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
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
you blame the russian soldiers and putin. what did you think of russians before this? since 2014, i felt they were bastards but i didn t want to believe in that. 2014 was the year russia invaded and annexed crimea. 2022, the rest of ukraine came under attack. why do you think the russians hit this hotel? i can t explain this, there were no military, no mercenaries, no terrorists, no ukrainian nazis. there was no one like that here. will russians ever be allowed to come back here and stay at this seaside resort? i can only allow them to come back if they re taken prisoner and forced to rebuild. and jake, you will hear this time and time again. this place, odesa, there were many people who were very close to russia and had very friendly ties, from tourism companies that made tons of money on russian tourists, to the mayor himself, who was a part of a russian party, if you will, a pro-russian party. but more and more, as this place keeps getting hit, that sentiment has changed a
most of the guests came here because it s 30 meters from the beach. we re right on the beautiful black sea. let s go. i ll show you what happened after the missile strike. his security cameras caught the missile strike as it happened. this is the first time it s been seen by the public. this is at full speed. then we slowed it down. you can see the missile low and straight from the direction of the black sea, but russia has been launching its attacks on odessa. so there was a direct attack from a missile right into your hotel and no one was hurt or died. thank god no one was injured here because normally in this place there are always children and parents. his once pristine seaside hotel used to be a favorite of russian tourists and politicians. they spent good money here in the years before the war. he doesn t want to admit it, but he himself was once a member of
black sea. let s go. i ll shoal you what happens after the missile strike. his security cameras caught the missile strike as it happened. this is the first time it s been seen by the public. this is at full speed. then, we slowed it down. you can see the missile low and straight from the direction of the black sea where russia has been launching its attacks on odesa. so there was a direct attack from a missile right into your hotel, and no one was hurt or died? thank god, no one was injured here because normally in this place, there were always children and parents. his once pristine seaside hotel used to be a favorite of russian tourists and politicians. they spent good money here in the years before the war. he doesn t want to admit it, but he himself was once a member of the pro-russian party here. this is destroyed.