top of a brand new hour on cnn newsroom. goold good to have you with me. i m victor blackwell. plunging stocks, rising prices, recession fears. the s&p 500 entered bear market territory, dropping 20% from recent peaks. one bear market in the last 50 years was not accompanied by a recession. cost of living keeps rising, home prices are driving rents to a high. 17% from last year. gas prices are soaring. the national average, 4.59 per gallon, $0.30 more to fill up the tank than the day before russia invaded ukraine. let s start with the s&p 500 now into bear market territory today. what could that mean for the economy at large? well, victor, this is a flashing red light about the u.s. economy. if the s&p 500 closes below 38
record for gas prices as the offering price for a gallon increases to 4.59. how high will prices go and what s it going to take to bring it back down? we ll speak with oil industry expert bill flynn about that. gillian: in ukraine, hundreds of orphans from the war are making their way to poland. and we will be joined from lviv to talk about this incredible program.
lowest since november of 2020. the average gas price already topping $5 a gallon in five states. california, it s over six. madison alworth is in new jersey where drivers are fuming. madison? charles, we have hit a national record high gas price for the 11th day in a row. there s no signs of slowing when it comes to these prices. the national average is $4.59 per gallon. that is up 10 cents from a week ago and 50 cents from a month ago. some drivers are making choices to avoid the pump. i spoke to an uber driver that is choosing to make less money over fears of the high gas prices. so what i do, i try to work weekends only now. because the week days it s slow. instead of wasting gas, i cut
states? you look at the crises he is facing here, our gas hit another record high yesterday. it s 11 days in a row. today the price for an average gallon of gas is about 4.59. yesterday it was a penny cheaper. last year it was 3.04. it s gone up a buck and a half in the last year. ainsley: that s interesting because the energy secretary was being interviewed in a hearing in the armed services committee hearing and the senators were asking her questions about this and saying is this acceptable? and she is saying no, no, no. you can thank vladimir putin for this. she was blaming putin for the policies and for high gas prices and then josh hawley said this is nonsense. steve: also, they interviewed the interior secretary. ainsley: i m not finished. steve: okay. ainsley: to your point about gas prices he said in january of 2021 the average gas price in my
but it was good to see the actors get other jobs. ainsley: did you watch the golden girls ? did you watch who s the boss ? did you watch growing pains ? brian: not really. at that point, i was probably hanging out in the woods with my friends. steve: there you go. brian: meanwhile, how about international affairs? president biden is in south korea as he looks to divert attention away from the crises here at home. ainsley: for one, the national gas price average has surged to a record high of $4.59. record high 11 days in a row. steve: that s right, our white house correspondent jackie heinrich is traveling with the president and joins us from seoul, south korea this evening there. when the going gets tough, the tough goes to south korea to change the subject. well, that is certainly what a lot of the president s critics are saying, steve, good morning to you, steve, ainsley and brian. on his trip, he toured this