we start with the soaring cost of living because prices here in the uk are now rising at the fastest rate in a0 years. the annual rate of inflation hit 9% in april up from 7% in march, driven bya bigjump in energy bills. britain s finance minister, chancellor of the exchequer, rishi sunak is warning of tougher times ahead as pressure grows on him to take action. our economics editor faisal islam has more. when prices rise this fast it hits everyone, the fracture seen on every street, office and household in the country, including in lancashire. she recently ran her business, after the pandemic she finds money running out as bills get more expensive and even essential things become too expensive. essential things become too “pensive- expensive. gas and electric because i expensive. gas and electric because i got expensive. gas and electric because i got in expensive. gas and electric because i got in arrears - because i got in arrears because i got in arrears beca
victory. live from cnn center, this is cnn newsroom with john vause. a dismal day for wall street as the roller coaster ride on the u.s. stock market continues. the dow tumbled more than 700 points in its worst trading day since june of 2020. nasdaq lost nearly 4.8%. [ applause ] the sell-off began after target reported a 52% drop in profit for the first quarter, a day after walmart stock posted its worst day since 1987. markets in asia are also in the red this hour. live for us this hour in hong kong following the latest. after this, what are the marketing like in asia? yeah. asian markets are feeling that downward pressure after u.s. stocks, they posted the worst single day decline in two years. investors apparently spooked by two things. they re spooked by inflation fears. and they re also being spooked by weak earnings. target is the latest big box retailer to inject fear into the market. it posted that stunning first quarter profit decline of about 52%. it blam
retail ceos say they are getting crushed by rising prices. we re live in london with a look at the impact on global markets. and a stand still on the battlefield as russia s offensive appears to have stalled. could ukraine have the upper hand to regain territory? we are live in lviv with the latest. live from cnn center, this is cnn newsroom. with rosemary church. good to have you with us. well, the high profile u.s. republican senate race in the key swing state of pennsylvania remains too close to call, and it will likely be days before a winner is announced. tv dr. mehmet oz holds an extremely narrow lead, some 1200 votes over former hedge fund executive dave mccormick. but former u.s. president donald trump, who endorsed oz, is already urging him to declare victory. last week and having a defibrillator implanted on election day. now, you may have noticed, i am not john fetterman. the next senator of our great state. reporter: the ballot counting here in lancas
who has the upper hand. we can see victory ahead and it is all because of you, so thank you, pennsylvania. increased forest fires in the u.s., leaving of corals in the oceans. time is running out. live from london, this is cnn newsroom with max foster. it is thursday, may 19, 9:00 a.m. here in london, 4:00 a.m. in new york and washington. investors on wall street will be waking up after reporting the worst trading day in nearly two years, all eyes on the u.s. markets to see if the roller coaster ride continues as fears of a recession grows. let s take a look at how it is impacting life. gasoline prices are soaring. so are home prices. and if americans want to buy a car, with the supply chain shortages even the price of used cars has skyrocketed. in california, gas prices have hit $6 a gallon this week and experts warn that could be the national average before the summer is out. aaa has the current gas average at just a little over $4.50 today. the cost of grocerie
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