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. 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. America is once again open for business. Stock markets take a dramatic nosedive. The dow seeing its biggest oneday point drop in history. Accused me of illegally leaking classified information and if didnt give him a standing ovation at the state of the union, apparently unamerican, as well. Treasonous . Why not . Larry nassar received a third and final prison sentence. The judge tacking on another 40 to 125 years. The sheriffs deputy is dead after a shooting in colorado. Three other officers were injured. An outstanding member of my agency. A deadly pileup in iowa on a snowy strip. The crash shutting down the highway for hours. Never seen anything like this. All that mvp nick foles of philadelphia went to disney world where he was honored with a parade. To philly fans everywhere. To all that matters did you guys catch the super bowl last night . [ cheers ] then youre better at catching things than tom brady. [ laughter ] on cbs this morning. After more than 50 years of failure, eagles fans flooded the streets of philadelphia to celebrate their teams historic victory. Fans pulled down traffic lights, started fires, and tipped over cars. [ cheers ] the ooeeagles fans thought y were going to riot, but then they won and didnt want to let a good riot go to waste. Lets do it anyway i love this city, yeah welcome to cbs this morning. Investors are bracing for more shocks from wall street after a very turbulent 24 hours. This morning overseas markets from britain to japan are drown dramatically. Hong kongs main stock index fell more than 5 after yesterdays huge selloff on wall street. The dow industrial average lost 1,175 points, the biggest oneday point loss ever. Right now dow features are trending lower again ahead of this mornings opening bell. We have more on whats hurting stocks. Good morning. Reporter good morning. A sea of red on wall street yesterday. Mondays stock market dive rattled investors who had been watching the markets hit record highs. This morning many are asking if things are looking up on main street, why is wall street seemingly so panicked. [ bell ] 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 midday loss in the indexs history. By closing, 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. 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. Reporter some experts agree. Joe saluzzi is a partner at themis trading. The unemployment numbers are going lower. The fundamentals that markets are built on, theyre still there. A correction was needed to get the excesses off. Reporter 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 whether stocks were artificially high. I dont want to say too high, but i want to say high. Price ratios are at the high end. Reporter what the fed does next is a main factor behind the markets nosedive. Higher wages lead to fears of inflation. Many now believe the Federal Reserve under its new chairman, jerome powell, will begin raising interest rates, leading wall street to worry that the days of easy money may be coming to an end. John . Thanks. Cbs news financial contributor Mellody Hobson is with us. Good morning. Is that the thing, that the economys doing so well that this fear of inflation is whats got people moving out of the market . In a word, yes. Thats exactly what has happened. The news is good. As a result of that, there a re. And that was a big move. Weve been for that to profits. Its means the fed is going to want to keep inflation in check which means higher interest rates. This is not new news. Thats the interesting thing. We saw rates go up last year. We expected rates to go up this year. The numbers sound so scary. Are you here to offer calm and comfort . Certainly. Thats what i do in these moments. Its interesting because all of the headlines are biggest one daypoint drop ever. In perspective, if you look in percentage terms, its not even in the top 20 because of the base we started off at 26,000. A bad day was the crash of 87 when the market was down almost 23 in a day. That was a bad day. This is to be expected because weve gone since 2008 without even a correction, meaning the stock market being down at least 10 . Im glad you pointed that out. Ive been doing reading on this. The last 18 months have been the least volatile period for the stock market in modern times. What does it mean for the average investor . About onethird of americans have money in the markets for investment accounts . The investor will see their 401 k is down. However, this is why i love 401 k plans. You put away a little bit of your paycheck every two weeks. You buy when the market is high and when the market is low. Over the long term, you average a better price. If you let the system work, dont change anything that you do, now youre going to be buying more shares. This works in your favor. The average american during this period should do nothing. You should not be changing your approach. You should allow dollar cost averaging which is what it is called to work for you with your 401 k . Youve done that reporting. What are the largest firms doing now . I talked to institutional investors, i am one. Nothing. They are sticking with their asset allocations, sticking with their policies. You dont see big investors making huge changes on one day things going on in the stock market. If this continues when should we start to worry . I wouldnt be worried for a long time because the underlying fundamentals are so strong. Not only in the u. S. But major markets around the globe. Thank you very much. Always good to see you. Voice of calm. Yes. 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. 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 and called them unamerican. Margaret brennan is at the white house. Good morning. Reporter good morning. The president was in cincinnati yesterday for what was officially billed as a speech about tax reform. Then he quickly went off script and attacked democrats as if it were a campaign rally. It is a sharp departure from the president s own call for bipartisan unity made just a week ago in his state of the Union Address. They were like death and unamerican. Reporter the president wmaks including minority leaders nancy pelosi and chuck schumer, for not state of the Union Address. Somebody saids, why not . [ laughter ] can we call that trea not . [ applause ] i mean, our country very much. Reporter another target of his ire was congressman the president called him little and one of the biggest liars and schiff believes his committees investigation of Trump Campaign ties to russia probe led by special Counsel Robert Mueller are closing in the president. There is a rising sense of panic clearly within the White Reporter the House Intelligence Committee vote monday to release a tenpage me rebut republican accusations of it requested warrants to spy on former Trump Campaign aide carter page. Its release depends on whether President Trump declassifies it. In cincinnati he seemed to celebrate the release of the republican memo. Did we catch them in the act or what . You know what im oh, did we catch them in the act. They are very embarrassed. They never thought they were going to get caught. We caught them. We caught them. So much fun. Were like the great sleuth. Reporter 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 with any kind of positive or negative connection to russia has automatically become a target for suspicion. Norah, he said all of it is simply a witch hunt. Let me ask you about what the New York Times is reporting, that the president s lawyers are advising him from sitting down for a wideranging interview with special Counsel Robert Mueller. What do you know about that . Reporter norah, the president has said that he would be willing to speak with the special counsel, but only if his lawyers allow it. From what we understand, his lawyers are still discussing this and trying to narrow the scope of questioning to avoid any kind of legal traps. And heres what we understand their ground rules are for making this decision one is the accusation truly a serious crime . Two, is there proof that theres simply no other way to find the answers to these questions . Three, they dont want any kind of fishing expedition. Yesterday one of President Trumps lawyers, john dowd, told cbs news that discussions are still underway for a possible interview. Thank you very much. A 12yearold alabama boy is among the latest victims of the deadly flu epidemic. Aaron masterson died on sunday from flu complications. The cdc recently reported 17 pediatric flu deaths in one week alone. Demarco morgan is at allentown, pennsylvania, which has a Record Number ofpatients. Good morning. Reporter good morning to you. The flu season is so bad, it ma. Here at Lehigh Valley hospital, theyre a than 10 adults more than usual. They are at capacity and quickly running out of space. This is a mobile hospital. Reporter pennsylvanias Lehigh Valley hospital set up a surge patient tonight deal with the influx of flu patients. Dr. David burrmeister is an emergency room doctor here. This flu season is worst than in the past. Reporter Emergency Rooms are overwhelmed. The number of people hospitalized with flulike symptoms is the highest in more than a decade. The cdc reports more than 15,000 patients have been admitted for the flu so far this season. The patient populations that we get most concerned about are pediatric populations. Reporter at least 53 people have died of the flu since october. Aaron masterson died sunday from complications of the flu. The alabama boy was born with cystic fibrosis, a rare genetic disorder that amplified the effects of the virus. Will worthy had been friends with aaron for seven years. It was definitely hard. I cried a lot, yeah, and prayed tons. Reporter wills mom brandi said she considered aaron a second son. Aaron was a giver, an entertainer, and he just loved everybody. He loved his mommy. We are only one of the many families that were impacted and touched by aarons life. There are hundreds more stories out there. Reporter aarons family is donating his organs to help others. Doctors say the best way to protect yourself is to get the were kind enough to help mest f be on the safe side. Back to you. Demarco contributing there himself with his own way to go. Thanks. An Investigation Underway after officer was killed in the line of duty. Hundreds of mourners gathered last night to honor eso deputy. He is the third colorado office. Vladimir more. Reporter the 11year veteran leaves behind aif 7yearold investigating a car theft. First there was a struggle, then shots were fired. A pause and pop, pop, pop. Reporter around 4 00 p. M. Monday, shots rang out in Colorado Springs. Weve got three officers that have been shot. Reporter the first 911 call came from an Apartment Building near the shooting. One civilian, one Colorado Springs police officer, and two 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 sheriffs Deputy Zackari parrish was killed on new years eve. Adams county Deputy Heath Gumm was killed on the 24th. This has happened too often in the last months. Reporter randy shaw and his son gavin were among the hundreds who braved the cold to pay their respects to deputy flick monday night. Deputy flick made the ultimate sacrifice in taking care of all of us. The latest we can do is come out and say thank you. Reporter mourners waved flags and saluted the passing cars as a solemn Police Procession for flick rolled out of the hospital. State patrol, sheriffs office, the Colorado Springs police department, our hearts are all broken. Reporter colorados governor ordered all flags in the state to fly half staff. He also acknowledged the recent series of Police Killings is having a grave impact on the people of colorado. And certainly our thoughts and prayers with everyone including those twins. Agreed. Thank you. Investigators of the amtrak crash in South Carolina 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. The boats captain walken and the boats captain when she went overboard. The death was ruled an accident. Yesterday, word that the story was suspicious. We talked to investigators and whats been portrayed doesnt add up to what weve found in talking to other people that weekend. The information coming your way weve got a lot of calls. People calling again and saying they have information, yes. Wagner has denied involvement in woods death. He hasnt spoken to investigators since they reopened the case six years ago. Police in massachusetts are investigating a burglary at the home of patriots star rob gronkowski. He returned with teammates after the super bowl loss to the Philadelphia Eagles in minnesota. Police say the breakin did occur when gronk was at the super bowl, and some items were stolen from the home. Theyve not said yet what was taken. The home just a few miles from Gillette Stadium in foxboro. They knew that nobody would be home. Terrible thing to do. Agreed. Investigators say the suspected drunk driver who allegedly hit and killed an Indianapolis Colts player was previously hit twice. How his death a new era of space travel with the launch of a new rocket today. For elon musk, a big gamble. Reporter if spacex 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. I can do more to lower my a1c. Because my body can still make its own insulin. 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