what we learned about the power of the former president s support after voters went to the polls in five states. tonight s other top headlines: the c.d.c. s summer travel warning about testing. the latest from ukraine as the u.s. embassy opens in kyiv, even as war rages on. plus, eye on america : why these women are taking a leap of faith to raise awareness about mental health issues facing female veterans. and one nation, one team, one pay: the game-changer as a deal is reached to make sure the women s national soccer team is finally paid the same as the men. this is the cbs evening news with norah o donnell reporting tonight from new york o donnell: good evening, to our viewers in the west and thank you for joining us on this wednesday night. we want to begin tonight with some breaking news; the president just announcing new actions to try and ease the pain of the baby formula shortage. there are two major measures, first, to help with supply chain issues p
of the former president s support after voters went to the polls in five states. tonight s other top headlines: the c.d.c. s summer travel warning about testing. the latest from ukraine as the u.s. embassy opens in kyiv, even as war rages on. plus, eye on america : why these women are taking a leap of faith to raise awareness about mental health issues facing female veterans. and one nation, one team, one pay: the game changer as a deal is reached to make sure the women s national soccer team is finally paid the same as the men. this is the cbs evening news with norah o donnell reporting tonight from new york o donnell: good evening, and thank you for joining us on thissed with night. we want to begin tonight with some breaking news. the president just announcing new actions to try and ease the pain of the baby formula shortage. there are two major measures, first to help with supply chain issues president biden is invoking the defense production act to get ingredients
Hopefully this new plan will help. jamie yuccas with all the details, thank you so much. we turn now to the economy and the panic on wall street as the country s largest retailers warn of rising inflation costs and fears of a recession grow. all three major indexes posted big losses with the dow falling more than 1100 points or more than 3.5% purpose both the nasdaq and s&p 500 were off more than 4%, with the s&p having its worst day since june of 2020. cbs ed o keefe has more from the white house. reporter: it was the biggest one-day point drop in two years on wall street as the nation s top retailers warn price spikes are affecting their bottom line. target announced a 52% crop in profits last quarter, blaming the growing costs of gas and transportation. its stock lost a quarter of its value. other retailers took double-digit hits, following walmart s stock performance yesterday, the worst in more than 30 years. the global economic slowdown
Christmas. reporter: many people here in england are gathering with friends and family today, determined to stop covid from spoiling a second christmas in a row. british officials have said they ll wait until after this holiday to decide whether to announce any new measures. jamie. yuccas: roxana saberi in london, thank you. president biden is spending his first christmas in office at the white house with family. christina ruffini is there now, with more, and christina, there is a new family member. reporter: that s right, there is, the president, the first lady and their new german shepherd puppy commander, on what was essentially a zoom call with armed forces members around the world. president biden said they know what it s like to be missing a member of the family during the holidays. jill and i know how hard it is for you, but quite frankly it s harder for your husbands, wives, moms, dads, children, to be apart or on duty during a season of togetherness and we
and we have engine start. yuccas: plus, up, up and away, the james webb telescope blasts off on a mission to reveal the beginnings of the universe. whoo! yuccas: and later, a teaching tree. the tree is a teaching moment. yuccas: this bright symbol of christmas bringing healing light to a family and community during dark times. ing light to a sys this is the cbs weekend news. . yuccas: good evening, i m jamie yuccas in new york, adriana diaz is off. today, christians around the world are celebrating a christmas tainted by covid. the latest surge in cases fueled by the omicron variant forced people to suddenly change their plans, from how they traveled, to how they worshipped. in the u.s., daily new cases are at their highest level since late summer. the daily average of new covid cases is now at more than 197,000, that is up 65% over the