Over alleged Sexual Misconduct. And only on cbs this morning, Oprah Winfrey reveals the newest choice for her book club. The lucky author will join us here in studio 57. But we begin this morning with a look at todays eye opener. Your world in 90 seconds. Everythings coming back. They all want to be where the action is. Americas once again open for business. Stock markets take a dramatic nosedive. We opened down over 500 points. Accuse me of illegally leaking classified information and as i didnt give him a standing ovation during the state of the union, apparently a traitor as well. Unamerican. Somebody said treasonous. Yes, i guess why not, you know. Larry nassar received a third and final prison sentence. The judge taking on another 40 to 125 years. A sheriffs deputy is dead. Three other officers injured. Out standing member of my agency. A deadly pileup in iowa on a snowy strip. The crash shutting down a highway for hours. Ive never seen anything like this. All that. Super bowl mvp nick foles of philadelphia went to disney world where he was honored with a parade. Philly fans everywhere. And all that matters. Did you guys catch the super bowl last night . [ cheers and applause ] then youre better at catching thin things than tom brady. On cbs this morning. After more than 50 years of failure, eagles fans flooded the streets of philadelphia to celebrate their historic vict y victory. Fans pulled down traffic lights, started fires and tipped over cars. I think the eagles fans thought they were going to lose so they planned a riot and they won and didnt want to let a good riot go to waste. Lets do it any way. I love this city. Yeah. Welcome to cbs this morning. As you wake up in the west, it looks like another crazy day on wall street. [ bell ringing ] the markets opened just about half an hour ago and briefly dropped over 500 points, more than 2 , in the first minute of trading. But right now, the Dow Jones Industrial average is surging up more than 200 points. Thats a lot better than yesterday when the dow lost more points in one day than ever before. Analysts say not to worry, this is a long overdue correction after months of stock market gains. Bianna golodryga is here with whats driving the markets now. Bianna, good morning. Good morning to you, gayle. Buckle up. Stock market dive rattled investors. This morning, many are asking if things are looking up on main street, why is wall street seemingly so panicked . Mondays opening bell brought a roller coaster day on wall street. At one point, the dow plunged as much as 1,600 points, the biggest oneday loss in the indexs history. It was down 1,175 points, enough to wipe out all gains since the start of 2018. Were doing fantastically. The stock market hit another alltime high. Reporter the president regularly takes credit for the markets success. The dow has risen around 8,000 points since he took office. But in response to yesterdays selloff, the white house said in a statement the president s focus is on our longterm economic fundamentals which remain exceptionally strong. The economy is still booming. Some experts agree. Joe saluzzi is a partner at trading. The fundamentals, theyre still there, but a correction was needed to kind of get the excesses off. Unemployment has fallen to a 17year low but wages have remained stagnant. Until january when they rose by 2. 9 . Former chair of the Federal Reserve janet yellen was asked on cbs sunday morning when stocks were artificially high. I dont want to say too high but i do want to say high. Price earnings ratios are near the high end of their historical ranges. Earlier this morning, overseas markets from britain to japan reported significant losses. Hong kongs main index fell more than 5 after yesterdays huge selloff. European exchanges, which open later, declined by around 2 . We will continue watching the markets. John. Thanks, bianna. Cbs news financial contributor Mellody Hobson is with us now. Good morning. So stocks are now up. Why is that . I think that is because people have recognized that yesterday was perhaps a bit overdone. And are going in buying on the debt, which has been something that has worked very well for the last decade. What happened yesterday . In other words, is it if the economy is strong, the market may have a negative reaction. Those two things may not be linked. A little bit of counterintuitive things going on which is too much of a good thing being bad. The story around the unemployment numbers were very good. The story around wage inflation, wages going up, got people a little scared. Inflation is back. That means corporate profits will go down. That means the Federal Reserve will start raising rates also to make sure to keep inflation in check. So there was a bit of a reaction to that. We saw that play out both on friday and on monday. Also keep in mind, weve gone for almost ten years without a correction. With the market going down at least 10 . And so we were long overdue for something to happen. Its interesting, despite all the market hysteria, yesterday, it is also true that the last 18 months have been one of the least volatile periods for the stock market in modern times. Global growth expected to be 4 . Corporate earnings are expected to go up. The fundamentals are still very strong. Very, very strong. So just if you look at companys reporting, half of companies have reported for the quarter. 80 of them have beat expectations. Theyre expecting the revenues to be up 7. 5 , their profits to be up 13 year over year. So it is things have been going very well. Heres the interesting thing about volatility though. Volatility has been almost nil in the stock market. But crazy around the world when you look at the political environment. So in some ways, some are saying maybe the volatility in the stock market is catching up with our politics. Whats your overall message, everybody settle down, its going to be okay . Yes, be calm and carry on. As simple as that . What if people are worried about their 401ks . Yesterday, a lot of people very concerned. Remember what you do with the 401k plan. You buy consistently every two weeks out of your paycheck. Which means when markets are high, you buy fewer cha eer sha. Over the long term, you average at a better price. You do not want to change from that strategy right now. Its called dollar cost averaging. Let it work in your favor. This is not a time to make changes. Be calm, as i said. Good news, thank you. Mellody hobson, thank you. President trump will have to decide this week whether to declassify a democratic response to a memo alleging fbi misconduct in the russia investigation. He declassified that republican memo on friday. Where yesterday the president blasted the lead author of the response. Then he used the word treason to describe the democrats chilly reaction to parts of his state of the union address. He also called them unamerican. Margaret brennan is at the white house. Good morning. Reporter good morning. President trump was in cincinnati yesterday for what was billled as an official speech on tax reform, but then he quickly went off script and he attacked democrats as if it were a campaign rally. It is a sharp departure from that bipartisan call for unity he made just last week in his state of the union address. They were like death. And unamerican. Reporter the president slammed democratic lawmakers, including minority leaders nancy pelosi and chuck schumer, for not clapping during his state of the union address. Somebody said treasonous. I mean, yeah, i guess why not, you know. Can we call that treason . Why not. I mean, they certainly didnt seem to love our country very much. Reporter another target of his ire was congressman adam schiff. The president called him little and one of the biggest liars and leakers in washington. Schiff believes his committees investigation of Trump Campaign ties to russia and the fbi probe led by special Counsel Robert Mueller are closing in on the president. There is a rising sense in panic clearly within the white house and as well on the hill. Reporter the House Intelligence Committee voted monday to release a tenpage memo from democrats meant to rebut republican accusations of political bias at the fbi. When it requested warrants to spy on former Trump Campaign aide carter page. Its release depends on whether President Trump declassifies it. In cincinnati, the president seemed to celebrate the release of the republican memo. Oh, but did we catch them in the act or what. You know what im talking ooh, did we catch them in the act. They are very embarrassed. They never thought they were going to get caught. We caught em. Okay, we caught em. So much fun. Were, like, the great sleuth. Reporter now, carter page who had been on the fbis radar since back in 2013 for past contact with russian operatives said last night that in his view, anyone on the Trump Campaign who had any kind of contact with russia, positive or negative, was automatically a target. And, norah, he called it all just a witchhunt. All right, margaret. Let me ask you about what the New York Times is reporting this morning, that the president s lawyers are advising him against sitting down for a wideranging interview with special counsel mueller. What have you learned about this . Well, the president has said a few times now that he would be willing to speak with special counsel mueller, but only if his lawyers agree. And those lawyers are still discussing whether this is a good strategy and theyre trying to narrow the scope of questioning to avoid any kind of legal pitfalls. Heres what we know about the ground rules that they are looking at. As they make that decision. They want to see whether the accusation is one, a serious crime, two, whether theres proof that theres no other way to get answers other than from the president himself. And three, they want to avoid any kind of fishing expedition. So yesterday, President Trumps lawyer john dowd told cbs news that discussions are still ongoing about a possible interview. All right, margaret, thank you. A 12yearold alabama boy is among the latest victims of the deadly flu epidemic. Aaron masterson die ed sunday fm flu complications. The cdc reported pediatric flu deaths. Demarco morganlehigh, pennsylvania. Reporter the experts say it could last until may. Here at Lehigh Valley hospital, they are at capacity and they are running out of space. This is the mobile surge hospital. Reporter pennsylvanias Lehigh Valley hospital set up the surge patient tent to deal with the influx of flu patients. Dr. David burmeister is an emergency medicine doctor here. This flu season seems to be quite a bit worse than what weve seen in the past. Reporter the number of people hospitalized with flulike symptoms is the highest in almost a decade. The cdr reports nearly 15,000 patients have been admitted for the flu so far this season. The patient populations that we get most concerned about are certainly pediatrics. Reporter at least 53 children have died from the flu since october. 12yearold Aaron Masterson died sunday from complications with the flu. The alabama boy was born with cystic fibrosis, a rare genetic disorder that amplified the effects of the virus. Will had been friends with aaron for seven years. It was definitely hard. I cried a lot. Yes. And prayed tons. Reporter wills mom brandy says she considered aaron a second son. Aaron was a giver, an entertainer and he just loved everybody. He loved his mommy. Were only one of the families, the many families that were impacted and touched by aarons life. There are hundreds more stories out there. Reporter now, aarons family is donating his organs to help others. Doctors say the best way to protect yourself is to get the flu shot. A special thanks to the staff here at Lehigh Valley hospital for helping me get my first ever flu shot. John. Demarco, thanks. A heartbreaking story. An investigation is under way after another colorado Law Enforcement officer was killed in the line of duty. Hundreds of mourners gathered last night to honor El Paso County sheriffs deputy micah flick. The third colorado officer to be shot dead in weeks. Vladimir dudier shows us. Reporter police say flick and other officers were investigating a car theft when they encountered a suspect. First, there was a struggle and then shots were fired. I heard like a pop and then there was a pop and and pause and pop, pop, pop. Reporter shots rang out in colorado springings. Weve got officers that have been shot. Reporter the first 911 call came from an Apartment Building near the shooting. One civilian, one Colorado SpringsPolice Officer and two El Paso County sheriffs deputies were injured during the confrontation. The suspect was shot and killed. Along with deputy micah flick. The father of 7yearold twins was killed on his 11th anniversary as a Police Officer. Deputy flick was an outstanding member of my agency. And he will be missed. Reporter flick is the third colorado Police Officer gunned down in the line of duty in the last five weeks. Douglas county sheriff Deputy Zackari parish was killed on new years eve. And Deputy Health gumm was killed on january 24th. This has happened al too often here. Reporter randy schott and his son were among the hundreds of people who braved the cold to pay their respects. Deputy flick made the ultimate sacrifice, taking care of all of us. So the least we can do is come out here and say thank you. Reporter mourners waved flags and saluted the passing cars as a solemn police process for flick rolled away from the hospital. Tonight there is no distinction between our uniforms, state patrol, Sheriffs Office and the Colorado Springs police department. Our hearts are all broken. Reporter Colorado Governor John Hickenlooper ordered all flags in the state to fly at halfstaff. He also beiacknowledged the pol killings are having a grave impact on the people of colorado. Just a reminder that our cops put their lives in danger every single day on the job. For seemingly routine things and it ends up at the end of a routine stop, ends up something. Now two Young Children without a dad. Ripples through generations. Thank you. Investigators say train signals were shut down at the time to let crews install new technology that might have prevented the accident. The amtrak train was diverted on to a side track by a switch locked in the wrong position. It slammed into a freight train, killing two amtrak workers and injuring more than 100 passengers. The mother of the engineer killed in the crash says he needed counseling months earlier after another train accident. Los angeles investigators hope new witnesses come forward to help solve the mysterious death of Actress Natalie wood. More than 36 years ago. 48 hours broke the news last week that woods husband, actor robert wagner, is now a person of interest in the case. In 1981, they were on a yacht with actor Christopher Walken and the boats captain when wood went overboard, often the california coast. Her death was ruled an accident at the time but investigators said yesterday that wagners story is suspicious. We told the original investigators, since then, really dont add up to what we found or we found by talking to the other people that weekend. Have you seen a spike in all of the information coming your way since the 48 hours broadcast . We have got a lot of calls. People calling again saying they have information. Yes are. Wagner has denied involvement. He hasnt spoken to investigators since they reopened the case six years ago. Police in massachusetts investigating a burglary at the home of patriots star rob gronkowski. He returned home yesterday with his new england teammates after their super bowl loss to the Philadelphia Eagles in minnesota, we all saw that game. Police say the breakin occurred when gronk was away at the super bowl and some items were stolen. Authorities are not saying what was taken. The home is just a few miles from gillette stadium. What a crappy night for him. First the team loses. Then you come home and your home is burglarized from people who obviously knew he wasnt there. Im just reading the Foxboro Police chief said theyre not going to say what was stolen, but thats investigative advantage that they know what is stol stolen. More to this story. Investigators say the suspected drunk driver who allegedly hit and killed an Indianapolis Colts player was previously deported twice. Ahead, how teammates are remembering linebacker Edwin Jackson and how his good morning, this view across berkeley right now showing Clear Conditions out there, and thats going to be the story throughout the day, but also some pretty gusty conditions as well. Mount diablo, 66 Miles Per Hour gusts this morning. Oakland hills, feeling the breeze, and heres why we have the offshore winds associated with that ridge of High Pressure which is bringing our temperatures into the 70s yet again. So not quite record breaking but it will be warm out there. Space x hopes to launch a new era of space travel today. Covering elon musks big gamble. If space x can successfully launch its falcon heavy later today, it will become the worlds most powerful rocket currently in use. Well tell you how that could impact the future of space travel, coming up on cbs this morning. Because my body can still make its own insulin. And i take trulicity once a week to activate my body to release it, like its supposed to. Trulicity is not insulin. It comes in a onceweekly, truly easytouse pen. The pen where you dont have t