A 68-year-old woman is undergoing mitral valve replacement for severe mitral regurgitation. After uneventful induction of anesthesia and placement of a large bore central venous introducer and pulmonary artery catheter, her blood pressure decreases to 70/30 mmHg after the administration of cefazolin. Her heart rate is 80 bpm in normal sinus rhythm, but peak inspiratory pressures are increased. Erythematous patches are noted on her thorax after the drapes are removed. Which of the following is the MOST appropriate initial intervention?

A) Epinephrine 20 mcg IV bolus
B) Rocuronium 20 mg IV bolus
C) Withdraw pulmonary artery catheter
D) Perform needle thoracostomy