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shrinking stocks unfortunately in the pensions. peter doocy on the shrinking poll numbers for a president that just found a new villain for all of this and his name is not putin. welcome. i'm neil cavuto, this is "your world." a very turbulent world. when it comes to the markets, a lot redder world. how much? to jackie deangelis with more. >> good afternoon. another rough day for the markets, neil. not for the feint of heart. the markets digesting the rate hike that we saw yesterday and jerome powell's comments and deciding more hikes and slower growth means recession is coming if we...

inflation as bizarre. this as the dow takes another plunge. we have fox team coverage. susan li in new york tells us what's going on with the markets. white house correspondent peter doocy starts us off tonight. good evening, peter. >> peter: good evening, mike. in the president's first interview of any kind with a reporter since february and first print interview since may of last year, he says he thinks the reason that people are upset from this country right now is the pandemic and he says he does not believe a recession is inevitable. >> tackling inflation is my number one priori...

tonight, as wall street panics, mortgage rates skyrocket. how much more will a new loan cost you? tonight, the massive flood and new video from yellowstone national park, and the questions why about why the governor is nowhere to be found. plus the major flight cancellations and delays due to severe weather nationwide. tonight's other top headlines: a third american reportedly missing in ukraine. revlon files for bankruptcy. and finally, ahead of father's day, how a father-daughter bond led to a possible life-saving discovery. >> this is the "cbs evening news" with norah o'donnell, r...

it. >> inflation, it is zapping the strength of a lot of families. >> that inflation hit 8.6% last month, highest rate since 1981. majority of americans weren't even alive actually. u.s. families paying more for everything. gas, cars, food, housing, just to name a few. >> plane tickets, everything. and today fed is expected to rise rates three quarters of a point. so that means that people will pay more to get a car loan, houses and even college. that will taste bad, but the hope is that it cools down inflation overall. right now on wall street you're seeing a little bit of optimism ...

control. inflation hit 8.6% last month, the hottest inflation since 1981. the fed meets later today. fed funds futures markets are pricing in 0.75 point rate hike to curb inflation. the "wall street" journal reporting the fed is likely to make a move larger than the 50 basis point move a few days ago. a terrible day yesterday, a terrible two days. cnn's claire severe webastian i london. is there stability in europe? >> a little bit more stability today in europe and asia as they continue to sort of digest the falls that we saw those inflation fears out of the u.s. a mixed picture. as...