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victory. live from cnn center, this is cnn newsroom with john vause. a dismal day for wall street as the roller coaster ride on the u.s. stock market continues. the dow tumbled more than 700 points in its worst trading day since june of 2020. nasdaq lost nearly 4.8%. [ applause ] the sell-off began after target reported a 52% drop in profit for the first quarter, a day after walmart stock posted its worst day since 1987. markets in asia are also in the red this hour. live for us this hour in hong kong following the latest. after this, what are the marketing like in asia? yeah. asian markets are feeling that downward pressure after u.s. stocks, they posted the worst single day decline in two years. investors apparently spooked by two things. they re spooked by inflation fears. and they re also being spooked by weak earnings. target is the latest big box retailer to inject fear into the market. it posted that stunning first quarter profit decline of about 52%. i ....
domestic priority on the same day that gas prices hit a new record high. plus, a mixed night for trump-backed candidates in yesterday s primaries. with a win in west virginia, but a loss in nebraska. we ll discuss what this says about the former president s hold on the republican party. and the latest on the war in ukraine. u.s. officials say that vladimir putin is in it for the long haul. thinking he ll be able to wear down western support. we ll hear from the nation s top spy chief. good morning. welcome to way too early on this wednesday, may 11th. i m jonathan lemire. russia claims its forces have made significant gains in eastern ukraine, three weeks after moscow launched renewed offensive there. the russian defense ministry yesterday said its troops have advanced to the border between donetsk and luhansk the two russian-speaking provinces together known as the donbas. the ministry said it now controls more of the region than it did before the war starte ....
wow. americans heard and responded with a resounding ew. bizarre. president biden whew. on defense. over high consumer prices. there you go, inflation in the morning. he says inflation is a top domestic priority. and, again, takes aim at maga republicans. we re going to play for you his new comments and have the new inflation report when it crosses later this morning. plus, a mixed night for trump-backed candidates, with a win in west virginia, but a loss in nebraska. boy, that nebraska loss, statewide, it may show again, it may be easier for donald trump to win in smaller congressional races, much harder, statewide, in states like nebraska. maybe pennsylvania, we ll see. we ll discuss what this says about the former president s hold on the republican party. and ukraine reports new gains in kharkiv, saying it has managed to recapture villages. and is pushing back russian forces. we ll have the latest on the counteroffensive in a region that has c ....
Prepared for a long conflict. this is just the early stages of this conflict, in my opinion. so what the ukrainians must do, as i mentioned, is to gain offensive strength, offensive weaponry and really plan to take back the territory that they have lost in this conflict in 2022 and then look to re-gain the territory they lost in 2014. but that will take a long effort, a long, hard effort. we re at the point where nato and the u.s. maybe needs to have a conversation with kyiv, with president volodymyr zelenskyy, maybe suggest that it is a pragmatic conversation, that it may be time to trim those war aids, lock in those wins instead of taking this bigger gambit and trying to push russia out of all of ukraine. regardless of whether putin is ....