inflation. prices fell dramatically last month for manufacturers. of course, those costs passed down to consumers eventually. the flip side, there are still banking fears simmering, futures way down ahead of the opening bell, you can see there. what all of this means as we get another big decision coming, that is, the feds, whether it will raise interest rates again. plus this morning escalating tensions after an alarming encounter over the black sea, a russian fighter jet colliding with an unmanned u.s. drone. that $23 million aircraft then crashing into the sea and the race is now on to recover it. extreme life-threatening weather continues to hammer both coasts this morning. record rain, swamping california, heavy snow, 3 feet in some areas, burying the northeast. this morning nearly half a million people without power. we are going to get to all of that, but we do want to begin with the economy this morning, this new data that just dropped, cnn chief business corres
create dangerous conditions. you re either getting rained on or snowed on on the east coast and west coast. let s go to natasha chen in ventura county, also derek van dam freezing it up in massachusetts. derek, we talked to you yesterday, it was getting worse then, how much snow fell and what do we expect today and going forward? reporter: i mean, so many people were catapulted back into winter with this latest nor easter. it took an entire winter season to get our first nor easter along the new england coastline and, boy, did it deliver. some people might have called this a dud, in boston you only had half an inch of snow, in new york city you had a trace, but don t tell that to the people of coal rain, massachusetts, to minors or let s say stony creek, new york, they both received 3 feet of very heavy, very wet snowfall that is extremely difficult to plow and to clear. i call this heart attack snow