Company says its phase 3 trial in the u. S. Found its 72 effective in preventing moderate to severe symptoms and says it will file for Emergency Authorization in the coming week, that could mean approval by the end of february. Heres whats key, the vaccine does not require Ultra Cold Temperatures for storage and Shelf Life Is Good for up to two years, huge win. The other breaking story were following, scientists warning the u. S. Is in a race against time with the new Coronavirus Variants popping up across the country and one of those strains, the South African Variant, is now officially here. Two cases have been confirmed in the state of south carolina. Even more concerning, the state departments Public Health warning says that two infected adults had no recent travel history and no connection to one another. And its raising concerns the strain may already be circulating within the community as new data indicates the vaccines we have may be less effective against this one. That said,
away from 20% of the highs, definition of a bear market. welcome. i m neil cavuto. this is your world. it was a selling world all this week amid concerns that inflation is rocketing, the fed is hiking rates and the economy could be slowing dramatically. its been so weird this week. because remember the reaction the markets had to news that jerome powell at the federal reserve was going to start aggressively hiking interest rates. a 75 basis point hike earlier this week. the highest since a fellow named bill clinton was in the oval office in 1994. that was then. concerns that he will have to do more of that right now. doesn t jackie deangelis know it. taking a look at the week that is now done. jackie? good afternoon, neil. even with this mixed picture at the close today, it was a sell button dominated wall street week. take a look at the major three averages. it was a sea of red. year to date, the markets have been pummeled. the dow and the s&p 50 oh sorry. the nasdaq a
watch list right here at our southern border. those numbers are higher than the last five years all combined together. they are running out to flat top area. an average of 1,800 illegal immigrant runners have slipped past border patrol every day since october. cbp forces tell fox news. and new cbp data on the number of potential terrorists encountered at the southern border highlights why that is a major concern. according to cbp in fiscal year 2017, there were only two people on the terror watch list arrested at the southern border. fiscal year 2018 had six. fiscal year 2019 had zero. fiscal year 2020 had three. fiscal year 2021 had 15 and so far in facial year 2022 border patrol has already arrested 50 people on the terror watch list. the trend is clear. the numbers of known or suspected tastes arrested at the southern border have exploded under president biden: we are here once again dealing with the ongoing failure of the biden administration to do its fundamental j
ripoff. o donnell: also on capitol hill, the landmark agreement by republicans and democrats on gun legislation. targeting gay pride events the new video tonight of the 31 men with alleged ties to a white nationalist group arrested, piled in the back of a u hall. extreme weather, dangerous flooding shuts down yellowstone with nearly 170 million americans set to face temperatures over 90 degrees. our exclusive interview with the first woman to serve as secretary of the army. do you still think there s a problem with sexual assault and harassment in the u.s. army? and jennifer hudson makes history at the 75th annual tony awards. this is the cbs evening news with norah o donnell, reporting from the nation s capital. sivment good evening and thank you for joining us as we start a new week together. tonight many americans are worrying about their retirement funds as stocks dropped to new lows for the year. the sell button was hit thanks to a rising. the dow down more than 2%
charles. let me start with this stat. even with the small gain that you re seeing on the dow, it s the first eight-week losing streak for the dow jones industrial average in 90 years. since 1932. you re correct as wells that the s&p 500 did touch the bear market territory. that was significant. bear market territory is when the index is down 20% from its highs. the selling on wall street continues as investors are worried about inflation, the consumer and a recession. the concern of course is that the fed can t tamp this inflation down quickly enough and that the consumer will just have to go without nonessentials to pay for essentials. that means that the economy will eventually take a big hit. if that doesn t do it, the flip side is that rate hikes, they re coming and they will put us into a recession as well so many investors, analysts and company ceos are pointing the finger at bidenomics, excessive spending, regulation and money printing as the causes of what put this co