app on your cell phone or connected tv. i'm tt piper. it's thursday, may 19th, 2022. this is the "cbs morning news." race to restock. new action is taken to address the baby formula shortage in the u.s. how some relief will will come from overseas. [ cheers ] trt plunge. the dow suffers its worst day in two years. the warning from retailers amid historic inflation rates. rising cases. the cdc urges tens of millions of americans to mask up once again. two regions that are most at risk right now. well, good morning, and good to be with you. i'm anne-marie green. the white house is taking a major step to help with the nationwide shortage of baby formula. president biden is demanding suppliers ramp up production by

invoking the defense production act. he's under mounting political pressure after safety concerns forced abbott nutrition to close down its manufacturing plant, the largest in the country. elise preston is in new york with the latest. good morning. >> reporter: good morning, anne-marie. the move can't come soon enough for millions of families who have been struggling to find formula for weeks. president biden is invoking the defense production act to increase the manufacturing of baby formula. >> the defense production act gives the government the ability to require suppliers to direct needed resources to infant formula manufacturers before any other customer who may have ordered that good. >> reporter: mr. biden is also authorizing the pentagon to fly in formula from overseas producers. >> i know parents all across the country are worried about finding enough infant formula to feed their babies. as a parent and as a grandparent, i know just how stressful that is. >> reporter: formula has been in short supply since abbott nutrition had a recall earlier

this year. the fda reached an agreement to reopen abbott's largest plant, but it's not expected to fully ramp up for two months. >> this is awful. >> reporter: the relief can't come soon for morgan heid and her baby. >> most women are worried about losing weight and getting into their clothes. all of us are worried about how are we going to feed these little babies. >> reporter: health experts are asking families not to hoard >> if i'mwo can te tough 10 t 1 s ng to the sthg. two democratic-led bilo address the shortage, though it's unclear if either has the republican support to pass the senate. >> the bill is passed! >> reporter: one makes it easier for low-income families to obtain formula, the other boosts fda resources to address this crisis and prevent future issues. now more than half of the

formula bought in the u.s. is bought by consumers under the wic program. that's for low-income women, infants, and children. the house bill expands the types of formula they are allowed to purchase. anne-marie? >> elise preston in new york, thank you so much. the department of homeland security is warning about an increased threat of extremist violence after the leak of a draft supreme court opinion striking down the constitutional right to an abortion. the "associated press" obtained a memo to local government agencies that says that violence could come from either side of the abortion issue or from other types of extremists seeking to exploit tensions. yesterday the justice department announced the u.s. marshals service has the supreme court justices under 24-hour security. and investors are hoping for a better day on wall street after stocks plunged on rising inflation costs and fears. a recession. all three posted big losses. the dow fell more than 100 -- more than 1,100 points.

the nasdaq dropped 566 points, and the s&p 500 was down 4%. ed o'keefe has more. [ bell ] >> reporter: it was the biggest one-day point drop in two years on wall street as the nation's top retailers warn price spikes are affecting their bottom line. target announced a 52% drop in profits last quarter blaming the growing costs of gas and transportation. its stock lost a quarter of its value. other retailers took double-digit hits following walmart's stock performance, the worst in more than 30 years. the global economic slowdown caused by covid-related factory closures in china and the war in ukraine has led too to record gas prices and a worldwide food shortage since ukraine's grain can't be shipped out. >> everyone's struggling with the gas prices. of the prices of food went up. >> reporter: janet yellen says it's the cost of trying to stop vladimir putin. >> there would be spillover effects, and that we are prepared to pay --

>> reporter: president biden had hoped that the federal reserve could raise interest rates to ease inflation, but chairman jerome powell now warns that might not do it. >> whether we execute a soft landing or not may depend on factors we don't control. >> reporter: it all presents yet another big challenge for the president and his party. hoping to retain control in the fall's midterm elections. the white house tried to brush off the stock market plunge. >> there's not something that we keep an eye on every day. >> reporter: one day of bad stock prices is one thing, but polls show most americans disapprove of how the president's handling inflation. one way he's thinking of tackling it -- working with asian nations and streamlining the supply chain concerns when he visits south korea and japan later this week. ed o'keefe, the white house. president biden will host leaders from sweden and finland today at the white house. he expressed support for both countries after they applied to join nato yesterday. meantime, the u.s. flag was raised above the reopened

american embassy in the ukrainian captain city of kyiv. the embassy closed in february ahead of the russian invasion. u.s. diplomats have started returning after being temporarily relocated to nearby regions. the first russian soldier accused of war crimes in ukraine pleaded guilty to murder. the 21-year-old tank commander admitted that he shot a 62-year-old unarmed civilian riding a bike and talking on a phone in february. prosecutors said the soldier was ordered to shoot the civilian to stop him from reporting the russian unit's location. the 18-year-old man accused of killing ten black people at a buffalo supermarket is set to appear back in court today. he's already pleaded not guilty to first-degree murder. yesterday new york state announced that it is launching an investigation into social media platforms used by the alleged shooter in connection with saturday's attack. they include twitch, four chan and eight chan and discord where

the shooter invited people to see his plans about 30 minutes before the shooting. and in an effort to help healing the community, members obuffo bf shooti yay shirts reading "choose love." they laid flowers at a makeshift memorial and handed out food and supplies. >> lot of emotions came from this. just trying to be a positive, be a positive in this community, be a positive around the world. show an example of like we can come together and be as one. we can show love. weed out hate. >> the bills and the nfl said that they will donate $400,000 to local charities. the race for the republican nomination for senate in pennsylvania is still too close to call. celebrity dr. mehmet oz holds a slim lead over former hedge fund manager dave mccormick. now tens of thousands of votes still have to be counted including at least 22,000 mail-in ballots. the race is close enough to trigger the state's automatic recount law. oz was endorsed by former

president trump. the winner will face lieutenant governor john fetterman who won the democratic nomination as he recovers from a stroke he suffered last week. coming up, a new covid prediction. what the cdc is saying about possible covid rates in the coming months and when places will be hit the hardest. and something new under the big top -- how ringling bros. is staging a comeback. this is the "cbs morning news." comeback. there of this is the morning morning. policy you no longer need? now you can sell your policy - even a term policy - for an immediat. realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. i'm on a mission to talk to people about

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the greatest show on earth is planning a comeback, and there's a new covid warning. those are some of the headlines on the "morning newsstand." "the new york times" reports federal health officials warn that there could be a substantial increase in covid cases in the coming months. the cdc says cases in the u.s. are rising, and a third of the country lives in high-risk areas. they're mostly in the northeast and the midwest. officials urge hard-hit areas to consider reissuing calls for indoor masking. >> we've seen with prior increases in infections and in different waves of infection have demonstrated that this travels across the country and has the potential to travel across the country. so i think the important thing to recognize is that we actually have the tools to prevent it. >> the cdc says the seven-day average of covid hospital admiions rose 19% over the previous w the "associated press" says so-called pharma bro martin shkreli was released from a pennsylvania prison yesterday

after serving about five years of a seven-year sentence. he was convicted of securities fraud and other charges for defrauding investors and two hedge funds in a drug company. officials say he will likely be released from federal custody in september. and "usa today" says ringling bros. will launch a new version of its greatest show on earth in the fall of 2023. the famous circus was shut down in 2017 after 146 years following declining ticket sales and concerns over its treatment of animals. organizers say that the new version will be a multi-platform entertainment franchise and tour without animal acts. the company says that it is conducting a worldwide search for new talent. well, still to come, crash test ratings. we're going to show how midsized suvs performed in tougher situations. looking to get back in your type 2 diabetes zone?

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here's a look at the forecast in some cities around the country. ♪ a rocket carrying boeing's starliner crew capsule is set to launch today. this is the company's third attempt to complete an unpiloted test flight to the international space station. software glitches derailed the first flight attempt in december of 2019, and then corroded valves stopped the second attempt last august. the starliner will carry 500 pounds of crew supplies and equipment. suvs are some of the most popular vehicles on the road, but how do certain models hold up in crash tests? naomi ruchim has the results. >> reporter: one by one the insurance institute for highway safety smashed into 18 different midsize suvs looking to see how

well they protect passengers in a side crash test. and this year's test was tougher. the iihs introduced a larger barrier that travels faster to simulate the larger vehicles common on the road. >> the growth of suvs and pickup trucks in the united states has resulted in heavier vehicles being involved in these kinds of collisions. >> reporter: iihs president david harkey says half the midsize suvs tested received a good rating. the rest came in at acceptable or marginal. the results are much better than recent testing on 20 different small suvs. only one received a good rating. do you feel confident that carmakers can and will make changes based on these results? >> we are confident in the auto industry and that they will respond to this new test. there's no doubt that they can do it, it's just a question of how long it takes them to employ some of the additional perhaps structural measures, restraint measures that will protect the

occupants. >> reporter: the iihs will soon perform side crash tests on other vehicles including sedans to see how they handle the impact. naomi ruchim, cbs news, new york. a campaign is under way to save the famous mirage volcano on the las vegas strip. more than 5,600 signatures have been collected on change.org. the fiery water show attracts tourists from across the world every night. it's been in operation for more than 30 years. but there are plans to demolish it after the casino was bought by hard rock international. >> the great attraction i think. it's unique. >> it's the fire, the music, the water. >> it's going to possibly go away or is going to go away is a bummer. >> hard rock will build a guitar-shaped hotel on that property as part of a $1 billion transformation. up next, taylor swift gets an honorary degree. we'll show you what the pop star hadto say at a commencement ceremony. to say at a commencem

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walk on by ♪ and that's exactly what this bear did. it walked on by. police in utah stopped traffic tuesday to let the big animal cross the street. they said someone called authorities and expressed concern about the bear approaching the highway. an officer followed it back to some nearby mountains to make sure it was safe. actor tom cruise hit the red carpet at the cannes film festival. the "top gun maverick" cast and crew posed for the paparazzi to promote the sequel. fans camped out to catch a glimpse. it was the first time cruise attended the festival in about 30 years. the movie was held back two years due to the pandemic. the french air force thrilled the crowd at the screening with a fly-by salute. eight jets sprayed the sky with red, white, and blue smoke. and taylor swift took center stage at yankee stadium, but not for a concert. the pop star joined the new york university class of 2022 for their commencement ceremony yesterday. swift received an honorary

doctorate of fine arts from the school, and she told graduates life has taught her a few lessons along her journey. >> my experience has been that my mistakes led to the best things in my life, and being embarrassed when you mess up, it's part of the human experience. getting back up, dusting yourself off, and seeing who still wants to hang out with you afterward and laugh about it, that's a gift. >> swift told everyone to keep breathing and they'll get through it. coming up on "cbs mornings," we'll speak with elon musk's mother, maye, about making history on the discover of -- the cover of "sports illustrated's" famous swimsuit issue. i'm anne-marie green. this is the "cbs morning news."

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our top stories this morning -- president biden is tale steps to help with the nationwide shortage of baby formula. he is speeding up production and authorized the pentagon to use commercial planes to fly in formula from overseas producers. and the department of homeland security is warning of an increased threat of extremist violence after the leak of a draft supreme court opinion striking down the constitutional right to an abortion. it says that violence could come from either side of the issue or from other types of extremists seeking to exploit tensions. the justice department announced the supreme court justices are now under 24-hour security. well, it is a big week for our parent company paramount

global. the new fall lineup was revealed and dana tyler has details fro the blue carpet in new york city. >> reporter: "fire country" based on the inmate firefighter program is one of three dramas debuting this fall. >> can i call my lawyer? >> sure. you have phone privileges in a week. >> reporter: max thieriot is the star and producer. >> i think everybody realized, wait a second, we can get firefighters and prisoners in the same show fighting fire together and it's real? i think it gives you so much stuff to explore. >> mom, i know who witnessed -- >> reporter: skyler astin co-stars with academy award winner maria gay harden in "so help me todd." it's about a lawyer who hires her aimless son as her law firm's investigator. >> for those of you who don't know, my name is regina haywood -- >> reporter: and the gritty police drama "east new york" stars amanda warren as the newly promoted boss of a brooklyn precinct.

>> we are here to tell the truth and really tap into the human condition. >> reporter: joining the wednesday night all-reality lineup is a new romance/adventure/competition series inspired by "the love boat" called "the real love boat." multiple "star trek" commanders walked the blue carpet in support of the streaming series including is "star trek discovery's" star. >> to have that seat, to have that position in the franchise and the legacy, it means a lot. >> reporter: and mickey guyton joins leann rimes for the next installment of "cmt crossroads." >> i'm such a huge fan and being here is a dream come true. >> always more fun with this one around. >> reporter: there's also paramount plus' sci-fi series "halo" based on the popular video game. it's generating a lot of buzz for the streaming service. dana tyler, cbs news, new york. coming up on "cbs mornings,"

nearly two years after broadway star nick cordero died from covid complications, we'll talk with his widow, amando kloots, about life, loss, and moving forward. plus, we're going to meet the artist whose colorful murals are brightening up new york's busiest subway station. and we'll speak with elon musk's mother, maye, about making history on the "sports illustrated" famous swimsuit issue. it's is the "cbs morning news" for this thursday. thanks for watching. i'm anne-marie green. have a great day. ♪