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covid around the world. turns out the suspected death toll is higher than reported. much higher. this is cnn breaking news. welcome to the lead. i m jake tapper. we start with breaking news in our money lead. a huge selloff on wall street today. the dow just closing down 1,059 points. the nasdaq and s&p also taking huge hits. the losses coming one day after big gains. let s get to cnn s richard quest, the host of quest means business. richard, what is behind the massive selloff? reality check, jake. the reality that the fed is going to have to raise rates, and maybe harder and faster than anybody thought, and that is going to slow the economy. now, many economists who said duh, we knew that was coming, why all the shock? the reason is because there had been a hope, a prayer, whatever, that they were going to get this soft landing. it s looking less likely now. and that means inflation will be remain high for the foreseeable future. we may see an uptick in ....
truce to allow for evacuations. a short time ago, a u.s. official said it s unclear how many fighters and civilians are inside that compound. ukrainian officials say more than 300 were rescued yesterday from the mariupol area. armed forces say over the past 24 hours, russians have had no success trying to break through the front lines into donetsk and luhansk regions. take a look at this video from a pro-russian channel. it gives extraordinary perspective of the fighting. the drone appears to be used by russian infantry to hunt down the last ukrainian fighters in that area. if you look closely, a soldier throws at least four grenades into or near this shed. you saw one debt fate. ukrainian forces are sheltering inside. it s unclear whether anyone was hurt. in other footage, you see ukrainian fighters on the ground face down apparently cornered in a yard there. at least six of them later surrendered. cnn scott mcclain is in lviv, great developments on evacuations from az ....
or around the world. i m ben thompson. we start with the eu s efforts to ban imports of russian oil and gas, as the war in ukraine goes on. and whilst there s still no agreement, germany s position is changing. chancellor scholz says he s now ready to speed up a ban of russian oil, despite sourcing around 12% of its supplies from the country. it now says it will find alternative sources, if given time to prepare. but that is just one hurdle. eu energy ministers attending an emergency meeting in brussels are still some way off agreement, with hungary one of the key opponents of a ban. in all, the eu spends $47.5 billion a year on oil and gas from russia. so can it wean itself off the supplies? it could look at lithuania as an example. in 2014, it sourced all its gas needs from russia. but then it took a big decision. it set up its so called independence terminal to import liquified natural gas. and this year, it imported no gas at all from russia. so it s possible, but ....
by attempting to climb snowdon. morning. starting off on a very cloudy note with some patchy rain and drizzle, the cloud will break through the day allowing sam chan to develop but as that happens further showers well as well. all the details throughout the programme. it s tuesday 3rd may. our main story. the un and red cross hope to oversee the evacuation of another group of civilians from a steel works plant in mariupol. there are hundreds of people still trapped inside the azovstal bunkers, including dozens of young children. ukrainian forces defending the site say russia is using planes, tanks and warship missiles to continue its bombardment. james reynolds has this report. imagine having to make your home in the depths of the nuclear bunker. hundreds of civilians, including about 20 children, remain deep under the azovstal steelworks in mariupol, alongside ukrainian soldiers. this underworld is the only refuge from russia s siege. on sunday, around 100 civilians ma ....
russian city of belgorod. russia has accused ukraine of mounting cross-border attacks on fuel depose and military installations. there s new video from the ukrainians that shows what they say are ukrainian drone strikes on russian vessels inside the black sea. not far from snake island. something worth watching there. overnight house speaker nancy pelosi in poland, she met with the polish president there following her trip to kyiv over the weekend. she says the visit will send an unmistakable message to the world america stands with nato allies in support of ukraine. i want to go live to cnn s matt rivers this morning who is in kyiv. i know you are closely following the situation in mariupol, hundreds of people still trapped inside that steel plant and in zaporizhzhia where she are waiting for bus loads hopefully of citizens from mariupol to be evacuated. what can you tell us this morning? reporter: yeah, john, two different evacuation operations going on right no ....