responsible for the house crisis as the house scrambles for a vote tonight, tonight, on a multi million dollar bill to help. plus, check out the markets. have you seen this, wall street in a free fall in the last hour of trading. investors are getting ready for the biggest loss since 2020 because retailers, walmart, target, et cetera sounding the alarm on inflation. coming up, we ll tell you what is going on and when things could turn around. i m hallie jackson in washington and i want to bring in our poll lit. caller: political team. dasha barns, vaughn is in philadelphia and tony is in north carolina and our senior political editor mark murray is with us, as well. at 3:01 eastern time, 12:01 pacific here is where we stand after last night s primaries. in pennsylvania you have oz holding a lead over david mccormick. a recount is looking more and more likely. it s coming as you have former president trump as he did in 2020 not waiting around for the official results, ur
to jamie dimon or brian moynihan. he said recession for sure. it s a debate if it will be severe or something that is not noticed by all. but we are going to see slow growth, we ll see employment go higher. that s what we re seeing now. inflation, even though it s off the highest levels of the year, it is still pretty elevated and when i said when you go inside the producer price index, the things we buy are much higher than 7.7%. a dozen eggs is up 43%. that s a serious number. dana: and people buy it every day so they re feeling it every day. the markets also feeling it. markets today with the dow down, s&p down and nasdaq down. that affects people s 401ks as they look at the end of the year and feel like they are know a hole. alan greenspan used to call
so we want to take you back to wall street and and that big sell-off we told you about at the top of the show. you can see if we pull up the big board the dow down 1200 points, s&p down, nasdaq down nearly 600 points, too. cnbc s kristina partsnevelos. a more homes are feeling the pinch, you had target that released their earnings and target shares are actually plunging 25% right now. if it closes at that rate it s going to be the worst target its had since 1987. it was a similar story with walmart yesterday. with target, what we re hearing from the ceo is yes, people are buying luggage, they re buying dresses and makeup because it s wedding season, but some people now are making choices.
he s also ordering lawmakers not to try to undue budget cuts that come as a result of the committee s failure. western powers are stepping up sanctions against iran after fears the country may be working on a nuclear weapons program. canada is banning all financial transactions. britain has ordered all financial institutions to stop doing business with iranian banks. the moderate father of a murdered british teen testified monday. they testified of phone hacking by the news of the world gave false hope she was alive. outrage over the scandal forced the closure of the tabloid in july. those are the headlines from cnn. world business today starts now. it s 9:00 a.m. here in london. i m nina dos santos. and it s 5:00 p.m. in hong kong. i m andrew stevens. you re watching world business today . these are our top stories today tuesday, november 22nd. no deal on debt reduction. the super committee proves it s anything but. tear gases and tensions in south korea. a
happy monday. september 12th. this is your wake-up call. thank you for joining us this morning. breaking news on the world markets to tell you about this morning. they re taking quite a hit. investors are worried that greece could default on loan repayments. the nikkei closed at a 2 1/2-year low. the hang seng down over 4%. european markets opened over two hours ago. they re all down. about four hours until the markets open here. but dow futures are down 180 points. the nasdaq and s&p are down, as well. sorry. i had to tell you. congress supposed to get its hands on president obama s jobs bill today. but the president will hold a rose garden ceremony, flanked with teachers and business owners. 40,000 bank of america jobs are reportedly on the chopping block today. and today, we re expected to get details from the ceo at an investor conference at 9:00 p.m. eastern in new york. but the l.a. times are reporting most of the layoffs are supposed to come from consumer banking o