especially supply vendors who are getting jackhammered by rising inflation, especially the cost of gas. i remember when gas was $2.50 a gallon. it s kind of like hard to fill up your tank for just $40 now. today at ramstein we ve been watching service members put together these pallets. 1.5 million eight-ounce bottles of infant formula. i m pamela brown in washington. you are in the cnn newsroom. and we are following several major stories for you this hour on the saturday night. happening now, two u.s. military planes are set to leave germany in the next few hours loaded with supplies to help ease america s baby formula crisis. and then extreme weather across america. residents in michigan are picking up the pieces after a devastating tornado while more than half the country bakes in record heat. also tonight, tiger woods has just dropped out of the pga championship following his worst ever score at the tournament. and a group of social media big hitters have a messag
hospitalized in south carolina because of complications tied to nation s formula shortage. a children s hospital in charleston says three of the infants were admitted because they couldn t tolerate the formulas their parents tried using for them. another got sick from mineral imbalances from care givers micking mick i mixing their own formula. 45% of formula products were out of stock. help is hours away and coming from across the atlantic. our senior medical correspondent is in germany where the first flights are getting ready the leave. how soon will this formula hit the shelves? we have been watch b service members putting together these pallets. it s 1.5 million bottles. each bottle eight ounces. 1.5 million being sent by a european company to the united states. the department of defense is doing the shipping. let s take a look at what they are sending. if you look at this, you can see it says nestle. that s a swiss company. that s a formula that s hypoallergenic. a l
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salon, they are no longer going and the people are choosing to go to the bakery or get their fresh fruits and vegetables indeed having to make serious choices as they navigate these horrific gas prices here in california. reporting from the farmer s market in crenshaw, i m paul vercammen, back to you, pam. thanks, paul. now for a broader look at the economy i want to bring in justin wolfers, professor of economics and public policy at the university of michigan. hey, justin. good to see you again. so, let s talk about what s going on here with the dow. it posted its eighth straight weekly loss. that is the longest streak since 1923. help us make sense of this. is this just a blip or does it signify something bigger? well, let s get some perspective on it. a lot of talk is that there s a bear market which means that stocks are falling by 20% from their peak but that was a couple of months ago. let me give you a different number. if you went back to the start of the pandemic and yo