.) retirement announcement.

Mitch McConnell, the 83-year-old former leader of Senate Republicans who served Kentucky for seven terms, announces he will not seek reelection in 2026. NBC’s Garrett Haake reports for TODAY on the reaction from fellow members.

Elon Musk drives home his rapid shredding of the federal government by hoisting a chainsaw representing the slashing of jobs and spending during a conference. Some Republicans are facing pushback from constituents over Musk and President Donald Trump’s vision. NBC’s Peter Alexander reports for TODAY.