at the border, power outages said to be coming. and of course the russian invasion of ukraine which just added $40 billion to america s tab. we could debate whether any one of these items is truly the fault of the president. but the reality is they are all unfolding on his watch. and here come the midterms. typically the party in the white house sees the loss of two dozen of its congressional seats. this year democrats seem headed for much worse. there just aren t enough ultra maga doug mastrianos that could allow focus next november to be taken off this national funk. a few an moreent tkweurgzs to be sure, but too few to stop the tidal wave in the forecast. americans are really feeling the pinch with inflation at a 40-year high. until recently, there had pwhrpb some consolation for the 58 million americans in the stock market because it was still doing well. but that s no longer the case. this week the s&p and dow had historic down days. friday the s&p 500 briefly fell into
top of a brand new hour on cnn newsroom. goold good to have you with me. i m victor blackwell. plunging stocks, rising prices, recession fears. the s&p 500 entered bear market territory, dropping 20% from recent peaks. one bear market in the last 50 years was not accompanied by a recession. cost of living keeps rising, home prices are driving rents to a high. 17% from last year. gas prices are soaring. the national average, 4.59 per gallon, $0.30 more to fill up the tank than the day before russia invaded ukraine. let s start with the s&p 500 now into bear market territory today. what could that mean for the economy at large? well, victor, this is a flashing red light about the u.s. economy. if the s&p 500 closes below 38 s 38.37, and you can see it s trading just above there, if it closes below, it s officially a bear market, a 20% decline from previous highs. this would mean that the bull run that began in late march 2020, would be over. this is a big deal because bear ma
ginnie thomas, conservative activist and wife of supreme court justice played a much bigger role than we previously knew in pushing the election results. virginia ginnie thomas pressed arizona lawmakers after the 2020 election to set aside joe biden s popular vote victory and choose, quote, a clean slate of electors, that s according to emails obtained by the washington post. that email sent by thomas to lawmakers in 2020 argued that legislators needed to intervene because the vote had been marred by fraud. though she did not mention either candidate by name, the context was clear. thomas urged lawmakers to stand strong in the face of political and media pressure. she told lawmakers the chance to have lawmakers was yours and yours alone and had the power to fight back against fraud. that push by thomas in battle ground states ultimately culminated of alternate slate of trump electors being sent. the states are now under investigation by the justice department and they form
from now. we will bring you those comments from that podium there live. white house officials say today s meeting will allow the three nations to, quote, coordinate a path forward and compare notes on the move. this comes just hours before president biden leaves for his first trip to asia since taking office. over the next several days he will make stops in south korea and japan with hopes of reinforcing those alliances, of course, with china in mind there. plus, we are watching a continuing losing streak on wall street. the dow down again this morning, though, not quite as far as it was earlier. this on the heels of its worst days in nearly two years yesterday. let s begin with white house correspondent john harwood on the north lawn. this meeting, an important show of support for the allies making an enormous strategic change here. do they believe this is baked in? turkey continues to make bones about standing in the way. i don t think baked in, but there does seem to be
for the fed. they feel it could trigger a recession. john: gasoline prices record for the 10th straight day. average price now 4.58. and the cover the new york post summing it up, a picture of president biden riding a train right off the rails next to the words joe s train wreck. bret baier and larry kudlow will join us to break down the economic head winds facing the white house. gillian: jackie will join us in a moment, but first aishah hasnie at the white house. what is the messaging on the economy. we are waiting to find out, the president departed to east asia, and ten days in a row we have broken a record for gas. every state is spending more than $4 a gallon. households spend $5,000 a year. it could get worse. prices will surpass $6 nationwide by august. and get this, a gas station chain called 76 reprogramming pumps in washington state to sell gas at $10 a gallon. that s unbelievable. the white house responding to all of this by saying it s already released oil