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You are seeing a bit of a run on banks. just yesterday, you have moody's coming out and downgrading the sovereign debt to junk and analysts said we could see a default, like we haven't seen on russia in 1998 with a financial crisis. and yesterday new sanctions about the export control, and potentially the technology, that are using oil and gas sector, but as you mentioned the oil and gas sector is the life blood of the russian economy. it is how president putin was able to build up the $643 billion of reserve, part of that which the west is now stopping, and putting a stop to, of their assets....

Pre-pandemic after two years of shopping online. online sales fell for the first time on friday according to adobe analytics, retailers wrapped up $8.9 billion in cyber sales this year compared to 9 billion on the same day in 2020. >> people were worried about supply and the last few months. we saw a big jump in retail sales they came a lot earlier than people expected. >> a major test comes tomorrow in order to break the cyber monday in 2019, consumers will have to spend over $9.4 billion. the federation expects holiday sales from november to december to raise eight and a half to 10.5% over $...

Encouraged to do some of their shopping at some of those smaller stores. they're the ones that have been particularly hit hard during the pandemic. but look, whether you make those purchases at those locations or here on fifth avenue, the national retail federation estimating that there will be roughly $843 billion this holiday season, this as americans are still struggling with the rising price of everyday goods due to inflation. polo sandoval, cnn, new york. still ahead, countries around the world are on high alert as the omnicron variant sparks new fears of yet another and possibly worse ...

Systems, working with partners to get goods here. that's why we survived the last 20 months and been able to get most of the things we needed when we needed them. >> reporter: some of the businesses that face some challenges are going to be smaller mom and pops, hence, small business saturday. to put a final button on this, get an idea how much will be spent. $843 billion according to national retail federation. significant increase compared to previous years. back to you. >> polo, thank you so much. thanks for pointing out small business saturday today. let's support local businesses for sure...

Chains have basically been ballooning inventory ahead of the holidays, knowing people the last 20 months or so in the pandemic have been saving, so they have a lot to spend now, and also want to be able to go out and enjoy the holiday. places that are hurting are more of the independent retailers, so-called mom and pop stores that according to experts have lower priority when it comes to distribution. hence, small business saturday, where americans are encouraged to turn to some neighborhood stores that try to get the shopping done. look, whether you head to a small mom and pop shop on the cor...