just in time for travel season. inflation is higher overall thanes within decades. baby formula is hard to find. the economy added more than 400,000 jobs last month and the unemployment rate is at pre-covid levels. let s try to figure out where we are right now. we begin with christine romans. it seems like there s nothing but storm clouds on wall street. there is so much going on and so much chaos, really. i keep saying there are so many cross currents in the global economy, any one of them would be destabilizing. there s a half a dozen. you talked about the higher prices, the chip shortage, covid lockdowns in china. war in ukraine. war in ukraine and that s going to be a big dpeel some time. that means energy prices. for investors if you re looking at your 401(k), you know this. eight weeks in a row, the longest losing streak for the dow since the 20s. that s not great. the nasdaq stocks just hammered. you look at apple, meta, some of these widely held stocks. the bi
learning new details about his life. welcome to new day . it is saturday, may 21st. we re thrilled that you are starting your weekend with us. good morning, amara. good morning to you, boris. thank you, everyone, for joining us today. with he begin with the nationwide plight, testing the most basic function of parents. the ability to feed their child. the baby formula shortage is throwing the white house into crisis mode as parents face empty shelves. the situation is so severe, not only has the president invoked a war-time measure to increase production, but now a military plane will be used to carry formula from overseas. the defense department ordered the first flights to leave this weekend from germany. and just this morning, president biden signing a new bill into law in response to the severe shortage. it allows the waiver of certain program requirements in the special nutrition program for women, infant and children, also known as wic. they are trying to expla
a meeting with the north korean dictator, kim jong-un. the president took part in a wreath laying ceremony to pay his respects to fallen korean soldiers who died fighting alongside u.s. forces in the korean war. cnn white house correspondent jeremy diamond in seoul with the president. jeremy, this announcement about joint military exercises, this is yet another example of president biden reversing what president donald trump had done. reporter: yeah, no doubt about it, alex. what we re seeing from president biden on this trip to seoul is a return to foreign policy in tis region and attempt to deepen and tighten the cooperation between the u.s. and allies in the region, south korea and japan where the president heads next. this move announced in a joint statement between president biden and the south korean president yun indicates they are going to enter discussions to expand the joint military exercises. that is steep reversal from what we saw under president trump who down
this is not business as usual and shows how dire the situation has become. some families have turned to hospitals to help feed their children and that includes four babies in south carolina who could not tolerate other formulas when their usual product sold out. one estimate says at least 45% of formula products were sold out last week nationwide and hoarding is only making things worse. one woman in massachusetts filled a shopping cart full of baby formula and was confronted by another shopper. take a look. look at this. look at all this. i need it for my baby. look at the shelves. you don t think i need it for my baby, too. you take all the formula off the shelf. you come after me. i don t know you get this one. i m saying this is the whole reason there s a formula shortage. you come and buy all the formula at once and there are kids who need formula today who won t be able to get it because you just bought it to stock up. we ve got to work together on this. y
including as punishment in a psych ward full of criminals. so i was too worried about, you know, who was in the cell with me to actually sleep. you thought they might kill you? yeah, i thought that was a possibility. more from my exclusive interview with trevor reed, the u.s. marine veteran who is finally thankfully home. welcome to the lead. i m jake tapper. we start with our money lead and renewed fears of an economic recession as the markets closed moments ago. the dow finishing flat after a day mostly in the red. what s sounding alarm bells now is this is the eighth straight week of losses for the dow. that s the longest weekly losing streak since 1923. the s&p 500 and nasdaq also taking hits fueled by investors getting increasingly spooked about how high inflation is, messing with the u.s. economy. matt egan is live in new york for us. viewers are likely to see the words bull and bear market tossed around a lot. what does this mean in terms oour money, our sa