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a meeting with the north korean dictator, kim jong-un. the president took part in a wreath laying ceremony to pay his respects to fallen korean soldiers who died fighting alongside u.s. forces in the korean war. cnn white house correspondent jeremy diamond in seoul with the president. jeremy, this announcement about joint military exercises, this is yet another example of president biden reversing what president donald trump had done. >> reporter: yeah, no doubt about it, alex. what we're seeing from president biden on this trip to seoul is a return to foreign policy in tis region an...

military and economic might in the region and escalating provocations from north korea which u.s. intelligence thinks may be planning a missile test while mr. biden is there. let's bring in cnn's paula hancocks live in seoul for us. good morning, tell us what is the underlying purpose of the president's visit there? >> reporter: what the president is here for and what he would like to be talking about is alliances. and talking about economic prosperity and partnership with south korea, talking about security ties. what he might find creeping up the agenda though is north korea. as yo...

su semiconductor plant. the other stop is japan. but as biden makes the rounds, there is also growing concern over what north korea might do next to rattle the saber. the united states preparing for the distinct possibility that kim jong-un would conduct a missile test, an icbm, in coordination with biden's trip. wouldn't be the first time he did it. more on that in a moment. let's begin in seoul, south korea, cnn's jeremy diamond is there. tell us what the biden administration hopes to accomplish on this trip, both in south korea and japan. >> reporter: well, jim, president biden ha...

there. with china in mind. but as biden prepares to head overseas, there are concerns that north korea is preparing to test an intercontinental ballistic missile in the coming days, one more dose of saber ra rattling. the other major story we're following, the u.s. economy in flux, to say the least. wall street set for another rough day, dow futures already down. you see there this morning. after the markets' worst day in nearly two years yesterday, ending down nearly 1200 points, 3.5% or so. inflation fears now depressing investor sentiment. many ceos are stating their concerns of a...

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...