Hillary Howard, Brendan Hazleton, Mike Jacques discussed on WTOP 24 Hour News


Evening I'm Hillary Howard And I'm Brendan Hazleton Mike Jacques is our producer Among the top stories we're following for you this evening it was a brutal end to a lousy week on Wall Street The day way down which culminated a very bad week in a terrible month Chief economist Diane swank on what's happening Margins are being squeezed by everything from supply chain problems to escalating costs And today we also saw the employment cost index come out at its fastest quarterly pace in over 30 years She expects the fed will move head on into several rate hikes starting next month This could be the most rapid rise in interest expense and tightening of credit conditions that we've seen since the 1980s as we move into this period And the spheres and reality that we could actually end up in a recession are starting to shut in At the close the Dow plummeted over 900 points the S&P 500 down 3.6% the NASDAQ wrapped up April with its biggest monthly loss since 2008 CBS News special report I'm Stacy Lynn Meantime House speaker Nancy Pelosi in other news says it's critical for Congress to move quickly to pass the president's massive aid package for Ukraine More on that from Capitol Hill in WTO's Mitchell Miller This is historic Speaker Pelosi referring to the $33 billion in aid for Ukraine which includes $20 billion for military assistance She says lawmakers are already working on the legislation But there could be complications in the Senate where Republicans want a vote related to title 42 and the president's plan to drop the policy which allows for the rapid rejection of migrants at the southern border There's also not total agreement on new COVID funding which Pelosi is pushing for We need the Ukraine money We need the COVID money So this is called legislating and we'll have to come to terms on how we do that On Capitol Hill Mitchell Miller WTO P news Also today Russian missiles rocked Ukraine's capital city of Kyiv that was actually last night in a text could be happening inside of Russia More on that from WTO P national security correspondent JJ green Border attacks are taking place in multiple locations along the border with Ukraine Russia's border with the Ukraine and what we're hearing is that these attacks are coming from inside Ukraine Ukraine is not going to say they did it That's not what they do But they have said though that this is something you should expect in a war like this Russia recognizes now there have been 11 attacks since February 24th when this war started And the tempo of these attacks seemed to be picking up Again that's WTO national security correspondent JJ green 6 35.

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