stock markets continue their wild ride this morning with u.s. stocks plunging more than 400 points in early trading. the roller coaster ride wiped out, almost wiped out all of yesterday's gains. good morning. i'm cheryl jennings. >> i'm kristen sze. the renewed slide comes even though the federal reserve announced it's keeping a key interest rate at record low levels until 2013. >> all right, now, the dow is below the 11,000 mark. inching closer and it's down 271 points. abc's scott goldman explains why investors are still worried. >> as this investors needed

a remind they're one day doesn't necessarily make a difference. stocks plunged more than 400 points in early trading. following yesterday's 429-point gain. even yesterday's good news followed a nerve-wracking ride. the dow spiralled south when federal reserve announced a plan to keep interest rate at record lows for another two years. then traders gave it some thought and the market snapped back toward the sky. >> something needs to be done to instill confidence, rather than just putting a stroke over it and saying it will be okay. it's not going to be okay. >> the fed seems to agree saying the economy is growing considerably slower than expected. the decision on interest rates rolled through the economy like a pinball. mixed news for credit card holders most of whom will now see steady rates but people who are considered credit risks might pay more because of the s&p credit downgrade. the slumping housing market isn't likely to get a boost because concerns over the slumping job market keep people from buying and the forecast isn't good.

in the last six months the economy has been growing at a rate of .8%. there has to be 2.5% growth to make a dent in the unemployment rate. >> we'll do the best we can whatever happens but it's a little scary. >> underneath it all is the fear we're heading to a double-dip recession. whether that or a weak and slow recovery from the last one. everyone seems to agree there is no obvious quick fix. scott goldberg, abc news, new york. >> a lot of people looking for jobs in the economy. abc7 and the job journal are cosponsoring a job fair where hundreds of jobs are up f grabs. karina rusk has more from san jose. what time does it begin? >> reporter: noon, kristen. the volatility in the stock market and the overall general concern about the economy is impacting the number of companies that are represented here at the hire

event. there are ten companies offering up 200 positions that they are looking to fill. they are using the job fair as a way to find the right employees. that is good news for job-seekers. on the down side, job fair coordinator says a number of companies pulled out including two unnamed firms who had previously committed to being here. >> we expected 50% more companies but due to the debacle in washington over the debt ceiling and also the stock market meltdown, a lot of employers frozen in their tracks. >> i'm looking for the engineer position, just like so i can work in san jose. >> yeah, larry lynn just got his electrical engineering masters degree from usc. he flew in for the job fair and he was here early. it starts in an hour.

if you want to take advantage of the event, hire event at san jose double tree hotel on gateway place from noon until 4:00 today. you can go to our website for a list of the companies represented. in addition to the firms and organizations that are hiring there is also a resume critique service here. so you can get some feedback on your resume for free. in san jose, karina rusk, abc7 news. >> thank you very much. america's long-term economic downturn is forcing people to cut out some of the comfort. one key example new numbers showing that americans are coon selling cable and sat -- americans are canceling cable and tv subscriptions in record numbers. they lost nearly 200,000 customers in the second quarter of the year. the chief cause is belt tightening due to per analysis tently high unemployment and depress housing market but some say they are cutting cable for cheaper internet video.

>> two suspects have been arrested in the drive-by shooting death of a 3-year-old oakland boy. police say more arrests will be coming. the question is when? abc7's nick smith is live at the shooting scene at 64 and international with the latest on the investigation. nick? >> reporter: kristen, good morning. i have just received a press release from the oakland police department telling me one of the suspects arrested yesterday was release and is not believed to be directly tied to the shooting of carlos nava but they do believe his shooting was indeed a result of gang activity in the area. two suspects have been arrested after being taken into custody at this apartment complex in pittsburg. we learn their arrest is in direct relation to the investigation of the drive-by shooting that took the life of 3-year-old carlos nava. hundreds poured out for a street memorial and vigil to the 3-year-old who was struck in the neck by a bullet, unintended target of brazen shooting on this busy oakland street.

>> people may not like what i'm about to say and i really don't care. it takes an animal to take the life of a 3-year-old baby on a busy street in the middle of the day. there are too many valuable lives that look like us, lose their life on the street every day. >> police are not releasing detail of their investigation. but we have learned that they are looking for a third suspect, and that they have served warrants in hayward, oakland and pittsburgh. that the shooter may have gang ties. >> police say that the information they uncovered could help them to lock it down in the next 24 hours. >> we understand they are indeed looking of members of identified affiliations to two gangs to further their investigation. this is rapidly developing. cecilia vega will have a live report at 4:00 with the latest information. until then, you can go to the website at abc7news.com. in oakland, nick smith, abc7 news. >> nick, thanks very much.

concord police are trying to find the brazen thieves who drove a struck through the doors of a bingo parlor and stole atm machine with a lot of cash in it. caught on surveillance video. the truck has been found and so has the atm. tomas roman joins us from the blue devil bingo hall. >> reporter: behind me, you can see the contractors trying to board up the holes left by thieves this morning. concord police say the pick-up truck was found. the atm was actually in the truck's bed. but we still don't know if the money in the machine is still in that machine. that the thieves actually ripped out of here last night. the front of the blue devils bingo hall is a shamble. door glass is shattered and the steel frame bent and twisted. this is the result of what police call a smash and grab. this is surveillance video from cameras inside the bingo hall. at 3:00 a.m. on wednesday, a

blue pick-up truck speeds in the doors of the bingo hall in reverse, smashing in the glass doors. after breaking in the doors, the thieves aimed a truck for the atm at the left bottom side of the screen. the thieves have to back into it three times before they can knock it off the restraining bolts on the floor. then seconds later, two men pick up the machine that weighs about 300 pounds, according to police, lift it in the truck and speed away. >> we lost $5,000 or $6,000 in cash out of the atm. the atm was probably $8,000. there is probably $8,000 repair for the front end of the blue devil. >> they teach music and the money from the bingo goes to fund training and travel expense of the kids 7 to 22 years old when they compete. rios says his senior team won 17 world championships and is competing today in indiana. all of the money lost is money that goes to the children.

>> we will try to minimize the effect, money out of our bank. but, you know, we'll see what the returns company might help us with. we don't know what our deductle is. >> police say the truck, which they say is stolen, blue on blue ford pick-up truck. license plate was able to be seen in the surveillance video from the bingo hall. rios says it might be a small financial setback but he plans to continue operations right away. >> we'll run bingo tonight at5:00. >> that truck was found in martinez by the c.h.p. police are performing forensics on the truck and atm the see if they can get leads on the suspect. in concord, i'm tomas roman, abc7 news. well, u.s. forces fought back against taliban insurgents who killed 30 american special forces. coming up, new details out of afghanistan. >> the traveling war memorial arrives in the bay area where local veterans can see and touch the

vietnam wall. >> plus, live to los a

♪ [ female announcer ] there's no right way or wrong way. every baby plays by his own rules. and they need a diaper that lets them do it. new pampers cruisers with 3-way fit adapt at the waist, legs and bottom ♪ with up to 12 hours of protection for all the freedom to play their way.

pampers. it's time to play. the two suspects accused of brutally beating giants fan bryan stow made formal pleas in court this morning four-and-a-half months after the assault outside dodgers stadium. lisa hernandez joins us live outside the courthouse in l.a. lisa? >> reporter: good morning. both defendants pleading not guilty this morning. no cameras allowed inside

the courtroom. the defense attorney both arguing to the judge it could taint a possible jury pool or future witnesses. there was also the question of whether or not the fed would ask for lowering of bail. that didn't happen. no reduction to either men's bail. they're behind bars in lieu of $500,000. defense attorney was here and no comment as he walked in court. he represents louis sanchez, the 29-year-old that police say initiated the say salt on bryan stow on opening day. sanchez and 30-year-old marvin norwood charged with string of felony counts as 42-year-old bryan stow remains in serious condition. prosecutors say they feel strongly they have a strong case against the two prime suspects, though it was revealed today in court out of 20 witnesses only one of them identified sanchez in a line-up and zero witnesses identified norwood. in light of the giovanni ramirez arrest who has been cleared in the stow case, the lack of positive i.d.s

by witnesses at this point bode well for the defense. sanchez's sister doreen charged as an accessory dead testify in front of grand jury a short time ago. but the transcripts are sealed unless the information is talked about in an upcoming trial should it happen. both prime suspects expected in court for preliminary hearing september 30. reporting live in downtown los angeles, lisa hernandez, abc news. u.s. forces killed the taliban militants who shot down the u.s. helicopter killing 30 elite service members. the marine corps general john allen today a pentagon news conference that the u.s. forces tracked the insurgents and killed them with f-16 in the morning. the chinook helicopter was hit by a surface to air missile this weekend. this morning, u.s. military leaders are still searching for the top insurgent

leaders that the seals were going after in saturday's mission. u.s. troops killed in the vietnam war are honored in fremont. traveling replica is now on display at devry university. the scale-down version of wall created by a florida cupel in 1993 -- cupel in 1993 so veterans and those who couldn't travel to washington, d.c. could experience it. the wall contains the names of the more than 58,000 u.s. men and women killed in the war. it will be on display through friday at the devry campus on dumbarton circle and fremont. just ahead, meteorologist mike nicco with the forecast. >> take a look outside. beautiful day dawning with the sunshine. clouds are back to the coast. thumbs up, partaking in the sunshine and warmth. around san francisco. we'll talk about how much longer this is going to la last. cooling trend may be in the forecast. >> thank you, mike. how did this happen? e big rig incident that had freeway drivers doing a double or triple take.

>> my goodness. plus, smart phones helping spread riots in brit

this morning, several websites are calling on muslims in britain to launch internet campaign on facebook and twitter in support of the british rioters, urging them to topple the government. investigators say rioters are using smart phones to coordinate their evidents, and some investigators are now calling for blackberries instant messaging service to be blocked until the violence ends. prime minister david cameron says every action will be used to restore action

including rubber bullet and water cannons. overnight, 16,000 police officers flooded the treat of oakland and managed to stop the riots there, but it's spread to other cities including manchester and birmingham where there are new reports of hundreds of people looting stores, setting fires and clashing with police. three people have died and 111 police officers have been injured. case of stolen iphone 4 prototype goes to court tomorrow. they will file misdemeanor theft charge against 22-year-old brine hogan and 28-year-old sage waller of emeryville. hogan claimed he was given the phone by someone who found it inside a bar last year. it had been lost by an apple engineer. prosecutors claim hogan and waller sold it to gizmoto, a tech site that put video of the phone on the site. walloer denied ever possessing the phone. prosecutors decided not to

charge gizmoto or the editor who bought the phone. bizarre video of truck accident in texas. how does this happen? apparently the truck hydraulic lift began raising the trailer while the rig was rolling down the houston freeway. you can see what happened. it wound up getting stuck an an overhead sign. the driver is facing at least one citation. replacing that sign is going to cost $100,000. >> that is really getting jammed on the freeway. >> we have sunshine out there. and with the warm temperatures also come along with it. a look from the sutro. how often have we looked down from sutro tower at this hour to see the skyline and the haze heading to the east bay hills. beautiful looking day. if you like sunshine and temperatures. top down, take a look, you can see the strong northerly wind clearing the neighborhoods of the fog and the low clouds this morning. you can see it is starting

to clear the coast from north to south at we talk about this morning it would. we're off to a good start, as far as that goes. take a look at the temperatures to see if they are responding. near the coast, 57 at half moon bay. mid-to-upper 60s around the bay shore, up to north bay valleys. low to mid-70s. san jose, los gatos, all of the east bay valley to fairfield. around monterey bay, not as much luck. clouds here with the mid-to-upper 50s. inland starting to see sunshine. low to mid-60s for salinas and gilroy. sunny afternoon. and seasonal highs today. mostly cloudy tonight. cooling, we'll see that happen. the biggest drop will take place inland. 24-hour temperature today. concord and fremont the same. san francisco and san jose one degree warmer. two to three degrees warmer around santa rosa and oakland. compared to average, check this out. oakland and san francisco stop at average. napa and redwood city may

fall three degrees short. the sun sets at 8:09. before it does, warmest weather in east bay valley. upper 80s. 87 in dublin. mid-90s. 93 in brentwood. low to mid-70s for most of the east bay shore. castro valley and fremont warmer at 78. around the water and south bay, upper 70s. sunnyvale, santa clara, milpitas. everybody else in the low to mid-80s. we have mid-to-upper 70s on the peninsula, as you head to south bay. 82 in los altos. 70 in downtown south san francisco. and also for saucelito. 78 in san rafael. 76 around vallejo. around the water. inland, low to mid-80s. low to mid-90s. cloverdale, ukiah, clear lake. mid-to-upper 80s around morgan hill. heading to the bay, see the sunshine at premium. the mid-to-upper 60s for you. day game at at&t park. beautiful. breezy in the afternoon. we start off sunny and calm at 12:45. 60. jumping up to 64 degrees. watch out, the high sun burn factor today.

mid-to-upper 90s through central valley. warm air through the south and moving through central valley. cooler in l.a. rain there. temperatures in the low to mid-70s. for tonight, 50 degree temperatures. clouds are more widespread. drizzle if any at the coast. you can see a slow drop in temperatures. it will be two to four degrees cooler by saturday and sunday. the morning clouds give way to afternoon sunshine. >> we take it. thank you, mike. all right, still ahead, it's marry me veggie style? >> coming up, one of the most unusual marriage

today at 3:00 on 7 live, flip-flops on germs that breed in the summer foodware. on abc7 news at 4:00 and 5:00, researchers track down food that makes your chance of developing diabetes skyrocket. the economy impact on those on the market for a new car alarming new trend on the road. we have those stories and more. finally, one of the most creative wedding proposals you'll see. >> colorful. man in china, take a look. disguised himself in a costume with 48 of his friends do the same. >> is that what it was? i thought it was a pineapple. >> the man started to speak to the woman recalling their first date. how they met, and then he proposed. despite her embarrassment, the woman accepted. hope it was the right guy. >> report says the proposal took three weeks to plan and

cost $15,000. the man chose carrots because orange is his fiancee's favorite color. >> glad it wasn't blue. they'd all be in smurf costumes. >> only imagine what vegetable. >> mike talk about dangling a carrot to get her to -- >> right. probably has a big on her finger, too. >> another karat. >> despite embarrassment. thank you for joining us on the abc7 news. >>