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good tuesday morning, i'm erica hill. >> and i'm jim sciutto. some major news just in on your money. new key inflation data finds that americans overall are paying less for items. still, however, some sticker shock out there. will the fed now pause its ongoing rate hikes? we're also closely watching bank crisis fears following the sudden collapse of two regional banks. markets open soon. we will look at where things stand today. plus, loyalty loss. former president trump taking his first stage in iowa since announcing his third bid for the white house, sharpening his 2024 attacks. ...

pay a roll is the silicon valley bank collapse. this hour, everything that you need to know. forget frenemies, president trump is acting as if governor desantis is his biggest rival, and the new nickname that trump is using on the trail for desantis and the regret he says that he now has. >> and a powerful nor'easter is hitting hundreds of thousands of people with heavy snow and wind as heavy as 60 miles per hour slamming the northeast and you can see it churning there and a lot to get to this hour, and a lot to begin with the latest on the response to the banking fears. >> cnn bus...

i'm bianna golodryga, welcome to "cnn newsroom." >> i'm john berman. we begin with breaking news. a russian fighter jet has forced down a u.s. drone over the black sea. the u.s. air force says the jet damaged the propeller of an mq-9 reaper drone. >> the aircrafts were operating over international waters when one of the jets intentionally flew in front of the drone and began dumping fuel. the white house says president biden has been briefed on the situation. cnn's oren liebermann is at the pentagon. we also have mark kimmitt. what are you learning? >> this played out early this morn...

that. in terms of where it was flying, it was well-clear of any territory in ukraine. it was international airspace over international water. thank you. nancy? >> thank you. during secretary austin's visit to egypt he held meetings with officials even though all press were banned from covering it. past defense chiefs when they've been in similar situation have refused to proceed. given the biden administration has said one of its key pillars in terms of foreign policy is when presented between a choice of autocrats and democracies that it stands with democracies. can you help us unde...

Hate, hate, hate baby im just gonna shake, shake, shake, shake , shake and ka ching. For taylor swift, the pop sensation has officially reached billionaire status after forbes released their latest rich list. Released their latest rich list. And gen z students are cutting back on alcohol and late night drinking. But are they now ruining the hospitality sector for the rest of us, or are they setting a good example and dazzled by the lights . Do you remember we talked about a little while ago. About this a little while ago. The bright led bulbs the glare from bright led bulbs on car headlights i...