victory. live from cnn center, this is cnn newsroom with john vause. a dismal day for wall street as the roller coaster ride on the u.s. stock market continues. the dow tumbled more than 700 points in its worst trading day since june of 2020. nasdaq lost nearly 4.8%. [ applause ] the sell-off began after target reported a 52% drop in profit for the first quarter, a day after walmart stock posted its worst day since 1987. markets in asia are also in the red this hour. live for us this hour in hong kong following the latest. after this, what are the marketing like in asia? yeah. asian markets are feeling that downward pressure after u.s. stocks, they posted the worst single day decline in two years. investors apparently spooked by two things. they re spooked by inflation fears. and they re also being spooked by weak earnings. target is the latest big box retailer to inject fear into the market. it posted that stunning first quarter profit decline of about 52%. it blam
michael is a third generation farmer near las vegas, new mexico. it s completely open. there is no water. as you can see. right now we have it completely and there is no water coming out. reporter: all of his irrigation lines are dry. the wild fire is miles away from his 600 achre farm and yet it will wide out all of his crops. reporter: have you thought about what that means to your bottom line? it s nonexist tent. at that point we have no revenue from this farm. reporter: the water stopped flowing to this farm four days ago. now it is down to a puddle. you still see the water line from where the water used to be. this was the canal before the state stopped water flow to this property. you have no idea how long you will have to forego using your water? could be months. it could be years. reporter: new mexico s early