Right. Reporter and youre running marathons. Right. This is the cbs evening news with jeff glor. Glor and this is our western edition. Good evening. We begin tonight with a correction. That is whats happening in the markets. The dow plunged more than 1,000 points today, or 4. 15 . That puts the dow 10 below the high it hit last month. That is the textbook definition of a correction. Most of the drop came just since friday, nearly 9 . What is behind this selloff . Here is cbs News Business analyst jill schlesinger. Reporter the last half hour of trading today was brutal. A more than 430point plunge, capping off a terrible day on t. Ll street. It all started last friday, when investors worried that news of higher wages would trigger inflation and prompt the Federal Reserve to increase shortterm Interest Rates faster than expected. Higher rates could lead to slower Economic Growth and make it harder for companies to earn money. Hed this week, theres been a new concern big traders have bee
Record breaking night, if you know what i mean. Save me some donuts, rachel. Will do. Thank you. Well, the white house is lying, it is as simple as that. And john kelly is hiding tonight. Afraid to explain himself to the american people. This is the same john kelly who eagerly stepped up to the white house microphone to defend President Trump when he was criticized for the way he handled a condolence call to the widow of a soldier killed in action. That was the last time he stepped up to that microphone because he got caught in an ugly stream of lies. He lied about congressman wilson, got caught in the lie, never apologized for it and never stepped up again to apologize for the lies. So now, the proven liar, proven liar, john kelly, is hiding behind the White House Press spokesperson who he sent out there to lie today. And here is the big lie that john kelly pushed today through the white house spokesperson. Theres been some reports about the chief of staff, he became fully aware about
Both exwives. But the white house tried to muddy the time line today. There has been reports about the chief of staff. He became fully aware about these allegations yesterday. Fully aware. Strange term if you already knew about allegations of Domestic Abuse. I mean what john kelly learned yesterday about what he knew months ago is not at all clear right now. Heres the things, you may not have heard of rob porter before the story before the abuse charges exploded but he was arising star in the trump white house, number two to chief of staff, gate keeper, anything highly classified that went through the president s desk went through rob porter. That is power. And knowledge. And in the many months that kelly and others knew that porter was accused by both exwives of abuse, porter remained solidly at trump side. He accompanied the president to china in november. One of the few to actually shakes hands with president xi. He was with trump at the World Economic forum in davos, stood in for k
Is the last down leg from about 2 15 to now. We dont want to see that continue until 4 00. P the market ends on a downtick as weve seen the last several days, it means the selling is not finished, goes into europe and asia the next day and it comes back. Thats what im going to be looking forward to over the next hour, what happens in this last hour. Does it have this krag giness to it or does it end up selling off heavily. Why . Youre asking why. The short answer is the same answer its been since friday, the economy is showing some good signs of growth. Unemployment is low. Its at a 17year low. Job creation is good. This has been going on for a few years, weve seen those trends. At some point, and it happened on friday, strong Economic News starts to worry investors because they believe that, if the economy is Strong Enough to withstand Interest Rate hikes, thats whats going to start happening. If youve been shopping for a mortgage or you have a variable rate mortgage, youll know Mortg
I would say that i was not happy with it. I disagree with it. But, again, i didnt say that. They did. Julie and here is how that all played out last night along with minnesotas lawmakers response this morning. Omar has a history of launching vicious antisemitic [chanting send her back] [chanting send her back] she talked about the evil israel and its all about the benjamins. Not a good thing to say. We tell people that here in the United States, dissent is patriotic. Here in the United States disagreement is welcome. Debate is welcomed and especially in the peoples house, all of our voices are uplifted and heard. Julie joining me now is a. B. Stoddard associate editor and columnist at real clear politics. Thank you so much for talking to us. The president disavowing those remarks and the chants that was heard in that North Carolina rally. And he said he felt very bad about it. Do you feel that he felt that way . Well, he didnt if you look at the tape that you just played, its a long pa