0 love you for being with us on "new day." now time for "newsroom" with carol costello. >> thank you i'm honored. "newsroom" starts now. good morning. i'm carol costello in "newsroom." we're on wall street as the opening bell rings. america asks the question why did the dow plunge 7% in the first month of the new year? let's break that down. the average american started this year with a 401k with joust over $100,000. by the closing bell yesterday, that nest egg shrank to $95,000. most 401k saw healthy returns in 2013. take a breath. i bet you're not feeling good now, right? christine romans is tracking the futures. what are they looking like christine? >> 30 minutes before the poeopeg bell and it looks like they're higher. there has not been a meaningful correction in the s&p 500 in almost two years. when selling came carol, it was ferocious. it was a brutal day on wall street. dow plunging 326 points monday, down 7% since the beginning of the year. the drastic drop sparked by a weak manufacturing report and disappointing sells from big auto makers like gm, ford, toyota. for many the selloff isn't surprising. here's why. stocks can't go up forever. after last year's huge rally, many call this an expected correction. >> i don't think this correction is over. the last time around i talked about a correction it was sort of like waiting for gudo. >> second there's a new leader at federal reserve. janet yellen is picking up where bernanke left off and has to pull billions out of the economy without derailing. turkey, south africa and others are in shaky conditions. dozens of companies have put out weak earning forecasts. translation, lack of confidence. for those reasons, selling may continue. how much? many predict the markets need a staggering 10% decline from recent highs. they say lows will be brief and stocks could rise in 2014. for now, buckle up and get ready for a bumpy ride. >> just how strong is the u.s. economy? it's going to be hard to tell carol. this terrible weather is going to make the economic data look crazy. here's perspective for you. if you like at the dow jones industrial or s&p 500 back to march 9, 2009, look at that. s&p 500 up 157%. just that little tiny dip lower on the far right of that screen, that's what speeexperienced. >> chill and be patient right? >> chill and be patient, a technical economic term. >> i'll take it. thanks so much. on a talk radio show, chris christie faced voters for the first time since the bridge gate scandal erupted. he says despite growing questions about his role, his answer remains the same. >> the most important issue is, did i know anything about the plan to close these lanes? did i authorize it? did i know about it? did i approve it? did i have any knowledge of it beforehand? the answer is still the same, unequivocally no. >> christie's appearance is part of the call in show call "ask the governor." it comes after o days after wildstein claims kick knew about the lane closures ahead of time. another snowstorm could bring a paralyzing 30 inches of snow. a nasty mix of rain and snow falls from the midwest through the northeast today into tomorrow morning. this follows the record of eight inches that fell in central park monday. forecasters are calling for nine additional inches through wednesday. is this the worst winter ever, chad myers? >> not in california. it's 10 degrees above normal. the ridge in the west and trough in the east. it has been cold. they're trying to find punxsutawney phil to make him change his mind. snow is in kansas city and wichita. colder on the east side of the rockies, same as its been. warmer on the west side of the rockies. winter storm warning through tomorrow. new york city doesn't get a snowstorm. new york city gets an ice storm. it's in kansas, parts of eerie, buffalo, syracuse and upstate new york into maine. south of there where we are here, it will be an ice event. ice in baltimore, philadelphia, washington d.c., all the way up to new york city. some ice could be devastating, talking maybe half an inch in darker regions. that will put stress on power lines, and some will fall because of extra weight. there goes the storm. this is the first one, the small one. the nor'easter that its on sunday is the one that could put 30 inches of snow somewhere. still five days away. i don't know where. some where will have 30 inches of snow. somewhere. >> somewhere in the country. seriously in some parts of the country, people are asking is this the worst winter ever? >> certainly for snowfall totals in chicago and other parts that have had such cold air. we haven't seen lakes froze like this, at least in 20 years. is it the worst winter ever? no, not yet. it isn't the end of winter. we still have spring six weeks away. that is not even punxsutawney phil. that's the calendar. we have a lot of winter to go. >> chad, thanks. a teach ere is waking up in jail after a former student's shocking allegations against her in a youtube video. >> i was 12 years old when i met you. do you realize you brainwashed me and manipulated me? what you did was wrong? >> yes. and i regret it. >> are you doing this with other students too? >> no. >> is that how you help them? >> no. >> you should be so ashamed and disgusted with yourself. >> i am. i am. >> the voice you hear on the phone is said to be that of 40-year-old andrea cardosa, that woman on your screen. she was arrested monday night and is facing 16 felony counts of child sex abuse. jamie is the goiirl that postedt on youtube. she's gratified and says justice will be served. there's details on the evening before the actor was found dead. he was surrounded by drugs with a needle in his arm, he withdrew money. it's the latest details into what appears to be descent into his addiction. michelle turner has more for you. >> this eerie and chilling photo taken two weeks before his sudden death may be one of the last taken of the oscar winning actor. new york police say they found nearly 50 envelopes containing what they believe to be heroin insi inside hoffmann's apartment. labeled with the name ace of spades. several other bags containing white powder and prescription drugs as well as syringes. police are trying to post together his final moments. his saturday beginning here at the local coffee shop. >> seemed in good spirits. seemed happy, typical chatting with staff. >> his assist ant spoke to him on the phone and said nothing seemed out of the ordinary. half an hour later t actor's ex partner and mother of his children told them she saw hoffmann near his apartment where he appeared to be, quote, high. hoffmann had dinner at this local restaurant with two friends. >> i had heard he relapsed recently. it is not a total shock. it's a sad thing. >> at 8:30 that night, she spoke to him on the phone. the next morning around 9:00 expected to pick up their three children but never showed. his friend was called to check on him. at 11:00 a.m. he was found in the bathroom of his fourth floor bedroom apartment. minutes later he was pronounced dead. >> there was a laundry list of prescription drugs found in hoffmann's apartment including blood pressure medication, muscle relaxer and medication to treat addiction, attention deficit disorder and anxiety. investigators are trying now to determine whether the actor had prescriptions for these drugs. they also are trying to determine where he exactly bought the heroin and if anyone was with him when he died. >> we're still a waiting results on his autopsy as well. michelle turner, thanks to you. a bomb shell from corner back richard sherman. if you're wondering why the broncos lost so badly. sherman has the answer. he says he and his teammates were able to fig your out peyton manning's hand signals. they were calling out plays throughout the play and getting them right. manning through two interceptions including one that was returned for a touchdown. maybe the omahas did him in. it made rating history. 111 million watched the game, making it the most watched television program of all time. the broncos performance made david letterman's top ten list. >> top ten things overheard during the super bowl. number ten, when does the game start? number nine, that's a pretty nice day here in new jersey. when does the game start? number eighth, we should have endorsed christie. number seven, i hope no one is watching. number six, this is worse than my honeymoon at the late show. what? yeah. number five, who's that hunk in the fur coat? number four, i can't believe they wasted all that gatorade. number three, eli will motivate us. number two, too much pregame colorado weed. number one thing overheard on the broncos sidelines during the super bowl, this is how the jets feel. there you go. >> and the lions and browns, we could go on and on. the super bowl played out on twitter and facebook. americans sent more than 25 million game related tweets over the course of the broadcast. wow. still to come in the "newsroom," is water in west virginia safe to drink? the u.s. senate is holding a hearing to examine the chemical spill that left hundreds of thousands in the state without water for days. we'll talk to west virginia secretary of state about new water concerns in west virginia after the break. 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