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
me. i m alex marquardt in today for fredricka whitfield. we begin with a important overseas trip for president biden as crises persist back home and around the world. president biden holding a bilateral meeting today with south korea president, the two leaders highlighting this strength of their partnership and alliance in the face of ongoing and nuclear missile threats from north korea. but it comes as american families struggle to feed their infant children. a crippling shortage has store shelves barren. the white house trying to respond to the white house. this weekend the first shipment of baby formula from europe is scheduled to arrive. and that effort is being spearheaded by the american military. let s start with just some of the consequences of this crippling form shortage. medical university of south carolina is reporting at least four babies were recently hospitalized for complications related to this baby formula shortage. three hadd had intolerance because they
oklahoma itself enacted two weeks ago. no, this new law awaiting republican governor kevin sits signature would outlaw abortions from fertilization, meaning when the sperm combines with the egg. there are exceptions for certain medical emergencies or if the pregnancy was a result of rape or incest. even then there are tons of questions as to how those exceptions would work in practice. for example, would you just have to report a sexual assault to law enforcement, or would there have to be an actual prosecution of an assault to terminate that pregnancy? and not only would this oklahoma law ban abortions from fertilization, it would also allow private citizens to sue abortion providers or anyone who aids and abets an abortion. it s really modelled on the texas law, is it not? pledged to sign every single piece of legislation that limits abortion that might reach his desk. that means this law could go into affect in days, hours, or minutes immediately after he signs. reaction o
reported, get this, a stunning 52% drop in first quarter profits, that was just a day after shares in the nation s largest retailer walmart had their worst day in 35 years. what is going on here? they have their fingers on the pulse of the american consumer and they say inflation was the problem, their customers are sticking to the basics when they come in, leaving with fewer items in their shopping carts. those purchasing decisions being driven by sticker shock of course. basics are getting much more expensive, gas up 44% the last year, car, food and shelter also way up. americans are also making more money. wages rising in this tight labor market, but that is also feeding into worries about inflation because of wages. and because of rising prices, people don t feel secure so they are cutting back and that is shaking market confidence. right now stock index futures are leaning lower. asia closed mixed overnight. looks like except for china all down here. let s bring in krist
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