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donald trump in a defamation lawsuit. we ll explain why the doj is backing off its previous position. plus two months worth of rain in two days. vermont is just starting the recovery process from that disaster. we ll get an update from one of the state s top lawmakers. all right, good morning, and welcome to way too early on this wednesday, july 12th. i m sam stein in for jonathan lemire. we begin with the major developments out of the nato summit in lithuania. the alliance says it will invite ukraine to join but only when allies agree and conditions are met. the group did not give a time line or details on what those conditions might be. vague wording is in line with what president joe biden said last week, calling a pathway to membership for ukraine, quote, premature while it is at war with russia. as the new york times points out, it appears the president and like minded allies have prevailed over poland in baltic nations that wanted a formal invitation for ukr ....
women com welcome to our vi the united states and around the world. we begin with the race to find survivors in turkey and syria more than 24 hours after an earthquake that has killed more than 5,000 in the two countries. the 7.8 magnitude quake and its powerful aftershocks collapsing more than 5,000 buildings. aftershocks are still creating treacherous conditions for rescuers who are trying to reach victims trapped. a massive international rescue effort now under way. and salma abdelaziz is live for us in istanbul. unfortunately the death toll is expected to rise. reporter: it is expected to ric rise. and you have rolling pictures right few on turkish television 24 hours of the search and rescue operations as families listing member after member that is missing. it is those families that turkish authorities are desperate to bring answers to. this is the critical window right now, this is the 24 to 48 hours after the earthquake where there is still a glimmer of hope t ....
let s update you on the fallout following the collapse of silicon valley bank. injapan today shares in its biggest banks have dropped sharply as global markets react to the banking sector sell off in the us. despite a promise from us president biden that his government would do everything needed to maintain stability. on monday americans were lining up outside their branches to access their funds. some venture capitalists in california were seen taking out their money in cashier cheques worth millions of dollars. the volatility sparked by the collapse of svb has led to speculation the federal reserve will now pause its plans to keep raising interest rates, designed to tame inflation. our north america business correspondent, michelle fleury, reports from new york. what the hammock in the us banking sector means for the broader economy is to be seen but it s taking calculations about how america s fight against inflation maeve plouffe. economists at goldman sachs no long ....
his planned trip to the middle east including saudi arabia. on capitol hill lawmakers are racing to put together a new bill that addresses rising gun violence and pass it all before the july 4th recess. we ll discuss with congressman salud car ba hall. we ll highlight the key races to watch with steve kornacki at the big board. we ll bring you an update on the fight for ukraine s donbas region which ukrainian president zelenskyy says will go down as one of the most brutal battles in and for europe. we begin with the growing unease over the state of the american economy. right now the dow jones industrial average is 141 points 140 points up. you see the index at 30,654. this is one day after it fell nearly 900 points yesterday on worries about inflation and what the federal reserve will do when it comes to interest rates at its next meeting which gets under way today. at the same time the s&p 500 which retirement funds are pegged to entered bear market territory, h ....
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