ceremony at the south korean cemetery on friday. he said the future of the world will be written in asia and the region will prove to be critical in the years and decades to come. the president made those comments after touring a samsung factory making semiconductors alongside his south korean counterpart. the decisions we make today will have far-reaching impacts on the world we leave our children tomorrow. so just to give you an indication how this is going to unfold, later today joe biden will hold talks with south korea s new president with the threat, of course, being posed by pyongyang. that will be expected the main focus of the meeting. beijing is holding military drills in the south china sea during this visit. now, the u.s. says there is still concern meantime that pronging could conduct a missile test while the president is in the region, but even then the war in ukraine is still on mr. biden s mind. listen. putin s brutal and unprovoked war in ukraine furthe
questions if both were too slow to act. as mentioned, another tough day on wall street. the dow lost 237. the s&p 500 fell 23. the nasdaq dropped 30. today another new high for gasoline prices with the national average reaching $4.59 per gallon. the rising rates forcing some to cancel vacation plans this summer. we will address these issues and more with senate minority leader membership mcconnell in just a few moments. first, fox business correspondent grady trimble is in chicago where gas prices are soaring. good evening, grady. good evening, bret. on wall street, it wasn t as bad as yesterday but all three of the major indexes are down big this week. the nasdaq getting hit the hardest. dropping more than 3.5%. investors are worried rising costs and falling consumer demand are eating into company s bottom lines especially after disappointing earnings from two of the country s largest retailers. retailers are also concerned about the rising fuel costs which could in turn i
lashing out over sweden joining finland in seeking nato membership. the kremlin is now threatening to retaliate. and there s a significant new development impacting the nationwide shortage of infant formula. a deal has just been reached to reopen a plant that was shut down because of a recall. how soon will desperately needed nourishment for america s babies are back on store shelves? we want to welcome our viewers here in the united states and around the world. i m wolf blitzer, you re in the situation room . we begin with new evidence that the buffalo shooting suspect was plotting a racially motivated slaughter for months. visiting the city back in march, and potentially looking to attack a second store. cnn s brian todd is on the scene for us, following all the new developments tonight. this was a straight-up hate crime, pure evil. reporter: tonight, police revealing details about the meticulous planning that went into the massacre of ten people in a buffalo store
to desperation for millions of parents nationwide as a shortage of baby formula has so many scrambling for ways to try to feed their children. coast to coast store shelves are showing up em pi. more than 40% of formula is out of stock across the country. eight states and d.c. particularly hard hit, reporting more than half of formula in those locations is out of stock. this crisis has been building for months due to pandemic supply issues as well as the closure of a major production plant in february. a lot going on here. the formula shortage is the latest pressing issue that s facing the biden white house, which is also very clearly under growing pressure to also fight inflation and the sky-high gas prices that we continue to track. let s start with cnn s arlette saenz live at the white house for us this hour. arlette, what is the white house saying and doing about the shortage and this crisis? reporter: kate, this baby formula shortage is causing anxiety for so many am