got air fare to minneapolis and a personalized eagles jersey. love it. by back here in two hours on "the five." more on the state of the union later tonight. here's shep. >> shepard: it's noon on the west coast, 3:00 here in washington where president trump is set to deliver his first ever state of the union address. so let's get to it. and good afternoon. from the russell rotunda on capitol hill, for standing more than a century now on a chilly and about-to-be cold night in washington. it's chamber of commerce blue outside. across from the capitol the president will deliver the state of the union before a packed house as you might imagine. we're told his speech will be one of bipartisanship and the theme building a safe, strong america. looming over tonight's address is the investigation of his presidency. the special counsel, robert

mueller, is now trying to determine whether team trump colluded with russia. last night house republicans voted to release a once classified memo written by the republicans themselves about the russia investigation. one said to criticize the fbi and the department of justice. democrats have called that document a set-up of edited gop talking points, meant to serve as a distraction. this evening at 9:00 eastern time, president trump will walk into the house chamber as members of his party look for hand shakes or hugs before he speaks. millions at home will be watching across all of the networks. a select few will be right there watching live as history happens. among the gusts sitting with the first lady, a police officer and his wife who adopted a baby from parents that were addicted to opioids, just one story from a nationwide epidemic. the first blind double amputee to reenlist in the u.s. marines.

a firefighter from southern california who saved dozens of children from a wild fire. and other americans from different walks of life. the "boston globe" points out also in attendance will be lawmakers the president has attacked through twitter. democrats who have demanded he be impeached and members of committees investigating his campaign, contacts, discussions and otherwise with the russians. interesting crowd to be sure as president trump prepares to take the podium. in this hour we'll travel down pennsylvania avenue to the white house to see how the president is now preparing. we'll preview his speech with the fox news sunday anchor chris wallace and i'll speech with a former speechwriter from george w. bush and how writers construct the addresses and the points the president needs to hit tonight. first, the president's speech comes as lawmakers on capitol hill are divided on whether to release the ones secret republican memo written by a republican about the russia

investigations. the president has five days to decide whether to block the release. the white house has said it's reviewing the documents. it's widely reported the president wants it released as soon as possible but after the state of the union address. possibly tonight. we'll see. republican devin nunes of california is a supporter of the president and served on his transition team. some republicans say the memo reveals the fed's misused surveillance powers as part of the russia investigations. democrats say republicans distorted portion to make misleading claims so that americans will be less likely to trust the justice department, more likely not to believe the institutions of our government that have stood for centuries. instead, to believe, well, what they're saying. gop members also block democrats from releasing their own memo, which they say would clarify some of the points which were intentionally, they say, misleading on the republicans

party. the special counsel robert mueller is looking into moscow's meddling in the 2017 presidential election, possible collusion and whether the president obstructions justice. president trump has denied those claims. the chief intelligence correspondent catherine herridge is live in washington. >> a south familiar with the matter says that two fib officials, one from the counter intelligence division, have now reviewed the staff memo alleging the abuses of government surveillance programs in the 2016 election. the source says the official could not point to any factual inaccuracies in the memo. the fbi offered no comment today for fox's reporting about the senior fbi officials and their conclusions about the memo. after the contention house intelligence committee vote monday night, the source confirmed that house staffers physically took the memo to the white house for the president who has you mentioned has five

days to voice reservations or objections. writing in a january 24th letter assistant attorney general stephen e. boyd called the memos unprecedented and reckless. fox news was told the memo was drafted to eliminate national security information that could be harmed if it was viewed by individuals outside of congress and in the last hour justice department official has confirmed to fox that they have done their own review of the memo and they're no longer applying the term reckless to the release but offered no further explanation, shep. >> shepard: what else are you hearing from the white house today? >> shep, the white house spokesman said on fox earlier the president will likely run out the clock. >> this is a congressional action. the president doesn't have to sign it to make it declassified. he doesn't have to say a word. in five days it becomes public. >> it's worth reminding people

that the democrat's memo is now available to all lawmakers in the house but won't be publicly released and they have to get a majority votes. you can tell with the political climate, that is entirely unlikely. it was table that christopher wray would be brought to the house to debrief the memo. that was also voted down by republicans, shep. >> shepard: thanks, catherine. >> you're welcome. >> shepard: the white house says the tone of the state of the union address will be bright and optimistic. officials say major topics will include jobs and the economy, plus infrastructure, immigration, trade and national security. the white house says president trump will cover some things that people may not expect. team fox coverage continues now from john roberts live from the north lawn. what do we know about how the president is preparing for tonight? >> good afternoon, shep.

last year like every president has done before him, when it comes to giving the state of the union, the president is honing the final texts, going over edits, adjusting language and some themes. i'm told to pay very close attention to the north korea section of the speech. i'm told it's very tough and it may be the most memorable part of tonight's speech. they've worked on this for months. the first rough draft was released to the president sometime in december. the first actually presentable version wasn't given until he was on the plane to switzerland. the president is always at the center of any kind of writing around a state of the union address. let's put it on the screen. some of the other members of his team that have been working on this for months. includes mike pence, stephen miller, h.r. mcmaster, the national security adviser, rob

porter, the staff secretary and two other aides that are helping to write the speech as well. miller is known for drawing a hard line on issues like immigration, but the white house is saying this is going to be an uplifting, forward-looking and bipartisan speech in which the president will reach out to democrats to try to get some things done in 2018. at a lunch with tv journalists, the president said i want to see our country united. it was divided, not just under president bush or under president bush, i remember the impeachment of bill clinton. tremendous divisiveness. if i can unite this country, i would consider it to be a tremendous success. it's an opportunity for the president to grasp the attention of the nation. much the same way as he did last year with his first address to congress. not an official state of the union. listen what sarah huckabee sanders said earlier today on fox. >> there has been a lot of things that the media has tried to distract from the successes of the president.

tonight this is his stage and his time to talk to the american people directly and you'll see a lot of the president himself come through in his words at the state of the union tonight. >> his speech last year in a joint meeting of congress was very well-received, but the after-glow only lasted for hours because you'll remember it was shortly after that that jeff sessions, the attorney general announced he would recuse himself of the investigation and the coverage went out the window with that. the hoping that won't happen tomorrow after the speech tonight. >> the first lady has been noticeably absent since our corporate cousins reported an alleged pay out to an adult entertainer. word is she will be there tonight. >> she will be there tonight along with three of the president's five children. ivanka trump will be there as

long as eric and don jr. baron will not be there. the first lady was expected to travel to davos. went to reports came out, she went to palm beach instead. we don't know the situation that led her to go there or what she was doing while she was there. her communications director shooting down any notion of discord in the trump family saying "breaking the laundry list of salacious and false reporting about mrs. trump by tabloid publications and tv shows has seeped into mainstream media reporting. she's focused on her role of her family, not the fake news." she's going to have in her box tonight some 14 guests, maybe a couple more than 14 as well, including corporal matthew bradford. showed a picture of him. he was meeting with the president in the oval office today. here's a tweet by the social media director. he was injured severe will in iraq in the mid 2000 decade when he stepped on an ied.

he lost his sight and both legs and became after that the first blind double amputee to reenlist in the marines. a brave fellow. he will be there tonight. >> shepard: incredible story. thanks, john. the president says he's been trying to get a deal done on immigration and that tonight he will make his case as best he can during the state of the union address. we'll preview that with "fox news sunday" chris wallace. one of the big news comes out of new york city. the dow is tanking. the dow has been down as much as 400 points today. it was down about 360 at the moment. 1.36%. the nasdaq off .8 and the s&p off a full percentage point. we'll be watching that and explain what triggered this with less than an hour to go less than a closing bell on a busy news day from the russell rotunda in the nation's capitol. good to have you in. my day starts well before

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>> shepard: 14 minutes passed the hour. the president will use part of his state of the union to make his push for immigration reform in a build initiative it is. he acknowledged that he will need support from democrats and republicans to make anything happen there. the white house proposes a pathway to citizenship for nearly two million undocumented immigrants, including the 700,000 dreamers, those who parents brought them to the united states without documents when they were children. the white house is also asking

for $25 billion for border security and changes to some immigration procedures like the visa lottery system. democrats and republicans have criticized the president's immigration plan. peter doocy is here. how do republicans want him to go about making this push for immigration? what to they want? >> they want him to use the big stage to tell the democrats in the chamber that there's not going to be a daca deal unless there's major improvements made to border security. >> i think the president has made it clear, he's willing to do a deal. he wants border security. the american people elected him for border security. we've got human trafficking, drug trafficking and money laundering across that border. in exchange for border security, he will go beyond what democrats have wanted for the daca kids. >> the lawmaker in charge of convincing house republicans to vote for whatever immigration

plan leadership decides they like, steve scalise says they should be considered a border security deal with daca as an addition as opposed to a daca deal with border security. >> shepard: how are the democrats -- what is their push here? >> right now their push is to make sure known of their lawmakers have a loud outburst or be escorted out. nancy pelosi said if you're going to interrupt, don't come. they're trying to avoid the bad press. we talked to senator dick blumenthal, he said he thinks the president's tone will establish whether or not a daca deal is close. >> i hope the president will really seize the moment and chart a positive path on the dreamers and the opioid epidemic and infrastructure and abandon the flagrantly partisan

demagoguic rhetoric his used in the past. >> there there will be dreamers in the gallery. the hope is that the president will see the dreamers are there and they're patriots. >> shepard: blumenthal has looking for a bipartisan tone. the president has said we should expect a bipartisan tone. striking one is a highest priority they've said. what could the president say that might begin to unite a divided nation? is it possible for one speech to do such a thing? we'll spoke with "fox news sunday" chris wallace. it's tuesday and he's working. call the affiliates! stay with us. it's fine. because i get a safe driving bonus check every six months i'm accident free. and i don't share it with mom! right, mom? righttt. safe driving bonus checks. only from allstate. switching to allstate is worth it.

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>> shepard: one of the things tv geeks wait for during the state of the union address, every year

whoever the president is going back as far as i can remember, the president will say the state of our union is and they will fill in the blank. sarah sanders spoiled that. she said yesterday that the state of our union is incredible. the president could say something else tonight. for now at least, the state of the union is incredible. the white house has also told us that we can expect the unexpected in the speech tonight. so let's turn to chris wallace now, the host of "fox news sunday" to see what might be unexpected. what are they trying to tell us there? >> well, if anything, and we know donald trump is a showman, saying unexpected is to get more people to tune in. he got a big audience last year. >> shepard: absolutely. >> you talk and there's been a lot of conversation so far in this program about a bipartisan tone. it's going to take more than tone to get agreements of something like immigration. it's going to take bipartisan details. some would argue the president

has already made a huge concession when he said that he's willing to access 1.8 million people, about double the number of people that were already signed up in the dreamer program. people also who were eligible that have not signed up. 1.8 million and give them a pathway to citizenship. that has created heartburn on a lot of the conservative immigration hard liners. he's demanding a lot in return for that according to the democrats at least. too much. so whether they can get to a bipartisan deal or not, my guess is there's going to have to be give on both sides. >> shepard: they've been talking about immigration reform a long time. getting to a place where it's close enough to get something accomplished. do you see they're close enough to where they might be able to do that? >> not on the president ideal. i think the president has made a huge concession by saying that he's willing to give a pathway to citizenship. no matter how sympathetic the

dreamers are, they entered illegally. there's a lot of people that consider this amnesty. that's a big concession on his party. he's going to want something in return. my guess is the wall isn't a hold up. to a certain degree when they had the budget shut down, schumer basically gave that away and say we would be willing to give that. the democrats would give $20 billion or whatever it cost to build the wall. a bigger issue is the real limits on chain migration, family reunification, whatever you want to call it and also the visa lottery. is there a deal to be made? yeah, there's been a deal to be made for a couple years now. the question is to get the two sides together around the details 0 a specific deal. >> shepard: another thing they have been teasing us with, eye-opening statements on north korea. i have no idea how to interpret

that, do you? >> no, i can't imagine in terms of hard rhetoric or threats to the kim regime that could get any tougher. when you call somebody little rocket man, i'm not sure how much further you can go. in addition, i can't imagine how the president wants to inflame that issue a week before the olympics start. that doesn't make much sense to me. on the other hand, if there's been any kind of a diplomatic outreach, you know, that would be quite a surprise. we've had no sign of that. it's one of those things you'll have to wait and see. >> the president can declassify something by telling us all the he wants to. so when they say eye-opening statement or eye-opening details on north korea that nobody knows -- >> we can speculate about it. you know, i would be a little surprised if -- you know, i

heard john roberts suggest that that might be the headline of the speech. you would think that the president, unless there's good news, you would think the president would want the headline of the speech to be to take a much deserved victory lap on the economy, which really has been going great guns. the dow jones today to the contrairy not withstanding. record lows on unemployment. he can take a victory lap on what he accomplished in 2017 and talk about continuing it with immigration reform and infrastructure and trying to get everybody together and give a kind of a platform for republicans to run on in the 2018 mid-terms. i'd be surprised if he wants north korea to be the headline coming out of this. i don't know. >> i don't know either. you've seen a few of these things. we've been watching these speeches together a long time. do you remember a time when a speech just a state of the union speech was able to unify or have

any great force on the populous one way or the other? >> no. i hate to say it, it's saying don't tune in tonight. we always overhype them. afterwards we go well, it was interesting. i think it's going to be great theater. donald trump is always good theater. i expect him to make a solid speech. he always does. in terms of changing the mood in washington or creating new impetus for deals or healthcare or any other issues facing the nation and the world, it's just not what happens. >> shepard: right. you're right. as you always are. chris wallace, host of "fox news sunday." working on a tuesday. how does that feel? >> let me say, i don't want to make a habit of it. >> i don't blame you. the suit needs company. >> i don't see you on sundays. this is my sunday. this is my weekend. >> shepard: i do my best to avoid those days. sometimes they creep up on you.

chris, great to see you. thank you. >> thank you, shep. >> shepard: we have coverage all over the whole fox world tonight. martha and brett, you know them, they'll be here on this chance, the fox news channel. cavuto will be on the business version of what we do here, the business version. cavuto will be there. john decker will be on the radio thing. we do a radio thing here at the fox. we also have a broadcast network where they play football on sundays. i'll be leading that one. if there's any more foxes out there that i can't think of at the moment, they too will have coverage tonight of the state of the union. so if you need that, tune to any of those foxes and they got you. got you all the time. reaction divided here on capitol hill after house republicans voted to release that house republican created memo. when we look back on it, it may be like you created a memo that made it controversial and talked about it a long time and decided to release your own memo. then wouldn't release the memo

from the other people because, well, we're in charge. yay! and speaker paul ryan says he wants it out there, obviously. the minority leader nancy pelosi says the memo is irresponsible and reckless. but it got us to talk about it. didn't it? so there's that. oh gosh. my mom brought us to the united states from nigeria. because she wanted to give us a different type of opportunity to go further with our education. in doing that she sacrificed a lot. the main reason i wanted to get my phd was to continue my mother's purpose in bringing us to this country and to build a foundation here for my family. ♪ ♪ i thought i was managing myd a moderateon here for my family. to severe crohn's disease. then i realized something was missing... me.

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deputies say the area smelled like alcohol and weed. he could face charges. snow coming to the northeast and freezing cold winds here in washington. just in time for the state of the union address. forecasters say eight inches of snow could come in when a weather advisory is also in effect in certain areas. it's late january. i'm glad my doctor prescribed lyrica. for some, lyrica delivers effective relief for moderate to even severe fibromyalgia pain. and improves function. lyrica may cause serious allergic reactions, suicidal thoughts or actions. tell your doctor right away if you have these, new or worse depression, unusual changes in mood or behavior, swelling, trouble breathing, rash, hives, blisters, muscle pain with fever, tired feeling, or blurry vision.

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>> shepard: top lawmakers in the house of representatives are defending their vote to release the memo. #releasethememo. some people that have read it says the memo claims the justice department says the fbi and justice department abused their power to get a fisa warrant. democrats say it's all misleading and made up by the republicans to try to distract from the investigation into russian meddling. paul ryan says he wants that information out in the open. >> there may have been

malfeasance at the fbi by certain individuals. so it's our job in conducting transparent oversight of the executive branch to get to the bottom of that. what we want is all of this information to come out so that transparency can reign supreme. >> so devin nunes wrote one memo, the republican memo. the democrats as a result wrote a memo of their own. but they voted on releasing it. because there's fewer of them, they'll have one of the two memos. the democrats are look like, this is insane. your memo is written by yourself to distract from everything else going on. leader pelosi says, americans should be deeply concerned by speaker ryan's sanctioning of this irresponsible decision and his complicity in allowing the committee investigation to devolve into a sad political spectacle. mike emanuel has been a witness of the spectacle and a spectacle it has been, mike. >> welcome to capitol hill, shep. >> shepard: it's fantastic to be here. >> paul ryan said a few people

at the fbi, not the whole agency a few people at the fbi behaved improperly. cleanse that part of the organization. lawmakers say they're focused on doing a critical job. >> it is our job to conduct oversight on behalf of the american people of the executive branch in case any powers were abused and civil liberties were abused by the executive branch. there's a legitimate issue as to whether or not americans civil liberties were violated. point number 2, this is completely separate from bob mueller's investigation. >> mitch mcconnell said he's not aware of any effort to undermine robert mueller. he doesn't think he needs to take up legislation to protect robert mueller. it's worth that speaker ryan separated this memo from the mueller probe. a lot of folks think it's to undermine the probe. >> shepard: speaker ryan said it.

but democrats are jumping up and down saying this is just a distraction. that's all it is. >> no question about it. nancy pelosi having tough words about this memo and the actions of republican leaders calling it a cover-up. she says the republican memo contains inaccuracies and emissions and could jeopardize the intelligence and law enforcement communities and cause it a sad political spectacle. the senate democratic leader weighs in moments ago. >> i'm appalled by our republican colleagues in reference to this. they have always been defenders of the fbi and protagonists of putin. they seemed to have flipped. they remind me of a movie "the silence of the lambs." they're not saying a thing. >> democrats have complained worrying this could undermine a critical law enforcement agency, the fbi. >> shepard: mike emanuel, thanks very much. >> good to see you. >> shepard: a lot of talk about this memo from the beginning. they began this #releasethememo. and then the russian bots got on

release the memo and sending it out. and then people started to trickle and learn what the memo was about. they allowed everybody on capitol hill to release the memo. they said let's release the memo and no to the democratic memo and the president is saying release it as soon as possible but not before the state of the union is delivered. ken thomas is here with us on capitol hill. he's a reporter for the associated press. what is the word on when they might do the release something. >> they're in a five-day window. they have five days to review it to run it passed the national security council, the white house council. the expectation is once the speech is over in the next couple days -- >> shepard: within a couple days? >> in some form. they have five days to do it. >> shepard: they could release snippets and bits like tonight. >> they could redact it. we think the main thrust of the memo is likely to see the light of day. >> shepard: writing the memo with devin nunes who was

supposed to have recused himself from all of this, right? >> that's right. nunes has been pushing this. our sources tell us that the president would like to see this as well when the justice department aired their concerns about the memo, said it could be reckless to release it. the president wasn't very happy about it. we're told that john kelly, the white house chief of staff was pushing of the justice department to find a way to -- within the law to release it. so the white house has said they're going to err on the side of transparency, but there seems to be a push to get this to the public. >> shepard: democrats say it's a distraction. what is the white house calling it? why are they doing it? >> i think they say this should be out there. the president -- >> shepard: why? >> the president will note there's been cases and concerns of bias within the fbi during the clinton investigation and now during the trump investigation. so the concern is that you get this out in a public way.

>> shepard: there with the accusation that they're tearing down the institutions of the country in the process and since that has become a talking point, they have pulled back. all of them who speak and have been watching on all the channels today, they say oh, fbi is great, it's great, it's great. but some of it needs to be cleansed. they all keep using that word "cleansed." that has historical reference, cleansed. >> shepard: we saw the speaker refer to the louis brandice argument being sunshine the best disinfectant. there's an interesting in getting it out there, but it -- it's concerns. you know, are we in the process of politicizing the fbi, the intelligence community and, you know, our partners around the world are going to look at us and question whether they should share information with us in the future. is it going to be released in some way that they didn't anticipate. >> shepard: or they did anticipate but decided we're going to do it anyway.

thanks, ken. >> thank you. >> shepard: mixed messages when it comes from the trump administration with russia and the russian investigation. the treasury department has released a long list of names. moscow didn't appreciate that with putin calling the list of russian entities an unfriendly act. that came after the state department declined to impose new penalties on russia from meddling back in the 2016 election. the u.s. government is supposed to penalize countries which buy russian military equipment. the treasury department is not move head with that because the sanctions law is enough of a deturn rent. steve mnuchin said that russia could face more penalties soon. this is a fascinating series of

event the past 16, 18 hours. rich edson has it. hello. >> hi, shep. more reaction from russian president vladimir putin. he was joking that he was offended the treasury department of the trump administration left him off this list of russian on oligarchs. he said it looked like it was taken from the kremlin's phone book. officials compiling this list used a 200 richest people businessmen in russia list compiled by forbes last year along with other open sources to help them put this list together. earlier today steve mnuchin defended the list. he said congress will get a classified version of this with more detail and the treasury will brief him on that. he also says the treasury will roll out more sanctions against russians. >> how can sanctions punish russian interference in the ukraine and american elections and deter future interference if these sanctions continue to sit on the shelf unused by the president? >> i don't think in any way we're slow-walking the report that we delivered last night and we look forward to discussing it

with you in a classified setting. >> so this list, the sanctions, is all part of a 2017 law that congress passed in response to russian interference in the 2016 presidential election. the list deadline that was out last night made it. the sanctions questioned is something that now the state department is responsing to. state department officials say there's no deadline yet for them to roll out sanctions in compliance with the law. they're working through the process. on top of that, officials from the united states government are growing to businesses and countries around the world and asking them to reevaluate their business with certain russian entity, shep. >> shepard: thanks, rich. we're told president trump got his first draft of tonight's speech last week. we'll talk to a former presidential speechwriter that knows exactly how these speeches come together. that's next.

>> shepard: quarter till 4 in d.c. now. a kennedy is set to give the democratic response to the

president's state of the union address. the massachusetts congressman joe kennedy, iii, the grandson of the former u.s. attorney general and senator robert kennedy and the great nephew of former president john kennedy. the congressman tweeted that he's honored to deliver the response. party leaders call him a relentless fighter for working americans. some democrats say they hope he will run for the senate. congressman kennedy told the "boston globe" that he's focused on his current job right now and the most thankless job in washington. think back over the responses. he has a tall order ahead. the white house is promising that president trump will deliver an incredible state of the union address. no denying there's plenty to talk about his first year in offense from how the markets have been doing to plans for immigration. his first state of the union comes under the crowd of the russian investigation.

for more on what to expect, wing bring in anika green, a former speechwriter. the most busier person's phone ringing would be the speechwrit speechwriter. >> >> shepard: yes. the truth be told, the president never does it. there's people that do these things and their focus, their goal is what? >> their goal is to capture the voice of the president. they want to sound more presidential than the president himself. yet, the white house keeps emphasizes the process begins and ends with the president. he doesn't have to think about it starting in december, which the white house has said. it's been on some people's minds for a long time. >> shepard: is the goal different with every state of the union address? are there some themes that are universal? >> universally, they want to take advantage of the fact that so many people will be watching and paying attention. this is trump's first state of the union address. he didn't a joint address to

congress last year. he did very well. he's done a dry run. he's been practicing. how much practice a president does depends on the individual. >> shepard: when you conversed with george w. bush about the state of the union and practice sessions, what was the interaction like? would he make changes, do editing or were the themes already decided in advance? >> the president would call a meeting with the senior speechwriters and sit down with key staff. >> a bench of people? >> it's a small group and who they're most comfortable with and who he is comfortable with. he talks about what he really wants to see coming out of the speech. in the trump white house, it may be different. here's some things that you should hit on. for this one, one of the obvious things the economy. coming back from davos and having positive meetings there. working on immigration, the deal

they announced last thursday. the frame work. that would be something. it's both looking at what has been accomplished, so how have the promises been fulfilled and looking ahead to what they want to accomplish. >> shepard: this white house is focusing on immigration among other things. i wonder how you present such a complicated issue with two drastically opposed sides while trying to bring people together? sounds like an enormous task. >> they have said the speech will be bipartisan. george bush tackled immigration and came out with a very good plan that didn't pass. democrats were in control. it wasn't something that moved forward. trump is running the gauntlet again. he's making the effort. really along the theory that nobody will be happy if you do it piecemeal. you have to deal with the security issue and you have to deal with people that aren't criminals. that's what he's announced he's

going to do. >> shepard: should be a fascinating night. i'm excited about it. >> me too. it will be great. >> shepard: the dow today has been diving after heavy hitters announced a plan to cut healthcare costs. the dow jones is down 312 and nasdaq down 54 and the s&p off 25. we'll show you what triggered all of this ahead. first, an update on false alarm in hawaii. when they said a missile is on the way and how investigators say a worker never got the message that this was a drill. in other words, when he sent out that run for the hills, he thought it was coming. that's next. mom? dad? hi! i had a very minor fender bender tonight in an unreasonably narrow fast food drive thru lane. but what a powerful life lesson. and don't worry i have everything handled. i already spoke to our allstate agent, and i know that we have accident forgiveness.

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>> shepard: it's been a bad day on the markets. stocks dropped 400 points on the dow earlier.

three companies announced they're trying to lower healthcare costs for workers. the news sent healthcare costs plummeting. here's a look at the dow now. we were down about 400. down 322 on the dow now. the nasdaq off 28 and the s&p off 27, which amounts to almost 1 percentage point. we're keeping an eye on how things work the rest of the day. gerri willis is live with more. i saw this alert and i was like what does this mean exactly? >> i have to tell you, it's really anybody's guess. we don't have a lot of details. let me tell you what we heard this morning. three of the country's most recognizable ceos, jeff bezos and jamie diamond and warren buffet saying they're going to try to get a solution for healthcare prices for our employees. they want to reduce costs and

improve employee satisfaction. here's what bezos said. the healthcare system is complex and we enter into this challenge open-eyed about the degree of difficulty. reducing healthcare's burden on the economy would improving outcomes for employees and families would be worth the effort. the stock market traders selling first and asking questions later. health insurers taking it on the chin. cigna, united health, anthem, these companies down and down hard. cigna down 1.6%. you can see a big impact from the market. rolled over to pharmaceuticals, healthcare services, a variety of different healthcare companies got hit here. i have to tell you, this may not be as bad as it looks, shep. >> shepard: i know any time that amazon enters your sector to just watch out below. stocks are going to drop. thanks, gerri.

top of the hour headlines coming up.

>> shepard: this just in from hawaii. officials tell us they have fired the worker that sent a false alert about an incoming ballistic missile. the state's emergency management official has resigned. he was convinced himself an attack was underway. that's what the staffer wrote in the statement to investigators. previously hawaii's governor said the false alarm happened after somebody pushed a wrong button. took nearly 40 minutes to correct the whole thing. the worker that sent it blamed a recorded announcement of an attack which included the phrase "this is not a drill." it was a drill but he didn't hear the whole this is not a drill part. in fact, the announcement ended with the phrase "exercise, exercise." by then the worker i guess was so freaked out that he already sent it out and didn't really

know what was happening. he's reportedly not cooperating with the investigation, but he's out now. he's been fired. another has resigned. the story is not over. cavuto picks up the news right now. >> neil: all right. from our nation's capitol, you're watching a special edition of "your world." you might have heard a thing about a presidential speech tonight, the state of the union. the first one. last year, it was a joint address to congress. this carries more of an impact. a market has been soaring except the last couple days and especially today. a 362-point end to the market. the last couple days, it's represents 1 3/4% south here. be that as it may, concern about interest rates moving up and people starting to panic here. we're going to