and you'll be able to get -- watch the game from tip-off. guys? >> yep. kings will get back up o to captioning sponsored by cbs >> o'donnell: tonight, we begin with the the state of the american economy, rising inflation and fears of a recession sends stocks plummeting as gas prices nationwide hit $5 a gallon for the first time ever. ( ringing bell ) the bear market roars on wreath. all three major indexes and the day down triple digits. tonight, what to do with your stocks, and when you should worry about your 401-k. the stunning testimony on capitol hill about an intoxicated rudy giuliani. plus the former attorney general saying president trump was detached from reality. tonight, what happened to the $250 million the trump campaign raised to investigate the election. >> the big lie was also a big

ripoff. >> o'donnell: also on capitol hill, the landmark agreement by republicans and democrats on gun legislation. targeting gay pride events -- the new video tonight of the 31 men with alleged ties to a white nationalist group arrested, piled in the back of a u hall. extreme weather, dangerous flooding shuts down yellowstone with nearly 170 million americans set to face temperatures over 90 degrees. our exclusive interview with the first woman to serve as secretary of the army. do you still think there's a problem with sexual assault and harassment in the u.s. army? and jennifer hudson makes history at the 75th annual tony awards. this is the "cbs evening news" with norah o'donnell, reporting from the nation's capital.

sivment good evening and thank you for joining us as we start a new week together. tonight many americans are worrying about their retirement funds as stocks dropped to new lows for the year. the sell button was hit thanks to a rising. the dow down more than 2%. nasdaq dropped more than 4% and the s&p sank more than 3%. the s&p finished in a bear market. the last time that happened was at the start of the pandemic. for those invested in bitcoin and other cryptocurrencies, the crypto market crashed wiping out billions of dollars today. ahead of a closely watched federal reserve meeting today where the central bank is all but sure to raise interest rates and the benchmark could be raised by 785 basis points, the biggest hike in moreine. >> reporter: good evening to you, norah. the markets nose dived today from the start of trading sending investors scrambling.

it's a sharp reversal for the stock market which had seen record highs during the pandemic and now has some economists fearing a looming recession. ( ringing bell ) the closing bell saved the markets from tumbling further. the s&p 500 led the decline today, falling to its lowest point this year, with investors coming to terms with consumer prices rising at their fastest pace in 40 years. cbs news business analyst jill schlesinger -- >> so when the investment community kind of took stock of things over the weekend, i think there was this fear that, in fact, higher prices and riding interest rates are going to keep eating into corporate profits and the consumers are not going to be able to maintain their current level of spending. >> reporter: the drop is the latest in a string of downturns for the markets. tech companies took the brunt. amazon lost 60 billion in market value. apple more than 85 billion, pulling the nbekeriry.

the volatility is a hit to people's 401-ks, while inflation is also pummeling consumers. average gas prices are topping $5 a gable nationwide according to aa. >> it's outraifntle used to cost me 30 to fill it up. now it's at 55. >> reporter: at the the grocery store, food prices h up 10%. adding to the uncertainty is how aggressive the federal reserve will be in trying to cool the white hot cost of living. more economists are expecting a bigger move -- three-quarters of a point, the biggest interest rate hike since 1994. the fed, of course, has raised rates but they've done so in anticipation of the economy heating up, not once the economy has already heated up. and this is a big difference. >> reporter: despite the volatility, financial advisors say reacting to market downturns is not a long-term strategy, but

that now is a good time to make sure that your investments are diverse, and if you are close to rement su mightking a longer to build up your savings like your 401-k. norah. >> o'donnell: all right, elaine quijano, thank you. we turn to capitol hill and the rivetting testimony by former president trump's closest advisors, lawyers and family, who all told him his claims of election fraud were complete nonsense, even nuts. there were also questions raised about the hundreds of millions of dollars team trump solicited online. here's cbs news' scott macfarlane. >> reporter: today, on capitol hill, it was trump's own aides in recorded depositions landing punches for the committee. former attorney general william barr said he warned then president trump that his claims of fraud in the 2020 election were false. >> the early claims that i understood were completely bogus and silly and usually based on

complete misinformation. >> reporter: bar, who was silent about his concerns over tramp's false fraud allegations in the weeks after the election described the president's claims as "crazy." >> i said, boy, if he really believes this stuff, he has, you know, lost contact with -- with -- he's become detached from realtime if he really believes this stuff. >> reporter: the man expected to be the star witness today, former trump campaign manager bill stepien was a last-minute scratch when his wife went into labor. the committee showed recordings of stepien's depositions where he urged president trump not to declare victory on election night. >> it was far too early to be making any calls like that. ballots -- ballots were still being counted -- >> reporter: the president did anyway. >> frankly, we did win this election. ( cheers and applause ) >> reporter: egged on by the apparently inebriated rudy giuliani who told trump the election had been stolen from him.

>> was there anyone in that conversation who, in your observation, had too much to drink? >> the mayor was definitely intoxicated. son--law said he warned th president about rudy giuliani's advice. >> how did he react? said i hadondee in reporter: mike pence who refused trump's demands he certify the ekes will have january 6th defended his >> i'll always believe i did my truth that day. >> reporter: the committee said election lies helped trump raise a quarter of a billion dollars, raised for a fund they say didn't exist. >> it was a big ripoff. >> reporter: millions would be funneled to the president's save america pac which would penned more than $200,000 on trump's hotel properties, 1 million to a foundation led by trump cheech of staff mark meadows, and 5 million to a company that helped organization the january 6th white house ellipse rally that preceded the riot. campaign records show a fraction

of the tens of millions of dollars clicketed by trump affiliated is was used for election. even if donors were schemed, it is different to prove ill legalities, we're told ivmentd they say follow the money. scott macfarlane, thank you so much. also on capitol hill, a group of bipartisan senators are working out the details of the most sweeping gun control legislation in 30 years. the president praised the deal as a step in the right direction but some c nikole, what is in this bill? >> reporter: lawmakers say this great is a significant first step. the proposed framework would provide financial innocentist to states to implement red flag laws. includes an enhanced background review for gun buyers overs 21 and includes mental health and safety.

i it coz not include bans on assault weapons or high capacity magazines. ten senate republicans signed on upping the chances for passage. notably, none are up for reelection this year. the legislation still has to be written and gun safety advocates hope it doesn't get watered down. the n.r.a. wouldn't comment on the framework but says it will continue to oppose carol policies. norah. >> o'donnell: we'll be watching, nikole killion, thank you. tonight federal authorities are observe alert after police in idaho say they prevented a possible domestic terror attack over the weekend. 31 members of the white supremacist group patriot front were arrested on suspicion of plotting to violently disrupt a local lgbtq prized event. catherine herridge has the new o shows idaho police swarming the u-haul truce near a weekend pride celebration in the town of coeur d'alene. jammed inside with heavy year,

alleged members of a white supremacist organization called the patriot front. >> this is a riotous group that planned to come downtown and disrupt either the pride-vent or the prayer in park event. >> all wearing blue khakis. >> reporter: those arrested wearing nearly identical clothing arranged in age from 20 to 40 and from about a dozen of states, no one from coeur d'alene. authorities recovered gear including shields, shin guards and a smoke grenade. a witness tipped off police after watching the group load into a u-haul truck in a hotel and said they looked like a little army. there had been threatening calls against law enforcement ever since. >> offered death threats against myself and other members of the police department merely for doing our jobs. >> reporter: patriot front is described bring groups at monitor extreme eyedology as fascism and creation of a white ethnostate. among the 31 arrested on charge also of conspiracy and released,

thomas thomas, the alleged leader. the group was founded in 2017 after breaking away from a neo-nazi organization that marched in charlottesville, hate rally. tis shows a man litter convicted on federal hate crime charges for driving his car into a crowd of protesters killing one of them. >> there are bad actors that want to leverage the moments and intimidate. >> reporter: given the weekend's massive arrests to federal law enforcement officials tell cbs news they are reassessing threats to upcoming events like in idaho. a lawyer for one to have the defendants arrested said the dftsz never had a chance to exercise first amendment rights and the allegations are unproven. norah. >> o'donnell: now to the weather where wild storms are causing problems in the several parts of the country. in montana, heavy rains flooding and rock slides forced the closure of all entrances to

yellowstone national park. elsewhere dangerous heat is scorching much of the country from the plains to the southeast. for more, mike bettes from the weather channel. >> reporter: good evening. severe thunderstorms take center stage this evening and overnight. detroit, our virtual view, skies are ominous overnight and dangerous. a lot of storms across the midwest that could gust over 75 miles per hour. take a look at the high resolution forecast, shows plenty of storms across michigan and ohio spreading into pennsylvania and the virginias overnight and tomorrow morning, very dangerous conditions with thunderstorms in the forecast that could bring tornadoes. same place that bring thunderstorms get hit with a heat wave to more. upper 90s to 100, including chicago, 99, st. louis 100 wednesday. 90 pittsburgh, 98 detroit, the heat relents in weekend but returns next week. >> o'donnell: thank you, mike.

now to our exclusive interview. over the last five years we've committed to reporting on sexual assault and hartment within the military speaking of dozens of survivors and families of victims. real changes may oay as the secretary of the army christine wormuth told us. what is is your legacy? >> to reduce harmful behaviors. >> reporter: secretary wormuth spent last year visiting 30 bases meeting with tens of thousands of soldiers. do you still think there's a problem with sexual assault and harassment in the army? >> we do. we've got a problem in the country so i know we have it in the army. every leader at every level is focused on this, cares about it and takes the problem seriously. >> o'donnell: a new government study found reports of sexual harassment and assault in the army continue to rise. >> a lot of it, i think, is training our soldiers, many of whom are just 18 or 19 years old, about what's acceptable and

what's not acceptable. when they come into our army, we need to be very clear about what's okay and what's not okay. >> o'donnell: congress passed significant military justice reform, taking prosecution of assault cases out of the chain of command. that should help with soldiers who told us they fear retaliation. >> it got to the point where i didn't just wish that i never reported, i wish i had never joined. i wish that i was dead. >> o'donnell: the reason many women and some men don't report is the fear of retaliation. >> that's right. from the u.s. army itself. i think there has been that fear and i still hear about that, when i go and visit army posts. woe are, i believe, making real strides to show our soldiers that they can trust the chain of command to look out for them. >> o'donnell: in all my reporting on this issue, this is a national security problem. we need more women in the u.s. military.

>> i agree that we will be stronger in the army with more female leaders. i have watched our military leaders go in front of congress ten years ago and say we're going to fix this problem, we're going to fix this problem, so i know there's a credibility gap there but we are working on it every single day. >> o'donnell: a separate priority for the secretary is improving the quality of life thermy's 400,pa >> we did just put a newpolicyms hia. so, for example, in the very sad case of a lost pregnancy, we now provide leave for both men a women when there's been a miscarriage. we've done simple things, frankly, by just allowing women who've given birth to have up to 12 months before they take their physical fitness test. simple things that make complete sense and are really important in terms of retaining the great soldiers that we have. >> o'donnell: secretary wormuth's career start as the pentagon as a presidential fellow when she's just 22 years

old. today she's the first woman and mom to hold the role as secretary to have the army. >> when i go visit army posts, a lot of young female soldiers come up to me and are excited, and i think it's because they see me and see what they can achieve themselves. >> o'donnell: secretary wormuth told cbs news she wants people to come forward with sexual misconduct claims. she intends to sign a safe report policy to protectet intr. anistoa ne report abouthe and eof the c-1 th a dozen airm stretch crouse canyon. moving his money into his investment account in real time and that's... how you collect coins.

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>> o'donnell: the 75th tony awards celebrated the return to the stage following nearly two years of covid shutdowns. cbs's lana zak looks at the highlights that shined brighter than the neon brights on broadway. ♪♪ ♪♪ ♪♪ >> reporter: it was a joyful salute to broadway's comeback. jennifer hudson launched into egot status winning as a co-producer for a strange loop. the only the second african woman honored with an emmy, oscar and tony, whoopi goldberg was the first. ♪♪ veteran artists celebrated the

night with nostalgia. ♪♪ ♪♪ billy crystal led the crowd in a yiddish twist on a jazzy scat. patti lupone won her third tony and paid tribute to those who made broadway possible. >> a huge graduate to all of the understudies across all stages in new york. ♪♪ ♪♪ >> reporter: 22-year-old myles frost gave a fresh kick to the hits of michael jackson winning for his role in m.j. the musical. ♪♪ this as works of diversity and inclings were cheered, the story of a gay black theater artist in a strong loop took two tonys include writer. >> i felt misunderstood. >> reporter: broadway's black lights reflecting the many faces of the audience. ♪♪ lana zak, cbs news, new york. >> o'donnell: it's good to have broadway back. we'll be right back.

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thanks for starting the week with us. >> judge judy: ms. stewart said to you, "let's exchange information." >> announcer: an accident victim gets blindsided again. >> judge judy: so you told her you had no registration... >> yes. >> judge judy: ...you had no insurance. >> nor a driver's license. >> judge judy: you had no driver's license? >> announcer: but are good intentions good enough? >> i was on my way to do that. >> judge judy: you weren't taking it to the department of motor vehicles. you were driving your daughter to school. >> i don't even have a car no more. >> judge judy: that's a good thing. >> announcer: "judge judy." you are about to enter the courtroom of you are about to enter the courtroom of judge judith sheindlin. captions paid for by cbs television distribution cata stewart is suing fellow motorist, darmaryi gonzalez, for car damages resulting from an accident. >> byrd: order! all rise! your honor, this is case number 304 on the calendar in the matter of stewart vs. gonzalez. >> judge judy: thank you. >> byrd: you're welcome, judge. parties have been sworn in.

you may be seated. >> judge judy: ms. stewart, am i correct? dedrnt u tu haant's e the subjef this case. each of you claim that theth >> yes.sible for t >> judge judy: on what date did it happen? >> on march 21, 2016. >> judge judy: what time? >> 7:30 a.m. >> judge judy: and where were you going? >> i was on my way to pick up an uber fare. >> judge judy: and where were you going, mr. gonzalez? >> i was taking my kids to school. >> judge judy: did you have insurance? >> no, i did not. >> judge judy: so that's why we're here. >> yes. >> judge judy: you were pulling out of your driveway. >> yes. >> judge judy: and you were making a left-hand turn. >> i was, onto eagle. >> judge judy: and you had the light. >> yes. >> judge judy: so far, are we correct? >> there's no light right there. >> judge judy: is there a stop sign? >> stop signs, as you can see, but there's no lights or anything. >> judge judy: okay. and...? >> and i made the left-hand turn. i had proceeded about two car lengths onto eagle, and as i passed the second car on my right, mr. gonzalez hit me. >> judge judy: passed? >> there was two parked cars on the right side -- >> judge judy: show me where. >> sure. so, as i turned -- >> judge judy: show me where the two parked cars were. >> see where the bushes are