>> now in just a moment we'll have a round up of the global headlines. let me point you to our excellent website www.aljazeera.com. for all the headlines and the background. www.aljazeera.com. >> the dow climbs back after following a thousand points at the opening bell. [applause] >> receiving france' top honor, four people including three americans praised for stopping a gunman on a train. and ten years after hurricane katrina, we talk with a lieutenant general who was charged with fixing other people's mistakes.

>> this is al jazeera america live from new york city. i'm randall pinkston. investors seem to be catching their breath this hour. reversing earlier huge losses on u.s. stock exchanges. the dow right now is down 177 points. a big change from the open where the dow fell more than a thousand points. it was in response in part to the sell off in china. oil prices plummeting, too, they're now at a six-year low. ali velshi joins us to try to put son context and perspective on this whole thing. down more than a thousand points. now down 150--normally we would not be talking about a dow that is down 1%. there have been a string of down days, that would make us want to talk about this, but when the market opened it opened in such velocity. now as you said it was in response to what happened overnight in shanghai and asian

markets. in america the dow closed down more than 500 points. i could tell that it was closing with such velocity and heading down that it was only the closing bell that would stop that fall. we've never seen a real 1,000 point drop on the dow. we saw that flash crash a few years ago, but it was technical and over within a few minutes. this was dramatic. now it's very clear from looking at this thing where the dow is down less than a percent right now that some investors and some smart money in there saying this is over and done. for context, this market has not had a correction, which is a 10% pull back in, well, since it started it's run march 9, 2009. market hit a new high in may of this year. so it's been going for a long time, and there are people looking for an excuse to sell their stocks, china, a confused international economy, these oil prices below $40 gave people an

excuse. >> but still not that 10% correction. >> no, as of friday night we were down 5.8%. and today would have added another 6% if you would have taken what we did in the morning but now we're down a percent. we're not at correction level. some say there is more to come. others say clearly the behavior that is showing today is that they went in and bought stocks. >> oil prices are as low as they've been in six years. >> it was 38 and change, it was going between $38 and $40. this is a problem. for low income people around the world, we spend so much time talking about income and equality, energy prices are fantastic, they're really good. but there is a point beyond where it crosses there are many governments in the world that depend on revenues through taxation or through direct selling of oil and companies that employ people. so since the recession in the united states the most consistent employer has been the energy sector at some point the tradeoff is that gas is a cheap.

your home heating oil is cheap, but you people are worried about oil with a 3 in front of it. >> thank you, ali velshi. we'll continue to watch this throughout the day. let's go to mary snow, who is at the stock exchange. what is the mood there right now? >> much different, randall. you know, you wouldn't really say this on an ordinary day, but when the market was only down 400 or 500 points earlier today, there was a sigh of relief. now as you mentioned there is down 152 points. there is a sense by some that there is a severe overreaction and stunning turn around since this morning. stephen is the managing director of deep value. stephen, what happened? there was so much fear this morning? >> there was so much momentum coming out of asia and europe this morning that we saw an overreaction here in the united

states. a lot of traders did step in, and there was a severe dip. our indices are down by less than a percent this afternoon. >> you're a veteran trader. you've been here since the early 1980s, how does this day compare with some of the crashes you've seen and steep drops you've seen. >> yes, in terms of points. we saw a very steep drop. but in terms of% it wasn't close. but in terms of the way it felt it wasn't close. 1987 was a 23% drop. this was a 5% drop 24 morning. i mean, we've taken back most of that already. we never had--we did have something of a penetration, but we didn't have that sick feeling in our guts as we've had in other drops. >> you call it a controlled fear. >> a controlled fear, a cautionary move. it was not the same type of nervousness that i've felt in the past. >> everybody is saying what can we expect? not that you can predict what the market will do, but over the next few weeks or so what can

people expect? >> i think you're going to have an extended period of volatility. we don't know what the chinese economy is doing, how it's growing. how we priced that economy that demand into what u.s. cooperations do. it's going to be difficult for a while, and we don't know what our own fed and other central banks are going to do in light of the way marks are moving. it's different now. >> in terms of the u.s. economy, u.s. companies, how much of a slow down is being talked about or anticipated? >> well, certainly, we have a slow down with the international corporations. maybe not so much with the small caps. maybe that's where you can hide out. they seem to be performing better because there is less exposure. >> that is a sigh of relief today, you said you wouldn't be surprised if the market ends up on an up note. >> we'll get a surge one way or another before the day is over. upper would be nice. >> yes, everybody is hoping for that. stephen, thank you so much for joining us. randall, certainly, such a

volatile day and heavy volume. >> up would be nice. thank you, mary snow. well, the sell off began in asia where stocks plunged, and index dropped 8 7-eleve 8.5% overnight. the biggest drop. >> at one point the index fell by 9% recovering only slightly. some of china's biggest companies, which means some of the biggest are listed here. on monday the government announced a new and risky intervention to try and prop up the market, by using billions of dollars from the state pension fund. but it failed to stop the slide. >> how can the market drop every day like this? one, two, three, four, five? the market dropped for five days. and it never rose back. >> many borrowed to buy shares, and are now being forced to sell those shares to pay back the

loans. >> the chinese market aims to eliminate the middle class. after eliminating the middle class the middle class will have no purchasing power. and the market won't be flourishing. >> worse still the value of their pensions could be at risk if the market declines continue. >> i think that the government can solve this problem properly. they want all the pension money on the stock market. >> the government is reassuring investors, but everything it has tried to rescue the market has failed. since june the shanghai index has lost 30% of its value, and analysts warn that the decline is likely to continue. once more the drop in chinese shares drag down parks across the asia pacific region. the main reason, a fear of the slow down in china's economy is worse than the government is leading on.

the regions biggest stock market tokyo ended the day five points lower as well. south korea closed down by 2%. it's sixth consecutive loss. and australia suffered its biggest one-day fall in four years down by more than 4%. what all these markets desperately need but don't have are investor converse. adrian brown, al jazeera. beijing. >> and be sure to stay with al jazeera america as we track this volatile day in the stock markestock markets. france honored three americans and a britain for acting to prevent an attack on a high speed train. president obama françois hollande pinned medals on three americans and a british man. the legion of medal is the

country's highest honor. the four men tackled a gunman friday who open fired on a train travelin traveling from amsterdam to paris. the attacker was heavily armed with weapons and ammunition. >> we're here to honor four people, four men who made it possible, thanks to their courage to save lives and show what can be done in dramatic circumstances. >> we have more on about what the men say about how it all unfolded. >> when most of us would runaway, spencer, alec, and anthony ran into the line of fire. >> ambassador jane hartley brimming with praise for three young americans who stopped an armed to the teeth gunman on a high speed train between amsterdam and paris on friday. airman first class spencer stone and his boyhood best friend al alec, just back from afghanistan, were being lauded

two another friend and two other passengers, one british and one french. they noticed the gunman trying to fire the ak-47 in their train car. >> we tackled them. hit the ground. alec grabbed the gun out of his hand. i put him in a chokehold. he just kept pulling more weapons left and right, hold out a handgun. alec took that, he took out a box-cutter and started jabbing at me with that. >> french authorities say that the gunman was on the radar in three countries for having ties to radical islam and for having traveled to syria. his legal teams said that he's just a homeless man who found the weapons in a bag. >> he said he planned to hold up the train, then shoot out a window and jump out to escape. >> that's unlikely say the three american heroes, who saw the cache of weapons up close. >> to the point that he was just trying to rob the train, it

doesn't take eight magazines to rob a train. >> but they admit it was fortunate that the shooter seemed unsure how to handle the weapons. >> he clearly had no firearms training whatsoever, and yes, if he knew what he was doing or even just got lucky and did the right thing he would have--he would have been able to operate through all eight of those magazines, and we all would have been in trouble. >> it's possible that no american has had quite this welcome in paris since the end of world war ii. john terrett, al jazeera. >> the british embassy in iran reopened today, and philipp hammond said that the u.k. could start lifting sanctions on the country as early as the spring of next year. the embassy in tehran was closed four years ago after it was stormed by protesters demonstrating against economic sanctions. hammond said this was an opportunity to work on common concerns.

>> we'll work together to deal with the scourge of terrorism, promote regional stability, tackle the spread of isil in syria and iraq, and to counter narcotics, and to deal with challenges of irreal migration. the important thing is that we now have a channel to talk to each other, and we will be talking about all the issues whether we agree with each other or not. >> meanwhile, iran's foreign minister said that it is still too early to reopen the american embassy in tehran. they said that the u.s. first needs to change its attitude towards iran before that happe happens. raging wildfires in the pacific northwest is begin to go clear, but much of the area is still under air pollution advisories once the smoke lifts the humidity is expected to drop. authorities say that means a rise in temperature tears cause fires to flare-up.

the fast moving fires force many to leave their homes. >> i called my kids. one of my girls and said that we can't--we don't think we're going to get out, and we love them and to tell everybody that we love them. >> fire officials say that less smoke means air travel restrictions will be lifted, and more fire tankers can drop water on the areas that need it most. improving weather conditions in california are helping firefighters battle back in front of the planes, but many of the areas in the north's rough fire have been told to be ready to evacuate. the fire has spread to 200 acres in just two hours. we have report from kings canyon in national park. >> what is unique about this particular fire? >> the deep topography and terrain. this is one of the roughest

country in the united states. >> of course you want to make sure that it does not jump over this road. what would happen if it got to the other side? >> on the other side of the road is more unton takenned line, further fuel, that would add more problems along the way. these cruise are work to keep it inside those lines. one of the things that we're trying to do is eliminate the vegetation and at fuel, and by lighting backfires we're able to control it a little bit more, do it under our terms instead of natures or others. >> the fire has been raging since the lightening strike ignited the terrain last month. more than 47,000 acres has already burned. most of the fire is in the backcountry inaccessible to firefighters on foot. choppers have been collecting water from a large lake here and dropping it as fast as possible and returning for more. thick smoke in the morning is preventing the choppers from going up until late afternoon. ten teles are being used on this fire.

and here you can see what they're trying to prevent. the king's canyon lodge is the only structure so far that has been destroyed by the fire. it was built in 1928 and tourists have been coming here for decades. it was filled with antiques that are now all gone. the owner is amazed that the historic gas pumps survived. this area was evacuated before the fire got here. >> lisa reporting. >> officials in macedonia are allowing refugees to cross into the country from greece today. over the weekend police used stun grenades to try to stop them from entering. jonathan hull has more from the

greek side of the border. >> here on the greek side of the border it is busy but for the moment there is a system in place, and the system seems to be working. new arrival coming here all the time. at this point they're able to access basic aid, food, water, medical attention if they need it. sit on the ground under shelter and have a rest before continuing their journey. on this side you can see on the railway tracks a group of people waiting, macedonian police in front of them, razor water across the borderline over there, and the macedonian police allowing people through in groups of a couple of hundred perhaps once an hour to continue their journey a few hundred meters to the railway station. this is an absolutely unrelenting flow of people. to give you an idea of what is happening in the south of the country a few hundred kilometers away from here on the islands of the aegean, the number is growing by a thousand people every single day.

there is a passenger ferry with the capacity of 20,500 making trips to athens every day, and those people arriving here within hours of being dropped off. an unending flow of people making their way through greece through into macedonia and on wards to serbia. >> jonah hull on the greek-macedonia border. new fall out on the hack of ashley madison, the cheating website. a new class action lawsuit worth up to $500 million.

>> louisiana state trooper died after he was shot in the head during a traffic stop. senior trooper stephen vincent stopped to check a car that looked stuck in a ditch. >> we certainly understand the danger that faces us every day, and we never know when it is our time. tragically these things happen far too often around our country. our thoughts and prayers will continue to be with stephen and his family. death truly ends a life, but it does not end a relationship. >> the police say that passersby stepped in to hold the suspect until police arrived. they plan to file murder charges against him.

>> the adultery website ashley madison is now target of a lawsuit in canada where the company is based. the class action lawsuit seeks up to $500,000 after information about ashley madison users was leaked. >> life is short. have an affair. >> two canadian law firms filed the $578 million class action lawsuit against ashley madison for failing to protect user's private information. last month a missouri woman filed a has action suit claiming she said $19 to have her data wiped off the servers only to find out that didn't happen. the hackers who struck ashley madison in july said that the site was pull full of high profiles and the company is being sued for date that a that was never truly deleted.

the hackers have been dumping huge amounts of data revealing high profile names who had accounts on the sight including some who had to publicly explain themselves. >> well, no laws have been broken, these were incredibly stupid choices. >> over the weekend florida state attorney jeff ashton admitted using the site but never meeting anyone on it. the husband and father said that he used a personal computer and laptop to access it. >> there is a report that falsely implied that i use government equipment to connect to the site. i did not. i ask for the public's forgiveness for my shortcomings, but those choices have had no impact on the performance of my official duties. >> the associated press traced hundreds of government employees to the website, including some with jobs at the white house, congress and department of homeland security. many are believed to have used

government computers to access this site. ashton carter said that they're investigating accounts of military e-mail addresses. >> conduct is very important. >> adultery is a criminal fence under military law and government employ employees are barred from using government equipment to access personal sites. >> there is award money for information leading to the hackers responsible for the leak. hurricane katrina slammed louisiana but it was the poor government response that captu captured international attention. we'll hear from the man who helped to turn things around.

>> this week marks ten years since hurricane katrina slammed into the gulf coast. we're looking back at the storm and the much-criticized government response. >> put the weapons down. >> with those words, the general charged for leading the military

response became the voice of reason, the answer to nuclear's collective call to help. ten years after katrina we went back to that spot. >> people were pointing guns. >> looking back on the hurricane honore speaks about the vulnerabilities laid bare by the disaster. he called it the disaster before the disaster. >> new orleans had the largest concentration of poor people in the shout. >> the student achievement trying to close those opportunity gaps. >> i will be ready, willing, and able. >> he thinks students higher education opportunities that they are otherwise not academically eligible for. he has formed a new army, a

green army. all of this has led to a very obvious question. >> do you have political aspirations? >> no. and i just made an announcement that i would not run for government after some speculation. but my idea to contribute is to help people solve problems in their community through civil engagement. >> you can hear more from stephanie's conversation with general honore at 8:00 eastern. brazil and germany have acquired an observatory. it is the tallest observation tower in latin america. will study the effects of climate change on the amazon jungle. that's it for us. thank you for joining me, randall pinkston. for the latest, you can go to our website www.aljazeera.com.

>> as the demonstrations continue, tempers flare, a deal between north and south korea, expected soon. hello david foster, you're watching al jazeera. 7,000 refugees leaving macedonia and continuing their search for a new life in europe. tumbling commodity prices and slow down, drop in chinese