as part of "the real story." shepard smith starts now. >> it's 2:00 p.m. in oxford, mississippi, where we are watching developments in the search for the missing pal should airlines jet. you'll hear from a pilot who just spent hours scouring the ocean, and we'll hear from a journalist in perth, australia, and we'll tell you about help that's on the way, even as another storm system rolls into the region. today we learned the cost of the search. how much the u.s. government has spent and how much more officials say they're willing to pay. also, even if the debris that satellites shotted were from the missing jet, what are the chances it's still floating? we'll tackle that and how the malaysians are discussing how batteries on the jet could have ignited a fire.

>> most inaccessible spot you can imagine on the face of the earth. if there's anything down there, we'll find it: >> that promise from the australian prime minister as teams search a remote section of the indian ocean, looking for what could about two pieces of debris from the jet. now two weeks after it went missing australian officials say more planes and ships are set to join in the search. the pilots who went out today, say they turned up nothing. >> it's certainly disappointing, and i've got every confidence that we will find any object and everytime we launch we hold that hope. however, we're just going to keep going until we find it. >> here's another look at the two objects. one is about 79 feet long. the other about 16 feet. those officials say a u.s. satellite spotted the objects floating 600 miles -- -- .

>> something on the sea that long ago may no longer be floating. it may he sunk to the bottom. it's also certain that any debris or other material would have moved a significant distance over that time. >> also today, officials in malaysia said lithium ion batteries in the plane's cargo hold did not pose a threat because of their past packaging. victors say in rare cases the batteries can overheat and burst into flames. >> analysts say if the plane did crash. it's so-called black boxes would stop sending out signals at minimum a couple weeks from now. could be longer, buts they say at minimum they last a month. forecasters also say more bad weather this weekend could make it tougher to search for the possible debris, and remember, throughout all of this, relatives of the 239 people on

the jet are waiting for answer, hoping that somehow their loved ones are still alive. jennifer griffin is live at the pentagon. what do we know about the ships and planes joining in the search. >> one of the key u.s. military surveillance assets will not be flying tomorrow. it's the u.s. navy's p8 poseidon. it needs 24 hours of route maintenance and rest pilots. the p8 returned empty handed today. the commander from the seven fleet telling us the p8 can see objects as small as a basketball. other assets involved two chinese aircraft who will join the search on saturday, according to australian officials, two japanese p3 orion surveillance planes expected sunday, and a small flotilla of ships from china are still several days away from australia. the norwegians are using searchlights after dark to then the malaysian defense minister

asked american defense secretary chuck hagel for refueling planes and they don't need that because the p8 cannot be refueled in mid-air. that was this morning. >> it's my understanding this operation, as important as it is, is getting mighty expensive. >> the search has cost the pentagon $2.5 million so far. those surveillance planes would have been flying anyway, according to this commander with the seventh fleet. >> you have a continuous 24-hour operation across 48 million square miles of seventh fleet here in the indo-asia pacific. so regardless of what their mission is and where they're flying, they would probably be flying anyway. on a different mission. >> the pentagon confirmed to us that it has only budgeted $4 million for the mission, not clear what happens when that budget runs out. in addition to refueling planes, the malaysians asked hagel to send microphones that work

underwater, a form of passive sonar. five surveillance aircraft will continue their search at dawn, shep. >> shepard: jennifer griffin at the pentagon. >> daniel stacy joins us right now, from the headquarters of the search operation in australia. what's been happening there, daniel? >> well, shep, it's been a number of vessels, even civilian vessels which are scrambling to join the search. today i was down at the docks seeing a chinese icebreaker that normally used to do research in ant arctic could, and it was rapidly restocking and heading back out to sea to get to the search area. >> you flew back to perth. what is the experience been overall? how is morale with all this? >> i think that it's really a ticking clock, and that people are really rushing to go out there and see what they can

discover. particularly with the black box and the time limit on the batteries for that. they really need to locate this debris as quickly as possible to have the best chance of finding anything out about this mystery. >> daniel, i know they've been back over these satellite images over and over again. i wonder if there's anymore degree of certainty what they may be? is there still a high possibility this is wreckage from the plane? >> i spoke to some satellite experts yesterday, and i think that people who have looked very closely at the images say they are credible. the larger piece of debris is much larger than a shipping container, and i think that offer some hope this may be part of the fuselage of the plane, but at this stage they are very indistinct. the highest pixel ratio of those satellite ratios is 50 sent meters, so at that resolution we can't really see things like

windows or any other details that would confirm this is a plane. >> we just lost shepard smith on the satellite coverage. it's been take something hits in oxford, mississippi. daniel, thank you very much. while we wait for word on this jet, obviously the passengers' families are in limbo right now. when we come back we'll take you to texas, hear from the brother of one man who was onboard the jetliner, and hopefully be back to shep, "shepard smith reporting" continues in just a moment. live from oxford, mississippi. stick around. ♪

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[bell rings] this...is jane. her long day on set starts with shoulder pain... ...and a choice take 6 tylenol in a day which is 2 aleve for... ...all day relief. hmm. [bell ring] "roll sound!" "action!" welcome back. we'll get back to shep live in oxford, mississippi, in just a moment. in the meantime, the search continues. the missing malaysian airlines plane. the family of the passengers and crew still have no answers about what may have happened to their loved ones. among those missing, three americans, including phillip wood who was headed to beijing where he moved for work a few years ago. his girlfriend told abc news, quote, i'm prepared to find him and i'm prepared to find he is not with us anymore. but the risk of not knowing frightens me the most. officials say, two other americans onboard the flight, four-year-old and a two-year-old, though, we don't

know much about them, casey siegel is live with more. casey, you spoke to some of phillip wood's family members. >> to say this last two weeks has been difficult may just be an understatement. most of his closest family does live here in a suburb of dallas. his father has told journalists he believes his son is in fact still alive and they are certainly not giving up hope. phillip's brothers describe the 50-year-old ibm employee as a guy who had a zest for life and was excited about soon moving in with his girlfriend in call call kuala lumpur. >> actually in a recent e-mail said, every day is a gift, and that's really how he lived. he approached it. >> the wood family says they have been glued to television reports following every single twist and turn in this very

bizarre story and mystery, greg. >> another woman onboard, apparently had connections to pennsylvania. what do we know about her? >> that's exactly right. she was a malaysian national who had been relocated to work here in the united states sometime between 2010 and 2011. her name is may ling ching ask she worked for eastman chemical in a suburb of pittsburgh. shed a just recently bought a home here in a suburb of pittsburgh. eerily her neighbors say she accidentally left her lights on, like you can see from the video, before she took off for the trip. a company spokesperson releasing this statement: all of us at eastman are deeply shocked and saddened and our thoughts and prayers go out to all of the families of those on the flight, and especially to the family of our friend and our coworker.

so just about two weeks now into this full disappearance, and, greg, these poor family members just want some sort of closure, as you can imagine. this has just been horrific for them over the last 14 days or so following all of the ups and downs, the new theories that have been introduced, first they thought it crashed, then they thought perhaps this notion it was hijacked and maybe landed safely somewhere. so, these people just want some answers so they can begin the grieving process. it's in the unknown that makes it so difficult. >> we mentioned phillip wood. obviously his family and brother are very concerned. if you look at the social networking sites there are questions a great many people have about the other two americans onboard, as we mentioned, four-year-old and a two-year-old. clearly they would not have been unescorted onboard the plane. a lot of people are wondering what exactly do we know, if

anything, at all about them and give their age we're sensitive to center their family's privacy. any idea about that? >> we're trying to work on that with our contact at the state department. as you mentioned they are extremely young, two years old and four years old. they had american passports but they have chinese names, so there is some thought, some speculation, that they were born in the united states, parents of chinese nationals, and that's really all we know at this point. we're trying to track information down in terms of who exactly they were traveling with, if they were traveling with their parents or perhaps with an aunt or uncle, something of that nature. we just know from the state department that it was three americans, phillip wood and two young children, but about the two children, details still very sketchy weeks out. >> casey, we'll check back with you, and we're going to get back to shepard myth in just a moment -- shepard smith in just a moment, reporting live from

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18 minutes past the hour now. continuing coverage of the search for the missing malaysia airlines jet just ahead. first the crisis in ukraine. vladimir putin signed the bell bill that makes crimea officially part of russia. he called it a remarkable event. then ordered fireworks to celebrate in crimea and moscow.

but british prime minister david cameron says the crimean people voted for annexation, quote, at the barrel of a gun. on theft side is how things before were the annexation. now it's part of russia. ukraine signed its own deal with the european union, and the same agreement that the former president rejected last year triggering the protests that forced him out of the country. the eu announced new punishments against the prime minister and others in putin'sstill,les. american penalties are making a difference. the moscow stock market fell three percent in the first minute of trading. fitch is joining standard & poors warning it may downgrade the credit rating. it's two notches before what is considered junk status. visa andmast of mastercards are

not working with the russian banks. ed henry at the white house. president putin moving forward disspeed sanctions. >> most worrisome for the u.s. and allies is the fact that president putin has 20,000 russian troops along the border with ukraine. confusion about their intentions. russian officials have told u.s. officials in phone calls they're just going through a military training exercise, but when you have vladimir putin out there se bill, making it facial, the annexation of crimearch it makes you wonder what he is up to. here's president putin earlier today. >> translator: i want to congratulate you, all the people of the country, people of crimea, and sevastopol. this is a mow men to us -- momentous event. >> the president continues hear in the united states to have

critics saying he is not being tough enough with putin. the was an event here today at the think tank, the center for strategic and international studies. their key russian scholar had this so say: barack obama is making jimmy carter look like atill la the hundred. that in advance of the president's trip to europe next week to meet with european leaders about the situation in ukraine. their pushback is that the president with the sanctions is making it hurt for vladimir putin right now and that is tough. >> he is pretty well isolated. >> they believe at the white house -- we just heard from susan rice, national security adviser, previewing the president's trip to europe next week, and she was basically saying, look, he is losing prestige on the world stage, vladimir putin is, and noted the russian economy has been taking a hit. but susan rice was candid when pressed on these russian troop

movements and whatnot, that the u.s. is still not completely clear on what the next move from russia will be. listen. >> not clear what that signals. the russians have stated they are intend egg military -- intending military exercises. given their past practices and the gaps between what they said and have done, we're watching it with skepticism. >> among the president's meetings in europe next week, he'll be meeting with the g7, basically kicking russia out. key seven leaders, u.s., france, uk, et cetera to talk mostly about the situation in ukraine and figure out what the next steps are. >> all right, ed. a lot of work to do. let's turn to our newsroom in washington and fox news sunday anchor chris wallace who is live. where are we in this, chris? >> well, it's a good question and we don't really know. obviously putin has crimea, and the u.s. has imposed some sanctions, and is thenning to go

after at this point so far it's been going against putin's inner circle. now they're threatening, next step, to take vigorous steps against the entire russian economy, the energy sector, mining, financial services and even the steps they've taken already have had an impact on the russian economy. the stock market, the ruble. so it's up to putin. does he want to go into eastern ukraine? militarily we can't stop him but then you would see tough sanctions not against the inner circle but against the broad russian economy. >> are there concerns if that happens that war can break out here? that they ukrainians might attempt to retaliate and this could spread? >> there certainly would be ukrainians who would try to resist russian invaders. they just don't have the fire power, the army or national guard. it would be more of a guerrilla

warfare rather than trained russian troops. the real possibility of a war that involves the west directly would be if putin moved against one of the nato states, particularly the baltic states. nato treaty is a an aggression against one state is aggression against all of them, and by the terms of the treaty, the west would be duty-bound to defend the baltics against russia. who knows if that will happen. one would think not but i don't suspect a month ago we would have thought it would have gotten this far. >> in talking to our friends at the fox business network, there are suggestions that if these sanctions continue to ratchet up, one side and then the other, there's a risk to parts of the european economy and on some level the global economy. >> well, absolutely. in fact president obama said that yesterday, that you could end up, if they go after the economy, the broad russian economy, that it could cause a global recession, i suppose,

eventually. but having said all of that, russia depends a lot more and in fact the british prime minister, david cameron, said this today. he said they depend a lot more on the west than the west depends on russia. so even if russia were to cut off some of its energy funding, some of its trade with the west, it would be a much bigger hit on the russian economy than the economy of the european union, and particularly much less than the united states. >> seems on point. chris, congratulations to your harvard friends. what a win. >> well, one down, five to go. >> got a few. the rebels are off to baseball season now. we're playing missouri. you should come on down. >> okay. hodyed toddy. hugh about the mercer bears. did you see duke go down? >> i did. it blew up new bracket but it's

march madness and fun to see a little school beat a big school. >> the series played 113 games together to take down the freshman and sophomore superstars. more to come for duke but it was a great game. good to see you. thanks and we'll look for you on fox news sunday here on fox 13 in oxford on this sunday. he'll have the latest on the missing malaysian airlines plane with. that's this sunday on fox news sunday. check your local listings on your local fox station. coming up here we talk to a former air force pilot, and a look back at the entire mystery and how we got here, from takeoff until today. [ male announcer ] this is joe woods' first day of work.

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along the jersey shore. some people staying there were victims of superstorm sandy. no word yet on what caused the fire. officials in afghanistan are blaming security guards for a shooting that killed nine people, including two little children. happened yesterday at the luxury hotel in the capital of kabul. a government spokesman says the attackers hid small pistols and ammunition in their socks and shoes. >> officials in turkey now blocked access to twitter after folks posted links to recordings which analysts say could implicate the turkish prime minister in a huge corruption scandal. the prime minister says the recordings are fake. this has been going on for a long time with twitter playing a beg role in protests last year. copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment

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>> continuing coverage now of the missing malaysia airlines jet. the britain's up in, "the daily telegraph" is reporting it has

obtained the full communication report and the recording from the flight, from the moments before the takeoff to the last contact with one of the two pilots. the newspaper claims for the most part the wanter was -- banter was routine except for who things a message the cockpit repeated about the plane's altitude, and the second, the final voice communication from the cockpit saying, all right, good night. after the jet's computer reportedly sent information about the plane's course change. as for the ongoing search we reported the pilots who went out today over remote section of the southern indian ocean came back empty-handed, and search teams are man something of the most high-tech planes out there the australian air force is using special air craft to drop data marker buoys. experts say if the search teams find pieces of the plane that doesn't mean they'll ever find the black boxes.

the head of france's top airline told the financial times newspaper, that will be the most difficult part of the search. finding the black boxes. that bureau helped investigate the 2009 air france crash. it took crews on the mission two years to recover that plane's black box. they found it after nine months. took forever to get it up and they had a much smaller search area. dan hampton joining us, a retired air force pilot. dan, the size of this thing is an enormous problem and there's so much stuff in that ocean. i really wasn't aware of that until now. >> yeah, that's true, i'm a sailor myself and there's lots of bits of floating sea junk so without confirmation the wreckage is from the plane, it could be anything. add it to also the flight data recorder, the pinging capability of it, is negated if you get down below 14,000 feet.

and there are parts of that part of the ocean that they're in that are up to 24,000 feet or even deeper, and again, this all opinions to deliberation for my point of view. somebody knew exactly where to put this airplane where it would not be found quickly. >> i still can't come up with a reason why someone would do that? why? >> that's what is going to come next. i'd say -- i caution everybody again that this is all still preliminary. we have the best navies out there in the world working on this, which is good. but november hag been confirmed. once it's been confirmed, then there are ways to get down there and find out what we can actually find. why, then, it what happens next and we can talk about that when we have more time. >> dan, you mentioned the two pieces they are focusing on from the satellite images, from the colorado-based company that got these images and there they are. you have said it's suspicious to

you that these two images are floating so close together. >> well, you know, it could be they're attached under the water. obviously if they're still together after floating around out there for days and days, then there's something down there that we can't see or hasn't been revealed yet, and it could be in fact part of the airplane. mostly my suspicion is that this is -- if it is part of the wreck, it's part of the wing. the wing would break off first, the heavier fuselage would serve immediately. the wing is lighter and is about that size. so it could be that. >> dan, you want to search until you reach some degree of certainty you're not going to fine anything. i wonder if there's a calculation that's been made about when we reach a point of diminishing returns. >> with all the press surrounding this one i'm not sure we'll ever reach that point. what i am certain of is that there will be a point fairly

fast, if it's not found, it will be beyond the capabilities of the commercial authorities and the military, meaning the royal australian navy, new zealand navy and the u.s. nave, will have to get in there with the equipment they have and they can get down there and find this if it's findable, and they will. i have confidence. >> dan hampton, retired united states air force pilot. author of the book "viper pilot." good to see you. >> thanks, shep. you look more awake since the last time. >> it's been two weeks since the malaysian jetline ervanished. since then we learn more about the final actions. jonathan hunt is live with a timeline of flight 370. show us. >> we should caution from in the outset that many of the so-called facts have changed day-by-day, and the malaysian government has changed many of its statements over the past two

weeks, but cross-referencing our best sources and the most reliable information we can find, this is what we can tell you now. >> 12:41:00 a.m., saturday, march 8th in malaysia. flight mh30 takes off smoothly. 26 munches later the aircraft report are system sends information. everything normal. at 1:19 a.m., someone in the cockpit said, all right, good night, as 3 0 leaves mall schapp air space and inter vietnam. then the transponder shuts down, make it the airplane invisible. and then military radar see the plane on a new course, having made a distinct left turn, and just over 45 minutes later at 2:15 a.m. an unidentified plane shows up for a final time on military radar. six hours after that, at

8:11:00 a.m. a satellite picks up the last known signal from flight 370. within hours malaysian authorities confirm the plane is missing. a vietnamese plane spots an oil slick but it's not from a plane debris is also spotted. unrelated as it turns out. then the theory, two iranians onboard using stolen parts. turns out they're just two iranians trying to find new lives in europe. terrorism, mechanical failure, pilot suicide all are mentioned and by march 14th the focus is on the pilots. two days later, malaysian officials declare the mystery of flight 370 a criminal matter. and begin examining a flight simulator the captain built at his home. on monday, u.s. officials confirm the change in direction would have to have been done through a computer system in the cockpit by someone with extensive knowledge of flight systems, and by tuesday, two possible flight arcs have been

identified. one north, one south, a search area of more than two million square miles. then on wednesday, after distraught and frustrated relatives of the missing passengers are pulled from a news conference malaysian officials confirm flight 370 may have flown for seven to eight hours effectively invisible and they reveal several files were recently deleted from the captain's home flight simulator. and late wednesday night in the u.s., late morning thursday on the other side of the world, the australian prime minister announces would objects have been spotted in the indian ocean that could possibly relate to the missing malaysia airlines plane. but as of yet, no luck in that search in the far southern reaches of the indian ocean, and, therefore, no letup in the anguish for the relatives of all 239 people who are onboard

flight 370. shep? >> tough to bear. >> the federal aviation administration reports it's taking steps to prevent cyberattacks on the 777. sources as boeing say they don't think hackers attacked the missing plane because its systems are older, but faa officials say they're trying to fix a security loophole that could let passengers access critical flight data through cabin computers. well, if the objects in -- now in the frame mouse satellite photos are in fact part of the missing jet, and the debris is still floating, how will searchers be able to find it? especially considering the satellite pictures are so many days old and the objects could have drifted hundreds of miles. >> some answer a "shepard smith reporting" continues live from oxford, mississippi, right after this. ...and a choice. take 4 advil in a day which is 2 aleve...

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more now on the search for the two pieces of what may be

debris from the missing malaysia airlines flight. representatives for a british satellite company say as early as two days after that airline flight went missing, they had indications it may have crashed in the southern indian ocean. two days in. remember, search teams didn't begin focusing on the area until earlier this week when a satellite located those two pieces of what they say may be debris. analysts say this means officials have wasted critical time looking for the plane in other areas. we mentioned earlier that satellites spotted the possible debris on sunday and officials say by now it could have drifted or sunk to the bottom of the ocean. ken is the president of an aviation consulting firm and a former air force search and rescue pilot, not to mention a former nasa analyst. ken, nice to see you. >> good to see you, shep. >> ken, you said that electronic searching might be of a big help here. explain how that works. >> well, the plane can do an

electronic area search first. if it is inclement weather, low cloud ceilings, not able to look at the surface visually, they can do an electronic search. sometimes when you are looking for wreckage if you don't have a pinpoint location your primary search we be a broad area radar search. a plane can fly faster, they have electronic gear, radar that can hone in or certainly detect metal matter in the -- met tallic objects in the water, and you can quickly do that search, and then when you do a visual search you want to get down low, much more and that is methodical. >> can you mention that after looking at these satellite photos, you had some thoughts about what you think that this debris might be. >> yes. on one aspect, what you're

looking for with satellite imagery, you don't have a sharp right angle and that looked like a sharp right ang until the debris. but you really need to look at all the swing surfaces on the 777. you have the two wings each side, the vertical stabilizer and the horizontal stabilizer. i've been hearing the plane is 60 feet tall but the vertical stab is not 60 feet tall. it's 60 feet off the ground, but where it meets the fuselage on the back of the plane it's 45 feet tall, and so just by -- if it's 24 meters, then that's clearly not the tail and would point towards a wing section. but the 80-foot nature of that, it still needs -- it would be comforting for me to know that is definitively not a container off a container ship.

>> from the very beginning there's been questions whether we were getting all the information, whether all the information was coming together to a central location, and it's my understanding you still have question about that. >> i do have questions because it's not definitive. it was convenient with the debris field was if the aircraft did go in that heading. also convenient that that's approximately the area that the aircraft would have run out of fuel because it was about the same distance as it would be to beijing, plus reserves. so, just where the aircraft went, and fuel starvation and went into the water. so that was convenient. but the debris today has not been yet found, and i don't know why that is. i'm sure there's a whole strategy and action plan for the search team. there's comment searchers at the scene. >> a lot of hope, ken, former air force search and rescue,

former nasa analyst, great talk to you. thank you. >> thank you, shep. >> continuing coverage of the missing jet coming up. first, a fox report withed the lips, the first lady, michelle obama, met the chinese president in beijing today. mrs. obama is traveling with her mother and daughters. sasha and malia. aides they the first lady plans to avoid politics during the visit and focus on education and cultural issue. one of the planes that served as air force one is getting a fresh coat of paint in ft. worth. officials say once the 747 passes inspection the flight test the president can start using it between. >> go outside and start smiling. that's what one scientist is saying after a study reviews humans can identify more than a trillion different odors. that's a big jump from the old estimate of 10,000. go outside and start smelling. researchers at rockefeller university tested volunteers with smells like garlic, mint,

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eight minutes before the hour. officials say the weather is still a major concern in the hunt for flight 370. search crews are battling rough seas, powerful currents and strong winds, not to mention its takes hours for pilots to get to the search area and that limits the crew's time to do the search. things seem clearer today but forecasters say that's not going to last long. our chief meteorologist is live on the fox news deck in new york. what's the weather going to be

like? >> they've got this little bit of a break where we have decent weather going on there and then that is all about to change. we'll see the next storms move in i'll show you the satellite image here. things have been pretty good. we had the first storm that moved in that brought trouble in the search before this one they just got done with. right now things are looking clear. that is the next storm moving in and gets here by tomorrow afternoon east coast time. that means we'll be dealing with this within 24 hours thinks start of the next storm there you go. we have the clear conditions, see the rain and the cloud cover. that whitest cloud cover. that's problematic for them as they're trying to get a visual cue on the water surface, and once the storm comes in we have another one on the tail of it. so looks like a three-day stormy period before a slight clearing and then the next storm comes on. we see that pattern in this part of the world. >> rick, talking to some people and reading a little bit, i'm

told the winds are ridiculous. why is that? >> this is a part of the world where things are very different than what we're used to in the northern hemisphere. this is a map that comes courtesy -- and gives you a very good congratulations where the winds are strongest. you can see them moving here as well. right there is where that debris was found. it's under high pressure right now but you can see another area of low pressure, another area, and those continue to rotate around here. this is very different down in the southern hemisphere. this is all water. if you show the northern hemisphere, when you go over land mass, just to ware those two images, look at this. things across land are much more calm. when storms are across the sea there's nothing to break up the pattern and we continue too see the wind and that is an ongoing thing you have across the southern indian ocean that will

be with us forever. >> all right, rick on the big wall on the fox news deck. thank you, rick. >> searchers are using advanced technology to look for the missing plane and also some low-tech tools. australian officials are telling "the wall street journal" that in good weather pilots fly the planes really low so that workers can scan the surface of the ocean with binoculars. when the weather is worse, crews switch back to radar. by now we've all seen pictures and video of the horrible smog in china, choking thick soot that can block out the sun. now it's so bad one company is selling insurance for tourists. but not for their health. that's next. [ male announcer ] evenore impressive than the research this man has at his disposal is how he puts it to work for his clients. morning. morning. thanks for meeting so early. co on in. [ male annncer ] it's how edward jones makes sense of investing.

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not if they get sick but literally can't see the sights because the pollution is so thick. one policy offers $8 a day in december the smog got so glad in shanghai it hit levels 4 times higher than the world health organization recommends as safe. >> and on this day in 1980, then-president jimmy carter announced the united states would boycott the summer olympics in moscow. that was a response to the soviet invasion of afghanistan. canada, west germany, and japan soon joined in the boycott. as you can imagine many athletes, coaches did not take well to the news. the games would go on without them. the soviet union would stay in afghanistan for nearly a decade. but the united states announced its first and only boycott of the olympics 34 years ago today. >> i'm shepard smith reporting

from oxford, mississippi. if you're around here gametime at 6:30 local. the rebels and mizzou come out and it will be a good time. neil is coming up. >> the rough translation, monumental event as vladimir putin officially takes control of crimea, but russian stack market tanking, as sanctions kick in, will it be money that sends putin packing? welcome everybody, i'm neil cavuto. vlad may be glad today that crimea is officially in russia reside's hands but does he have the winning spin or do we? russian stocks are down nearly