o donnell: breaking news: a judge blocks president biden s plan to let migrants claim asylum at the border for the first time in two years. tonight s other top headlines: the u.s. says it will keep 100,000 troops in europe for the foreseeable future. secret service scandal: why two officers were sent home from president biden s asia trip. and, the w.h.o. confirms an outbreak around the globe of monkeypox, with 80 cases so far. tonight, the warning about the rare disease here in the u.s. and, on the road, with the story of one lucky cat, and the family that never gave up hope. this is the cbs eveng news with norah o donnell, reporting from the nation s capital. o donnell: good evening to our viewers in the west and thank you for joining us on this friday night. tonight, you may have noticed that filling up your car or truck is especially painful right now. well, you re not alone, as gas prices are an all-time high. the national average for regular gas now stands at $4.
president biden in south korea as north korea appears to be on the verge of testing a missile. and did a republican lawmaker lead a tour of the capitol complex on the eve of the insurrection? plus new cnn reporting this morning on rising tensions among conservative justices over roe v. wade. and u.s. health officials sounding the alarm on a new covid wave disrupting american life. we will get answers from the white house coronavirus czar. good morning to viewers here in the united states and all around the world, it is friday, may 20th and just a short time ago president biden speaking in seoul, south korea, kicking off his first visit to asia since taking office. biden joined the new south korean president yoon seok-youl at a samsung semi-conductor plant. the main goal of this trip is to reassure america s asian allies of u.s. s commitment to counter and contain china. the president will also visit gentleman on this trip. there is growing concern over what north
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 s 38.37, and you can see it s trading just above there, if it closes below, it s officially a bear market, a 20% decline from previous highs. this would mean that the bull run that began in late march 2020, would be over. this is a big deal because bear ma
she didn t sleep at all. o donnell: breaking news: a judge blocks president biden s plan to let migrants claim asylum at the border for the first time in two years. tonight s other top headlines: the u.s. says it will keep 100,000 troops in europe for the foreseeable future. secret service scandal: why two officers were sent home from president biden s asia trip. and the white house who confirmf monkeypox, with 80 cases so far. tonight, the warning about the rare disease here in the u.s. and on the road, with the story of one lucky cat, and the family that never gave up ho o donnell: good evening, and thank you for joining us. tonight, you may have noticed filling up your car or truck is especially painful right now. well, you re not alone as gas prices are an all-time high. the national average stands the $4.59, $1.55 more than it was a year ago. while gas prices are up, stocks are down. the weakenedded in the red after flirting with a bear market, despite spocks makin
nearly two years, the dow dropped nearly 1200 points, it came after target reported a huge 52% drop in profits for the first quarter, walmart slashed its outlooks. these stores are pocketing less money because they have to pay so much more to get product on their shelves. wal walmart s stock fell more than 11% on tuesday, the company s worst day since 1987. and then of course there are also gas prices to talk b now above $4 a gallon in every state in america for the first time ever. the national average this morning $4.52 a gallon and climbing and that ripple effect is now hitting markets around the globe. overnight european markets opening lower, stocks also tumbled in asia after wall street s hellish day. inflation fears now depressing investor sentiment, many ceos publicly stating their concerns about a possible recession, something fed chairman jerome powell is keenly aware of. what we need to see is inflation coming down in a clear and convincing way and we re goin