down 357 points. seconds after the opening bell only 90 minutes ago, the dow was down around 1100 points. joining me now, susan herrera, also head of global strategy zachary carabel, and head of bloomberg, michael regent. what's behind this drop? >> basically it's worries about china's economy and china's market. one of the reasons that china is important is because a lot of our big u.s. companies like mcdonald's and apple, the household names, they do a lot of business in china, and if the chinese economy slows down, chinese consumers can buy less of apple's products and spend less at mcdonald's. and the chinese stock market simply has not been performing well for some time now, and the market -- the u.s. market doesn't really think that the chinese government officials have a good handle on how to prop up their market. and all of that has led to the kind of selling we've seen for

the last few days. >> before we talk about, zachary, about what people should do, and obviously folks are wondering what their next move should be so protect their money, michael, we've talked in the last couple weeks about china's current manipulation. we saw what happened on friday. was this a blindside situation for the stock market? >> well, a lot of people believe the market's been pretty weak for some time now. you realize the u.s. market hasn't set a record high since may, right before memorial day. and even that high was only less than 2% higher than the highest level we were in 2004. so it's clear the bull market really ran out of steam this year. and since may -- sue is absolutely right. china is the main concern for this last recent bit of velocity. we also have to remember that the wheel keeps falling and the wheel has been a concern for a long time now. it's not just the earnings

companies that have been decimated, but the junk mail has been on the boom for decades. you also have the federal reserve potentially raising interest rates soon, and that possibly plays into china's strategy. >> that's september 16, right? >> that's their next meeting, september 17, and so whether or not they do is an open question now. the market had become pretty comfortable that they would at that meeting. you know, the odds were above 50% if you look at the futures contract, that trade on the fed funds future rate. that's obviously come way back down now, so it's a lot of uncertainty out there. >> obviously, zachary, we know people don't like to hear the word "uncertainty," even though we've enjoyed these incredibly low gas prices. i believe it was just friday or thursday on the evening news, we were discussing how some people were seeing gas around 1.80

there are here. if you have money in the stock market, what should you be thinking today? >> first of all, this is an intense three-day period of volatility. until it's clear for the next couple weeks whether or not this is the beginning of some sort of end, it's very hard to know what to do around this. if you're going to try to do it in a day, because -- if you decided over the weekend, you know what, i'm going to get into the stock market, and you had bought a lot of stuff at 9:30, you would be up like 6% in the last hour and 45 minutes because the market was down almost 1,000 points at 9:30, now it's down 400. netflix went down 14% or 13% at the open and now it's flat or up again. its fundamental did not change radically in the last 90 minutes. there were no fewer watchers of "house of cards" in the last hour and a half. so these things do happen in the market. the real question, as sue

mentioned, is this a sign of fundamental weakness in the global system, or is it a market-driven frenzy based on a lot of computer training, a lot of al gorhythms. that's where i think you need to figure things out. personally, i can't believe the global market has been terrible and the market suddenly wakes up and realizes that over the last three days. i think they think, great. >> it's interest where we have the concerns regarding greece, for example, we did not see the same reaction this go-round as we did a few summers ago when there was unrest and the threat of people not even able to get money out of the atm, which we saw again this summer, but the records are not, and many people

are wondering again, why are we waking up to this action here when we had not really seen, to michael's point, this major sign that the market was in trouble or this correction could be coming. >> yeah, i think michael made some fantastic points about the fact that the market has been looking quote, unquote, tired for a while. we also haven't had a 10% correction in a long time, and we used to get them at least once a year. so investors aren't used to this phenomenona. as to why the market didn't react to greece the way it did before, i think there was bigger headline risks the first time that it looked like greece was going to default. now those negotiations have dragged on and on and on and the market is kind of like, okay, they'll get it done at some point. so the market has put greece aside. also, greece is not a large economy. china is the second largest economy in the world. and if it craters, it has big implications, not just for us, but for other countries that do a lot of trade with china.

so i think that's why the market is reacting as vehemently as it has been. they also don't trust the chinese government officials. they want them to be mo more aggressive in terms of what they do to prop up their market. they did make some moves overnight. they're kind of technical in nature. but it wasn't enough for the market, and i think that's why it sold off. >> you mentioned earlier about people not buying as many iphones, it was really interesting that apple came out this morning and said, very emphatically, and apple never does this, that their sales in china had been very, very strong. >> that's true. >> even if you don't believe china's official statistics, there is no reason -- and certainly, tim cook, if he were not telling the truth about this, there would be all sorts of major liability, right? >> right, right. >> so you have to think he's speaking to real world economic activity in china, and this is a

china-driven concern. if china goes, we're going to be in a world of hurt. china in the united states is not feeling the effects of that. millions and millions and millions of people are spending proportionately a lot of money on apple devices than would be spent here. i think you have to take that very seriously as an indication of what's going on. >> michael, let me just give you the last word. you have sue concerned about whether or not china can handle this from a global perspective, but also the lingering question about what people should do, what should we wait for next? what is the next shoe to drop, perhaps? >> as far as china goes, there is two possible scenarios here that are really crushing the market. it really is an economic problem right now. the other way to look at it is that there was, at a very important formula in the markets for a long time, and that was that the dollar was worth about

6 6.2. there was a lot of mathematical investment formulas built on top of that one equation. so all of those have to get reset. it's possible what we're seeing is just a real spasmic reaction to this dramatic change in the value of the chinese currency that once it sort of runs its course, we'll be back -- maybe not to new records but the markets will stabilize. >> i should point out throughout this conversation we watched the dow go down to 463. it is interesting, sue, just in the course of this six-minute conversation, the up and down, we'll see what happens as the day continues. it will be an interesting one and obviously one of balance concern for the people who have money in the stock market. so thank you all for joining us and we'll keep following the latest from the markets and keep you up to date throughout this hour of "news nation." now to another big developing story, this one out of france

where just a few hours ago, three americans were awarded that country's highest honor for tackling a heavily armed gunman to the ground on the train in france. airman first class spencer stone, national guard specialist alec scarlotos and alan sadler were given the medal as recognition of their bravery. today stone will travel to germany where he will receive more treatment for his injuries, including cuts that you could see on the back of his head. that's him at the bottom of that screen when they apprehended the individual. the three americans all in their early 20s. they're being credited with stopping this man who they believe was potentially about to massacre the many passengers on board that train, as many as 500 people were on the train. let's get the latest now from claudia lavonia. he is in paris with the latest

on the suspect and what we've learned about him, claudio. >> tamron, yes, this story gets more extraordinary by the day. these three guys were traveling to france as tourists. they leave as decorated heroes. this honor is the highest honor anybody could get in france. it's difficult to get for french nationals let alone foreigners who have to do something incredibly extraordinary to deserve it. what's more extraordinary, of course, than stopping a gunman before he carries out what the french president said during the ceremony could have been a bloodbath, carnage. well, they got him and the two service men are off to germany very soon. we don't know where anthony sadler will go or whether he stays here in france. we'll let you know later. but in the meantime, we're learning more details about the

gunman. now we, at nbc news, spoke to the lawyer that first had access to him after he was arrested in the town of aros, the frenchtown where the train finally came to a stop. he keeps insisting he just wanted to rob the train and he found the bag full of ammunition in a park near brussels. now, this is a story that investigators, of course, find hard to believe because, of course, if you want to rob a train, you don't use an -- you don't need an ak-47, a handgun, box cutter and several cartridges of ammunition. another development is we learned that a french-american was also involved in the struggle to stop the gunman before the three guys stopped him. his name is mark mugalian, who is one of the first two persons who tried to stop the gunman when he emerged from that toilet armed with an ak-47, tamron. >> clark, thank you very much.

joining us now is emanuel scarlotos. he's the father. thank you so much for your time. >> yes. >> obviously what a son you raised there. let me get the reaction of him receiving the honor today with his two friends and what this means to see your son jump into action in this way. >> well, personally i'm honored i have a son like alec, and his friends are fantastic guys, and they grew up together and i love them all. they really -- they committed a selfless act of bravery. you know, it's for the greater good and they risked their own lives doing it. with that said, i'm humbled and honored that i'm related to my son. >> what a proud thing to be able to say as a dad. you know, from the account that

the men told and the witnesses also saw, your son noticed the gunman and looked over to his friend, and apparently shouted the words, let's go, and that's when they took to action. even reading that, i just get goosebumps thinking about that split decision to, as he said, let's go. what do you think prepared him for that? >> maybe some of his military training, but alek grew up with a sense of justice and righteousness, and i think he believes in fairness. he's for the underdog, and i think the people on the train were underdogs because they had no weapon. alek recognized that the guy's ak was jammed because of his experience with weapons, and that's when he said, let's go do it now, just let's go, and

that's when they bum-rushed the guy and got him down. it's fortunate for everybody on that train that they were there at that particular moment. >> you know, he talked so much yesterday at that press conference about the awareness and the training you just referred to that allowed him to know there was a problem. let me play a little of what your son said yesterday at that press conference. >> okay. >> he clearly had no firearms training whatsoever, ask ynd yef he knew what he was doing or even just got lucky and did the right thing, he would have been able to gone through all eight of those magazines and we all would have been in trouble and probably wouldn't be here today, along with a lot of other people. >> do you know when you'll be able to see him? as we mentioned, he's going to germany. when will you be able to have the family reunion? >> i have no idea. i'm as clueless as you are.

i know he's going to a hospital in germany. i think it's a military base there. and i think it's an air force base and that's where spencer is going to probably get a follow-up on his injuries. from that point, yop. >> it's going to be a wonderful reunion and con grat lag-- congratulations for having such a hero in the midst of your family. you're a proud dad and we're proud americans to be able to talk to you today. thank you so much, sir. >> can i just say one quick thing? it's better to die like a lion that be slaughtered like sheep. this careless coward deserved what he got, and the crowd needs to recognize terrorism for what it is. thank you for having me on. >> thank you for having a son willing to serve this country as an honorable man. thank you, sir. >> thank you. turning now to breaking news, we're just learning that

the louisiana state trooper who was shot over the weekend during a routine traffic stop has died. trooper steven vincent was responding to the report of a suspected drunk driver sunday afternoon when it happened. >> this is a sad reminder of just how dangerous the job of state trooper could be today. he died of a gunshot wound to the head. his alleged attacker is in custody thanks to the heroic actions of bystanders. >> this morning police are investigating a traffic stop in louisiana sunday gone tragically wrong after a 13-year state trooper was shot by a man pulled over at the side of the road. according to police, trooper steven vincent was responding to reports of an erratic driver in a pickup truck. vincent found the truck in a ditch and that's when the driver reportedly got out of the car, opening fire with a sawed-off shotgun, hitting vincent in the head. >> i watched the tape a few minutes later. i watched as that trunk door

came open, and i saw a shotgun blast. this guy was carrying a sawed-off shotgun. let me tell you something, that shotgun wasn't to do anything else but hurt somebody, kill somebody. i watched kevin dagle watch from his pickup truck, made it over to the trooper, talking to him, asking him if he's alive. you can hear him breathing in there and telling him, boy, you're lucky. you're lucky. you're going to die soon. >> the suspect was later identified as 54-year-old kevin dagle. other drivers pulled over to help the unconscious trooper, using his police radio to call authorities. the men tackling the suspect to the ground. >> the incredible good samaritans, civilian that was driving by. he wrestled him away from him, while he was there some other people stopped, they got him on the ground, and they actually used my trooper, used his handcuffs and handcuffed the guy. >> police want to know why kevin dagle allegedly did this.

meanwhile, support is pouring in for sergeant vincent. he is the father of a nine-year-old boy and he's married. the state police in louisiana today say they are heartbroken. back to you. >> awful news to report. thank you very much, stephanie. coming up, will joe biden jump in? joe biden held a surprise secret meeting with elizabeth warren, only fueling the expectation that he could be getting in the race very soon. plus, jeb bush's strategy to fight donald trump on immigration. bush is heading to the texas-mexico border to talk with officials today. trump now leads the gop field with twice as much support as jeb bush. the latest in politics is next. you can join the conversation on line, you can find the team on ne newsnation@twitter. we'll be back with your political news. vo: with beyond natural dry pet food, you can trust our labels.

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we continue to keep a close eye on wall street. you see now the dow is down 470 points, but it actually is recovered after plunging almost 1100 points at opening bell amid panic selling. all of this started last week, as you must recall, by fears that the slowing economy in china could spill over globally. we'll continue to follow the latest, obviously, from wall street. but to politics now and vice president joe biden's weekly lunch meeting with president obama is about an hour from now and it takes on a different meaning, perhaps. maybe they'll discuss this headline. the wall street journal reads, biden is leaning toward a 2016 run for president and fueling speculation that the vice president was entill enter the .

his surprise meeting with elizabeth warren who is loved by liberals, msnbc news peter, correspondent, is with us. >> joe biden, at least according to his team, making a last-minute trip to d.c. over the weekend to meet with the woman that a lot of liberals wanted him to run against hillary clinton, and this morning a lot of liberals are reporting that biden is increasingly leaning toward a run if he can mount a political bid. neither mr. biden nor ms. warren had to be seen for the message not to be heard. the surest sign yet that biden is seriously weighing the 2016 run. warren, a darling among progressives, may be the second most prominent democratic woman trailing only hillary clinton. but she's been lukewarm at best about hillary's campaign, most

recently in wbz in boston. >> was it a mistake for the party to anoint her as the nominee early on? >> i don't think anyone has been anointed. >> they touched on both parties' presidential campaigns, with biden mentioning he was seriously considering a bid of his own. still, he did not directly ask warren for her support. with clinton still fending off questions about the use of her private e-mail, her allies see a potential opening. the polls show only 57% of voters show her honest and trustworthy, 58% don't. 56 and 10 say they trust the vp. some democrats think a challenge could benefit clinton. >> she's a terrible front runner but she's a marvelous candidate when she gets into the race.

>> wehile biden's aides says he'll make a decision by the end of the summer, that deadline could slide. still, he will have to decide by the next debate october 13. they say biden just gets it. his best chance to successfully enter this race is to be drafted, welcomed with open arms where he would be seen not as a party spoiler but as a party savior. back to you, tamron. >> all right, thank you, peter. joining me now, senior white house adviser for politico. you heard insiders say joe biden just gets it. he's looking to be drafted as opposed to looking or appearing as if he's disrupting the party. if that is the case, how does he make that happen? >> well, he lets the anticipation keep building. he does things like he did this weekend in the meeting with elizabeth warren, puts feelers out there enough to show he's interested and keep the conversation going, and then waits to see if it comes back

with even more energy and more interest. so far that's happened, but it will take a lot more to get to the point where he would make the leap fully into running for president. we'll see if that is where this goes. >> let's talk about this meeting with elizabeth warren. as chuck todd and others have pointed out, this was a leak. this wasn't supposed to be public, but obviously the public was pulled into this. how valuable is she at this point to vice president biden and the decision-making process that is clearly going on here? >> you know, there are more secretive ways to meet with elizabeth warren than make ing surprise trip, so i'm not sure a leak that wasn't supposed to get out is the right way to describe this, really. but elizabeth warren, whatever she says about the presidential race, a lot of people pay attention to. there is obviously some interest among the base and getting her to run for president herself, but she is identified with these issues of income equality, which

is huge for the democratic base this cycle, showing that there is a lot of energy there, a lot of interest in where things are, and a lot of questions of whether hillary clinton is where they want her to be. joe biden's record is not that different from hillary clinton's when it really comes down to it on these issues, but if elizabeth warren is backing biden, that could give him the credibility he would need to make this case. >> so the credibility issue that continues to haunt hillary clinton, i just want to play what jerry brown, the governor of california, obviously a democrat, what he had to say to chuck regarding this e-mail issue crisis, whatever you choose to call it, it is a problem. >> it is a problem. >> this e-mail thing, it has kind of a mystique to it. an e-mail is an utterance in digital form, but it has some kind of dark energy that gets everybody excited. it's almost like a vampire.

she's going to have to find a steak and put it through the heart of these e-mails in some way. >> i listened to that bite like six times. with all respect to the governor, i thought it's clear that democrats or some of them having a difficult time explaining this. we're now comparing this to steaks in the hearts of vampires. >> and dark energy. >> and dark energy. you know, it does beg the question again, how does she piece this back together and keep joe biden from entering the race? >> well, look, i talked to some folks in the white house last week who watched the press conference that hillary clinton had trying to explain herself, and they told me they were a little concerned, and it was for a piece that was out on our website this morning about the divide in the white house and whether they think biden should run, whether they think he is the right continuation of obama, whether he would be able to beat her or would actually bloody them both up in a bad way,

whether biden is emotionally in the right place to be running. but they're all -- these are people in the west wing, top people from obama's two campaigns who are saying they are concerned about what's going on, not because of the e-mail -- anything that's been found wrong technically in a major way yet, but because she's struggling to get over it. >> i'm out of time but i've got to quickly talk about, obviously, he's having lunch with the president, regular meeting with the president. do you believe this conversation comes up? second, how soon or how much time does joe biden have left before he can make this big announcement? >> i would assume they'll talk about this, but who knows. those lunches stay very, very private. they generally don't talk about them to anybody, both obama and biden, so we're not likely to hear what came out of that conversation. and it may not be the final conversation. it probably won't be, because biden's mind is still not made up. as far as the time, he does not have a lot. i think peter was right in his

piece to say certainly by the first debate in october, but probably before then is when he would really need to get moving. >> ed isaac domare, thank you very much. coming up, president obama's nuclear deal with iran. the backing of the senate's top democrat. what minority leader harry reid is saying about the historic deal and what influence he has on the continuing battle to get the deal done. it is part of this morning's first read on politics. coming fast. could be bad. could be a blast. can't find a single thing to wear. will they be looking at my hair? won't be the same without you bro. when it's go, go to the new choicehotels.com. the site with the right room, rewards and savings up to 20% when you book direct. choicehotels.com

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to folks out there whose diabetic nerve pain... shoots and burns its way into your day, i hear you. to everyone with this pain that makes ordinary tasks extraordinarily painful, i hear you. make sure your doctor hears you too! i hear you because i was there when my dad suffered with diabetic nerve pain. if you have diabetes and burning, shooting pain in your feet or hands, don't suffer in silence! step on up and ask your doctor about diabetic nerve pain. tell 'em cedric sent you. now to new developments in the republican race. it shows donald trump leading in the gop field at 32%, near doubling his nearest competitor jeb bush. a "new york times" analyst predicts, donald trump won't fold. it concludes, trump has built a broad, demographically and

idealogically diverse coalition, constructed around personality, not substance, that bridges demographic and political divides. they still predict he will fade. >> donald trump is not going to grow to that. in all likelihood, he surprised us, but i don't think he'll be the nominee in that sense. at the end of the day, he is a big government republican. he doesn't fit our party. >> in the meantime, jeb bush travels in afternoon to texas to the border with mexico. he'll hold a closed door meeting with local officials to discuss border security and related issues, and then hold a meeting of availability. jackie, thanks so much for joining us. we had alex castellanos on "meet the press" yesterday saying trump will not get to 32%. this new poll has him at 32%. >> they want trump to go away so

badding, because not only is he sucking up all the oxygen, but he's putting out a face for the party that they don't see, they don't align with. that is also problematic. a lot of people are going to trump because of his personality like the "new york times" wrote. not because of his deep policy ideas where jeb bush is someone who is a policy guy. it's not as shiny, it's not as exciting, so right now, everyone saul about trump. >> this is a scene, obviously, in mobile alabama, and i really enjoyed reading this "new york times" article about the demographics and this diverse coalition of people that he potentially can attract. bear with me here. i was talking with friends yesterday and saying, you know what? here's a man that owns casinos and he's like a human casino lottery ticket where people believe he is rich, so he might make me rich. it is potentially a chance for people of a lower economic level, as we refer to these voters in these different blocks, to support donald trump solely based on, hey, he's rich, so he might make me rich.

it's let me put my dollar in the casino slot machine, even though i know they're built to beat me, but they just might let me win this one time. >> i think in general americans tend to be aspirational. they want to think that tomorrow is going to be better. and donald trump is promising them that. he's not telling them how, he's just saying, don't worry about t i'm a great negotiator. >> like the casino. we'll get something to you. >> he is a gamble for the republican party because he does say things that does not align with what you think is traditional. he's talking about raising taxes, he's talking about keeping social security right where it is, not making changes and not seeing, again, how you would do all this and solve the debt crisis, all of the other things that a lot of republicans talk about all the time. >> but he is and he does continue to talk about immigration, and here you now have a week or two after trump made his appearance at the border, jeb bush going down to texas, a state where his family has deep ties, his brother is

governor, and now he's following the trump show to the border. >> if you follow the trump campaign, you could say he was going to go down there, anyway. i hear what you're saying, and jeb bush did a little bit of damage to his brand last week using the offensive term anchor babies. that's not something you would expect to come out of jeb bush's mouth considering his views on immigration. he's been for comprehensive reform in the past, but now he's feeling the pull of these conservatives who are supporting donald trump. they're more in line with the donald trump republican party than jeb bush. he's trying to figure out how to square that, and if we're talking about someone who wants to be a general election candidate, they're going to need hispanics and using language like that doesn't help. >> thank you, jackie forks coming in. up next, on breaking news we continue to follow massive turmoil on the stock market. you see the dow is still down over 400 points. we'll continue to check in with

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we continue to follow that breaking news on wall stlereet. as mentioned the dow is having a rough day, down 400 points. it's steadily gained after dropping near 1100 points just seconds after opening bell, but it's definitely an up and down day. cnbc contribute tore ron stella is live. ron, people will wake up this morning. they'll start to look at their cell phone and see they're down 410 points. what's going on here? >> for all intents and purposes, it crashed last week. last night it was down 108%. the government has been unable to stop the slide in stocks which has been a 4% decline. asia was down on average 4%, asia was down 3%. as you said, the knife down

almost 1100 points and then snapped back. it's close we're getting back to the end of this selloff, in the u.s., anyway. we've done almost 4% from the all-time high. it's still a little dodgy out there. it may not be quite the time to jump in with both hands and feet. >> obviously that's the other question you have when you hear other people talking, is this the time to go in and make some changes, or is this the time to potentially make some purchases? >> well, potentially, certainly. as you would in any department store if something is on sale and you can get something you really like for anywhere from 10 to 15%, 25% in the cases of some high-flying stocks, you may want to sharpen your pencil, make your list and do that. there is one critical thing happening in the week in addition to watching global currencies and the like. the feds have a symposium on friday. if we get any hint from the federal reserve that they may not raise interest rates this year, that will be a plus.

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hp helps business move on all the possibilities of today. and stay ready for everything that is still to come. we are back with your first read on politics. president objeama is back from vacation and has a busy week ahead of him, including sealing that deal with iran. harry reid is reconsidering his backing. climate change starts with a trip to the national clean energy summit in las vegas. joining me now live, he's back, nbc senior editor mark murray. mark, let's talk about this big august that the president has, starting out with the nuclear deal with iran. >> yeah, tamron.

you know, the fall is always a busy time in washington, d. dc, and for the president of the units, this is a bigger one particularly as he winds down his presidency, and as you mentioned, chief is getting that iran deal through congress and the math indicates that harry reid, there was one other democratic senator, debbie stabenow, came out in support of that. that means 28 democrats are in support. the white house is just six democrats away from being able to prevent a veto override there. but as you also mentioned, president obama heads to nevada to discuss climate change. it will be a big time conversation with the pope when he visits washington, d.c. and addresses congress next month. then one thing you didn't even mention, trade is still a big issue. president obama ended up getting that trade authority, but still, the details of that trade deal are still being hammered out with the asian nations, and certainly the white house wants to get that done as soon as possible. >> you mentioned climate, and

the president's remarks we're expecting from las vegas, interesting remarks from presidential candidate, republican candidate carly fiorina on "meet the press" yesterday, chuck todd asking her about the drought in her home state and what she sees as the problem there. let's play what she had to say. >> in your home state of california, the drought, the wildfires, more evidence is coming out from the scientific community that says climate change has made this worse. not to say the drought has directly caused it, but it's made it worse. >> you know what's also made it worse? politicians. liberal politicians who stood up for 40 years as the population of california doubled and said you cannot build a new reservoir and you cannot build a water conveyance system. so for 40 years, 70% of the rainfall has washed out to sea. that's pretty dumb when you know you'll have droughts every single year. every three years, let's say. >> we know the pushback from progressives, especially when you hear someone from the

technology world. here she is on the forefront of where the future will be and is at one point in time, and this was her answer to that question. >> as well as the business community, tamron, and the non-energy business community. of course, climate change has been a very big democrat versus republican issue. of course, when you end up interviewing scientists, they say that the scientific study and research is in dispute, that there is climate change occurring and it's due to manmade reasons. but president obama, tamron, in addition to meeting with pope francis, going to nevada today, one of the big things to watch on the climate change front will be the paris conference later this winter with all the world governments there. >> all right. thank you very much. greatly appreciate it, mark. we'll see you tomorrow. >> thanks. coming up, the suspect at the center of a prep school rape trial prepares to take the stand following dramatic testimony from his accuser. we're going to take you live to

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this week jurors will hear from the 19-year-old student accused in a rape at an elite prep school that has captured the nation's attention. his attorney says his client will take the stand soon in his own defense. his accuser was on the stand last week for three days.

a witness told the jury he had sex with the accused. that testimony disputes the defense's account that the two never had sex. >> there was a private conversation between me and owen where i asked him if they had had sex, which he told me they did. >> and when the group was present, did you have a conversation with him then? >> i did. >> and what did he say in front of the group when you asked him? >> he played it off as if he didn't have sex with her, kind of in a -- like a joking way, you could say. >> labrie has pleaded not guilty to all charges. nbc's gabe gutierrez joins me from concord, new hampshire. gabe, people are wondering the timing here, if owen labrie is taking the stand as his attorney's indicated, when might that happen? >> reporter: good morning. tamron. he's indicated that will happen on wednesday. so far they dear tailing the

culture there and right now the defendant's former roommate is on the stand. this week his layer says 1-year-old owen labrie will get to tell his side of the story following days of emotional testimony by the other side. >> i was raped. i was violated in so many ways. >> reporter: we're disguising the girl's face and not showing her face. it was part of a ritual known as senior salute where older ones ask out younger ones before gra graduation sometimes for sex. says it was completely consensual and did not involve intercourse. his entire case could hang on his testimony. >> if his story is believebling he could receive a not guilty plea. however, if he lies about one fact he has credibility problems

and that's where the case turns on him. >> reporter: labrie's attorney tried to undermine the credibility under cross-examination. >> you didn't tell him to stop because it was a pleasurable feeling for him, isn't it true? >> i didn't. >> sitn't true you held your arms up so it would be easier for owen to take your shirt off? >> yes, in the end. >> reporter: his family says they're holding up. >> they're resilient beyond belief. >> reporter: katherine who graduated in 2000 says his case underscore as a problem. >> this is a case that doesn't talk about sex crimes. allowed and enabled more of it to go on. >> reporter: the prosecution could bring up dna evidence either later today or tomorrow. tamron? >> all right, gabe. thank you very much. that does it for this edition of

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leaving you free to focus on what matters most. the. right now on "andrea mitchell reports," market jitters. the dow drops. >> the dow jones industrial average lost about a thousand-plus points in the course of trading week. that's five days. we lost that many points in the first three or four minutes of trading today. >> the volatility is extraordinary. >> ready to run? when vice president biden has lunch with president obama today, will 2016 be on the menu? speculation is reaching a fever pitch as hillary clinton's e-mail scandal wears on democrats. >> this e-mail thing,