the end of the tunnel, more investors by day s end concluded it was a train coming at them and fast. to susan li with what went down by stocks going way down. susan? you re right. we did close off that bear market level. the dow jones industrials sub 30,000 now. the lowest close that we ve seen for the dow jones since november 2020. that means the last two years of gains have been wiped out. you have fear an wall street at the highest in three months. several factors here affecting sentiment. that includes the on going war in ukraine and also a stark realization this week that the federal reserve and chair jay powell is serious and adamant to keep raising interest rates in order to kill and bring down 40-year high inflation. 75% of wall street now expected interest rates to cross 4% in november this year. that means you re getting the highest yields on ten-year government bonds in 12.5 years. so the good news here is that higher rates is destroying demand. that s bringing d
ukraine, looking to annex these four ukrainian regions some of which are only partially under the russian president s military control. the vote, which is largely seen as a sham, is illegal under ukrainian and international law as well. armed groups going door to door, as we speak, forcing participation by handing residents paper ballots so they vote on the spot. it is happening as the mass exodus of russian men fleeing putin s military draft intensifies, one way plane tickets sold out, anyone trying to leave by car or bus is being stalled at the border for hours. those who have not yet left are either bidding emotional goodbyes to their loved ones, or protesting russian officials. and have been quick to crack down on any push dallas back for those unwilling to serve. more than 1400 people were detained in 40 cities and some may be drafted following their arrest. in the evening address last night, president volodymyr zelenskyy urging those who defying the conscription to keep
january 6th. we know today that the clock is ticking for the former president and his legal team. they have one week to produce evidence to back up donald trump s repeated attacks on the fbi, including allegations that agents planted records at his mar-a-lago home. he said it again this week. the problem that you have is they go into rooms, they won t let them in the same building. did they drop anything into those files or did they do it later. there s no chain of custody with them. but now special master raymond deer ri ordered lawyers late thursday, he did this just last night torks account for in court those unsubstantited claims that trump of keeps making on tv. and that s not all the judge is asking for. he also wants trump s attorneys to say whether they think the fbi was mistaken about what evidence was taken or where it was found. tz and he s giving them one last chance to say whether they want to claim the fbi took anything that s not on the list. if they don t,
the same to declare a climate emergency. here we are. we don t know why the white house stopped short of making this emergency declaration on climate today with of course president biden standing in front of a once-fired coal powered plant being converted into an offshore wind manufacturing facility. there s speculation a tough time to roll out that announcement amid high gas prices and recession fears and since can it be used as a legal basis to drop oil and gas drills. congressional republicans say pain at the pump is the point. i think the administration does want us to suffer. the secretary of transportation said yesterday you don t like the cost of gasoline, buy an electric vehicle. so some announcements did come from the president s remarks plan to propose wind mills in the gulf of mexico and a record of amount of fema funding for infrastructure, neil. jackie, thanks for that. let s go to jeff block right now. he s in philadelphia. witnesses this for himself. the
but there s also the strong data coming out of the labor market. neil: jerome powell said this even after he and his fellow fed members unanimously hiked the interest interest rates .5%. so does jerome powell know something we don t know? the official number that might prove we re in a recession doesn t come out till tomorrow morning. here s powell sounding like the president showing no such concern today. so what to make of it? we re all over it with connell mcshane on how americans don t care what they re calling it, this recession is real and they re having a devil of a time dealing with it. edward lawrence on how the fed plans to handle it. and michael moore on how if a hard landing can be avoided. welcome. i m neil cavuto. first to lawrence on the move that a lot of people expected but the reaction that many did not. edward? it s very interesting that the federal chairman saying that we re not in a recession and we can avoid a recession and taking the same talking po