The knee. Yeah. Reporter and youre running marathons. This is the cbs evening news with jeff glor. Glor 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 its 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 . So 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 wall 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. And this week, theres been a new concern bigers have been forced to unwind a bet that mark
Parents at st. Marys Catholic Primary School told me ofce the concerns about air pollution affecting Childrens Health. This morning High Court Ruled that the Government Air quality plan is. What does it Prime Minister feel is worse, losing for the third time in the high court, or 40,000 unnecessary deaths and impact on Childrens Health of the uks unsustainable airquality . The issue the honorable lady has raised about air quality is important and thats why weve been taking action to improve air quality. But can i just say to the honorable lady the way she has described the courts decision this morning i dont think properly reflects the decision that the court has given. If i could just perhaps, mr. Speaker, explained to thein houe because we do welcome the fact that the court has dismissed the complaint relating to five cities with major airquality problems, has now that we are taking appropriate action. They have agreed the modeling we used to support the 2017 airquality plan is sound
We have set up a highfrequency trading bull and bear to battle it all out. As the president spends the day focusing on School Safety following last weeks shooting at Parkland High School in florida, blake burman grills the president s economic adviser about the administrations myth on that promised 4 growth. Blake will join us and youre going to see how it all went down. Amazon accused of corporate welfare for Holding Contest to get the best deal from communities across the nation in search for a Second Headquarters. Hillary vaughn live on the billionaire brothers who have actually taken corporate welfares themselves and why theyre accusing amazon now. And did you see this . Kylie crushes a stock with a single tweet. Kylie jenner puts out a tweet about aump and try to take it back because it was negative. The stocks the kardashianjenner tweet sent stocks snapping into a nose die. Less than an hour to the closing bell, investors are not happy about that. Lets start the countdown. Liz br
White House Press Corps was a little depressed so i said lets do economics and cheer everybody out. Digging around the Chairmans Office i noticed that on my bookshelf there was a copy of the first economic report of the president from 1947 and harry truman in it said this. He said the economic report is an opportunity for national selfexamination in some criticism. Its a challenge to the president and the congress to determine the causes of whatever problems we face in our economic life. In find a solution to those problems. That is what we endeavor to do at the council of economic advisers. And what we endeavor to this report that came out yesterday. We reached the president on it yesterday 11 30 in the oval office and i encourage all of you to read it because its a scintillating read. The economic report has eight chapters in the first after is an Economic Outlook where we project in our policies will create a 3 growth rate Going Forward over the next ten years. Gdp will be about 2 b
To make a difference. Well speak to Indiana Attorney general in the room with the president. Plus super bowl of conservative politics of the annual conservative action political conference better known as cpac. It es underway. President trump will speak to the Conference Tomorrow morning amid a Heated National Debate how best to keep our kids safe in schools. What to expect from the president s speech. Cheryl back to these markets. Another roller coaster ride. There is more green than red when it comes to the dow 30. The dow closing up 163 points and change. 24,961. Interest rate fierce faded somewhat. Gerri willis on floor of new york stock exchange. Finance and Health Caring drag down s p and nasdaq but the dow looking pretty good today, gerri. We saw the dow doing pretty well indeed. Let me tell you why. The that 10year treasury yield hanging steady below the 4year high. 2. 92. People see it as signal of lower inflation. Possibility of fewer rate increases rather than more. Let me t