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4% of the dow is the worst we've seen in two years. all hit hard because inflation remains stuck and no one can get it under control. an 8.3% annualized inflation rate. the core rate, that is without food and energy, also soaring more than 6.3%. this is the fourth 1,000 point sell-off for the dow just this year. again, this was a worse than expected inflation report. now the president is heralding this inflation reduction act that some people said is actually making the situation worse. because across the board, prices are going up. he's touting the prospect of eventually drug prices...

investigation. prosecutors may interviewed more witnesses and even convene a grand jury. as for trump world, the former legal team says this amounts did nothing more than a, quote, overdue library book scenario. they continue to claim executive privilege against federal prosecutors, who represent the current executive branch. they want a special master appointed to review the case independently which is garnering a literal lol from one of trump's former attorney generals, bill barr telling the new york times they request for a special master is, quote, a crock expletive. >> people sa...

during the insurrection. what that could mean for the january 6 committee's investigation. and senator joe manchin breeds new life into president biden's domestic agenda. how this latest string of legislative wins could play into the elections as democrats fight to stay in power. plus, someone might be waking up a billionaire this morning. the latest on the jackpot and where things stand right now. we're so glad you're with us this saturday, july 30th. welcome to "new day" and welcome to one of my finest people, sara sidner. >> thank you. buenos dias. we're both miami people. i...

>> reporter: so he's going to be pushing for this three-month gags holiday, and basically that would mean a 90-day suspension of the federal gas tax. if you're wondering what that's going to save you when you're actually at the pump, right now the federal gas tax is about 18 cents for a regular gallon and 24 cents for a gallon of diesel fuel. so not really that big of a difference when you're looking at an average price of gas. it is getting close to $5. of course it topped $5 earlier this month. so that's been a big question for lawmakers because getting this done is not just someth...

hearing their lawyers closing arguments. johnny depp is suing his former wife for an article she wrote in which she said she was a victim of domestic abuse. coming up in 25 minutes or so, a full round—up of the means. but now it is time for newscast. alex and chris, on an episode of newscast the other day we were talking about a new rock opera about tony bland i said i would love it if there is a newscast musical and i said but please, don't put too much effort into it. don't do a demo of a whole newscast musical. jeff has done a demo of a newscast musical. that's the first amazing...