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
abc news learning tonight that some of the online posts allegedly made by the suspected gunman were shared with a private group online just 30 minutes before that attack. stephanie ramos in buffalo. the free fall on wall street today. the dow losing more than 1,100 point. what drove this today? and what ceos across this nation are now saying about the possibility of a recession. rebecca jarvis is live. overseas tonight, the war in ukraine. finland and sweden now officially applying to join nato. how will putin respond? and president biden set to meet with both leaders of those nations tomorrow. ian pannell in ukraine. back here at home tonight, one of the most closely watched primary battles here in the u.s. still too close to call nearly 24 hours later. dr. mehmet oz against david mccormick. who is slightly ahead at this hour? the red flag warnings from california to texas. evacuations in texas, and more than 100 million americans now expected to see temperatures abo
mccormick that is still too close to call. trump is urging oz to declare victory anyway. sound familiar? the former president once again attacking the process and casting doubt on the results. steve kornacki is standing by at the big board with the latest on where that race stands right now. plus, president biden takes new steps to address the baby formula crisis, including invoking the same law that used to increase the medical supplies at the height of covid. another market meltdown as the dow suffers its worst day since 2020. retailers grapple with the pain of inflation. the latest on the war in ukraine as a russian soldier pleads guilty in the first war crimes trial of the conflict so far. the president turns his attention to asia, as he departs today for a visit to south korea and japan. but there s no question, this trip is all about china. good morning. welcome to morning joe. it is thursday, may 19th. joe is off. with us, we have former aide to the george
investors a scare by reporting a stunning drop in earnings, largely because of supply chain turmoil and rising costs. target lost 25% of its value today alone. its worst day since black monday in 1987. this comes a day after walmart sounded the inflation alarm, also suffering its worst day since 1987. the big concern is companies are having trouble passing along higher costs consumers and that perhaps corporate profitability has peaked. that s normally something you only see during big economic slowdowns. put all this together, you have the s&p 500 losing the most in one day since june of 2020, in nearly two years. the nasdaq plunging even deeper into a bear market. i should note markets were up big yesterday, but the wild swings really speak to the deep uncertainty about what comes next for the economy. and matt, a new conference board survey suggests, you know what, let s move on. matt egan, thank you so much. turning to our politics lead and an election cliffhanger in pe
carley: i m carley shimkus and a nail-biter. an automatic recount in one of the candidates is able to capture at least a lead half percentage point and dr. oz him mccormick projecting confidence last night. when all of the votes are tallied come i m confident that we will win. [cheers and applause] of course, we will not have resolution tonight but we see the path ahead with victory ahead. carley: a life in washington with a round up of election results, what an exciting night. sure was, good morning 3,000 separating dr. oz and dave mccormick in pennsylvania. 94%, here is dr. oz hear it again. when we win, the battle is in pennsylvania. it reflects the entire country. so if the soul of pennsylvania s thrive and healthy, my friends, we are a role model to the world. mccormick is hopeful at the ballot box and the mailbox where he thinks he can pull ahead. we have tens of thousands of ballots that have not been counted that are going to be counted beginning tomor