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nearly two years, the dow dropped nearly 1200 points, it came after target reported a huge 52% drop in profits for the first quarter, walmart slashed its outlooks. these stores are pocketing less money because they have to pay so much more to get product on their shelves. wal walmart s stock fell more than 11% on tuesday, the company s worst day since 1987. and then of course there are also gas prices to talk b now above $4 a gallon in every state in america for the first time ever. the national average this morning $4.52 a gallon and climbing and that ripple effect is now hitting markets around the globe. overnight european markets opening lower, stocks also tumbled in asia after wall street s hellish day. inflation fears now depressing investor sentiment, many ceos publicly stating their concerns about a possible recession, something fed chairman jerome powell is keenly aware of. what we need to see is inflation coming down in a clear and convincing way and we r ....
intentional. let s go outfront. good evening. i m erin burnett. outfront tonight, the break news. stocks plunge. the dow closing down more than 1100 points today. that is the biggest loss since 2020, at the height of coronavirus, when there was so much uncertainty, no vaccine. the numbers were surging of the dead. this is the biggest drop since then. sit because the nation, one of the biggest retailers in the country, target, said it is getting crushed by inflation, which is hurting the entire country. the ceo saying costs have been rising much faster than retail prices. it was just yesterday that walmart stocks suffered its worst day since 1987. same reason, surging costs. the ceo telling investors, bottom line results were unexpected and reflect ton usual environment. u.s. inflation levels, particularly in food and fuel created more pressure. that pressure is hurting americans. it is outpacing any wage increases, and it is doing so everywhere. and the economy is ....
he took the lead for the first time tonight around a half hour ago. okay. and the big dynamic here is kathy barnette had been eating into what might have been a clear win for him. david mccormick coming up the middle as the more moderate, traditional republican candidate, ie not election denying. look, this thing is still tight. it s a o1.1 race. bucks county are coming in with a slight edge to oz right now. but this thing is well within recount territory. this isn t going away. what do row think is happening that there is a slight inch for him? i think trump s endorsement is making a difference. oz doing really well in coal country. something to really pay attention to. mccormick s strength is the suburbs in pittsburgh, where he grew up. but right now you see oz just edging ahead. but this isn t going to be over. this is going to be days. this is in recount territory. every ballot counts right now. 851. did you say days? possibly. we thought hours, maybe. ....
well, this is the biggest election night of the u.s. so far this year. these five states are holding primaries, some of which have been filled with twists and turns and the results of these elections will decide who appears on state ballots and that will determine whether democrats lose their slim majority. the lingering power of former president donald trump. the marquee race of the night, the republican senate showdown in the swing state of penn which is going down to the wire. trump s pick, mehmet oz was deemed the front runner in a three-way contest and now is neck and neck with dave mccormick and the race is too close to call. john fetterman will get the nomination sdiet being in the hospital. he had a stroke and underwent surgery to install a pacemaker with a defibulator but the expensive senate showdown capturing the attention in pennsylvania. take a listen. unfortunately we are not going to have resolution tonight but we can see the path ahead and victory ahea ....
cliffhanger in pennsylvania. the trump endorsed tv doctor, mehmet oz, is neck and neck with david mccormick. we ll break down the former president s election night wins and losses as he s now pressuring dr. oz to declare victory before the last votes are counted. and another chilling twist in the buffalo shooting massacre. we re now learning that the suspected gunman revealed his racist attack plans online some 30 minutes before the deadly rampage. and that s prompting a new state investigation. there s a lot to discuss when the mayor of buffalo joins us live this hour. we want to welcome our viewers here in the united states and around the world. i m wolf blitzer. you re in the situation room. tonight, ukrainian forces are within miles of their enemy s backyard, after making significant new gains in the kharkiv region near the russian border. cnn s nick paton walsh is on the front line. every inch of respite from russian shelling here comes at grotesque cost. ....