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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 ....
To travel outside of tel aviv, jerusalem and beersheeva. The us embassy said it had made the order out of an abundance of caution, due to fears about a possible attack by iran. Earlier the Israeli Defence minister, yoav gallant, has told his us counterpart that israel will respond appropriately if it is directly attacked by iran. Washington continues to try to dissuade iran from launching a retaliatory strike following the attack on its consulate in syria last week. Lets speak to our middle east correspondent, hugo bachega, in jerusalem. Heightened sense of alert. What more can you tell us . Can you tell us . Four days we have been talking can you tell us . Four days we have been talking about can you tell us . Four days we have been talking about those can you tell us . Four days we have been talking about those warnings | been talking about those warnings that have come from american officials saying the iranian response is a m ....