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investors a scare by reporting a stunning drop in earnings, largely because of supply chain turmoil and rising costs. target lost 25% of its value today alone. its worst day since black monday in 1987. this comes a day after walmart sounded the inflation alarm, also suffering its worst day since 1987. the big concern is companies are having trouble passing along higher costs consumers and that perhaps corporate profitability has peaked. that s normally something you only see during big economic slowdowns. put all this together, you have the s&p 500 losing the most in one day since june of 2020, in nearly two years. the nasdaq plunging even deeper into a bear market. i should note markets were up big yesterday, but the wild swings really speak to the deep uncertainty about what comes next for the economy. and matt, a new conference board survey suggests, you know what, let s move on. matt egan, thank you so much. turning to our politics lead and an election cliffhanger in pe

White houseState of playBreaking newsJake tapperAir disasterWall streetU sS p 500Retail giant targetMatt eganSupply chain turmoilInflation alarmJune of 2020Bear marketConference board surveyBig yesterday