Former National Security Advisor Michael Flynn – in court today to plead guilty to lying to the FBI about his post-election Russian contacts – is prepared to testify Trump asked him to contact the Russian ambassador, according to ABC. Flynn will testify against Trump. This is a massive blow.

Flynn pleaded guilty on Friday to lying to the F.B.I. about conversations with the Russian ambassador last December during the presidential transition, bringing the special counsel’s investigation into the president’s inner circle.

The plea by Mr. Flynn, who appeared in federal court in Washington, is the latest indication that Mr. Flynn was cooperating with the investigation by the special counsel, Robert S. Mueller III, into Russian interference in the 2016 election. His plea agreement suggests that Mr. Flynn provided information to prosecutors, which may help advance the inquiry.

The White House had no immediate response on Friday to requests for comment on Mr. Flynn’s plea.

While Mr. Trump can point to the court documents and say they show no evidence of collusion with Russia, the special counsel’s filings so far paint a damning portrait of Mr. Trump’s associates. His former campaign chairman, two other campaign aides, and his former national security advisers have now all been charged with felonies.

Stocks are turning way south and twitter is lighting up.

Flat prior to the news, the major averages have turned lower, led by the Nasdaq’s (NASDAQ:QQQ) 1.1% decline. The S&P 500 (NYSEARCA:SPY) is down 0.9%, and the Dow (NYSEARCA:DIA) 0.8%.

Volatility is skyrocketing. We will have updates soon.

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