jill wagner joins us on what itmeans for investors good afternoon. >> reporter: good afternoon, a rough start to the trading day as you said the dow is down 211 points a big improvement from where the stocks started, saying this sell off is all about china the dow jones plummeted dropping 1,000 points at the first few minutes of trading. >> for me it felt like the crash of 87. >> the sell off continues, down dow plunged 530 points friday, worst session in four years and 2011. fears of china's economic slow down are shaking investors, with china's main index tumbling 8.5%. >> this is a repricing of the global stock markets.

>> adding is the plunging price of oil, fell $40 a barrel since the first time since 2009. wall street is now in what's called a correction, a fall of 10% or more from its high. corrections are natural in a bowl market, most analysts say this one was long over due. >> long-term i'm still, i believe in the united states of america first and foremost as an investing opportunity. the last correction came four years ago. and analysts say it is less likely the federal reserve will raise interest rates next month, most economists still think a rate hike could happen at the end of the year. could you give us an idea if there is any feeling when we could see a bottom in this? >> well you know it really depends analysts tell me what happens in china so if the markets there fall again over night as we saw this morning, tomorrow could be repeat of today but if chinese regulators take steps to stabilize the markets and it works, we could

see the markets here start to rebound. >> jill i want to ask you for the average investor out there and wondering what's going on advice? >> a little scary, analysts tell me don't panic many say we were over due for a correction and in the long term, the fundamentals of the market are still strong. chris and mary? jill wagner thank you very much. new information, as a teenager shot a pellet again at the security, live in the upper east side with more. >> mary, michael left the station house a short time ago now on his way to central booking at this point it is not clear whether he intentionally shot at that police detail, but police tell us that he has fired that rifle from his upper east side apartment before,

this afternoon he is facing a long list of charges. >> no comment and no expression on michael's face on the precinct station house, his night in jail a far cry from his luxury east side home. >> sounds like a horrible thing, not something i would think could happen in this neighborhood. neighbors disturbed to learn their own community, police charge him for firing a bb rifle as she was getting out of the passenger side of this black unmarked police car after 7:00 sunday night. the officer who was part of the mayor's advanced team was arriving at the residence, the pellet striking her in the back feet from gracy mansion. >> strange for me. yeah, very strange. so safe in this area. investigators say he was with his girlfriend when he fired the pellet from his 10th

floor apartment on east end and east 88th street just across the street from gracy mansion. the officers partner immediately looked up and noticed people peering out the 10 floor windows when officered knocked on that apartment door they say the couple slipped out them down near by. >> they should have a penalty. >> this is very expensive, generally considered to be a high-end building in new york. it would be surprising that this would happen in a neighborhood like this. guess right. >> now in addition to this most recent case police charged him for firing that bb rifle from his apartment two other times, the officer was treated and

released. moving on now now hearing from the firefighter who pulled him from the building. alana gold has this report from marine park. >> reporter: firefighters home this morning. >> a lot of smoke, a lot of co commotion. >> his parents and three siblings made it out and started screaming for help. >> everybody in the street was yelling that the baby was in here. >> lieutenant victor with the fdny rushed in to save him and said conditions got more dangerous by the second. >> we had zero visibility, high heat, couldn't tell where the fire was. >> found his way into the bedroom and felt the burning mattress, but no 2-year-old. seconds, he discovered him. >> there was a pile of clothes on the floor as i was searching the floor, i came across the

lifeless infant. >> pulled the 2-year-old from the burning home and paramedics took him to the hospital in critical condition. later this morning doctors transported him to the hospital to get more intense treatment for smoke inhalation. >> close-nit family, you know, the mom, the dad like they are good, they do a lot with the kids, their kids play with my son. so yeah. it is pretty close to home you know, it is really sad so we're just praying that you know he is good. >> firefighters here tell us they believe the fire started if the 2-year-old's bedroom. at this point the cause is still under investigation. in marine park brooklyn. we asked the fire department if the home had working smokedetectors they say that is still under investigation. a long island father faces charges accused of driving drunk with his young children in the car, sanchez is awaiting arraignment on three counts of aggravated dwi under the law, police arrested the 28-year-old

after an officer spotted him driving with no headlights near exit 46 around 10:30, sanchez's three children ages 1 to 6 were in the car one was not in a car seat. happening today, sentencing day for michael, convicted of plotting to kidnap, rape and torture and kill women and children, he came to the fbi's attention after chatted online with a police officer, his conviction for conspiring to kidnap torture women was over turned after he served 21 months in prison, the judge ruled the evidence to quote fantasy role play. and minority leader harry reid has officially announced his support for the plan, sent out a tweet saying this is not based upon trust, but strict enforcement and monitoring of inspections. a tweet sent earlier wrote he would do everything in his power to make sure the deal stands. several local democrats came

out against the deal including his likely successor chuck schumer. and three americans who stopped a potential terrorist attacks are heroes. honored the men at a ceremony. >> france's biggest heroes bestowed the biggest honor. specialist alek skarlatos, airman first class spencer stone, u.s. air force, and their childhood friend, anthony sadler. three ordinary guys who did an extraordinary thing. at the ambassador's residence, spencer stone described for the first time the moment he and his friends faced the heavily armed gunman head on. >> i saw he had what looked to be an ak47, grabbed the gun out of his hand, put him in a choke hold, seemed like he just kept pulling more weapons left and right, took a box cutter, started jabbing at me with that. >> jabbing that cut spencer's

left thumb clear to the bone, despite so badly injured himself, he then helped save the life of another passenger. the suspect al -- saying they are still questioning the gunman the french president said the whole world add their composure. gaining a championship is stopped, gun and ammunitions seized how investigators discovered the threats to a pokemon championship. and apple recalling iphones, why you want to double check some of your pictures. a couple stopped in traffic as a wife goes into labor hear from the new parents and thestrangers that came to help. okay we've got some summer weather today and tomorrow, but some great weather to look forward to, we'll explain we

got your forecast coming up. . caused quite a bit of damage moved through japan and the islands, wind gusts flipped over cars and knocked down utility polls, the storm is being blamed for 19 deaths in the northernphilippines, one of two typhoons, it continues to swirl over open waters. boston police say they foiled a violent plot against

the pokemon world championships. security officers alerted police that two men made threats on social media against people attending the event, the suspects were arrested on thursday as they were about to enter the championships. the police found a shotgun rifle, several rounds of ammunition a hunting knife as well inside the suspect's car. now facing weapons related charges. if you have an iphone 6 plus, and notice you're taking blurry pictures apple is recalling a batch of iphone 6 pluses with its camera, the recall affects phones sold between september and january, customers can have the cameras replaced for free at apple stores, authorized service providers or contacting technical support. a new jersey man tries to race through traffic to get his wife in labor to the hospital. the couple eales baby would not wait. matt has this story. >> reporter: at 7 pounds, 13- ounces bella is a quiet gentle healthy baby but she entered

this world with a bang in the front seat of the family car saturday night. >> she put the seat in he clean, took her pants off and i saw the baby's head. trever was trying to get his wife to the hospital which is 6-miles down ocean avenue, but on a saturday night with traffic, well, the baby wasn't going to wait so he stopped right here and yelled for help. >> this lady who a person in front of me was the trauma nurse, this lady, sarah, and she's said, i'm a trauma nurse. as soon as i stepped out i could hear him screening. >> nurse sarah wood was heading into a party at the beach club across the street when she heard the 23-year-old yelling, she rushed over to help. >> the baby's head and shoulders were out, one more push the baby was out a few seconds later she started crying and with that i could hear trever behind me, he was completely panicked. >> lauren, who works at the club is an emt who also ran over. she spoke to us via skype. >> we were really team work

like i got mom, you got baby then we're going to do whatever we need to do to make sure they both get you know, in, on the stretcher and to the hospital. >> the ambulance rushed baby bella and her mother to the hospital. >> we kept everything together until the ambulance came with the bag that had the clamps and everything and trever was able to cut the cord. >> i can't express how grateful i am for both of them. cbs 2 news. all are doing fine. apparently the tougher job wasn't delivering the baby it was keeping trever calm. >> imagine a trauma nurse right in front of you in traffic. what are the chances. >> good for them. still ahead new information on drinking at an older age, the possible link between education and money. pandemonium at the national

zoo. . the national zoo says the twin pandas born this weekend are doing well and panda watchers can't get enough of them. zookeepers in washington didn't know that the panda was pregnant with twins, the first

couplearrived on saturday with a high pitch squeal, that's a sign of good health. five hours later the zoo staff jumped in to help the mother so they removed one for a few hours but that they'll continue to swap as long as mom allows. >> doing a great job one at a time. nursing cubs and taking care of them as she always does. zookeepers they say won't know the sex of the cubs to three to four weeks. >> i love it! you say 100 days before they name them that's a tradition. let's get a look at the weather. >> my mom had 8 cubs one at a time. didn't have to do the swapping out. >> good afternoon to you, let's see what the weather watchers are watching we watched a pretty interesting morning still lingering showers to the

east, checking in with reliable charlie, 77, this was his morning, a lot of fog do you see that? some river fog there. but we had fog for a good part of ocean county as well, of course that's all mixed away into the atmosphere, proof of that a neighbor near by, sherry, 76 and look at these skies just sent this picture in. beautiful blue out there, more clouds linger for parts of the island, how about staten island check in real quickly with john because he has observation, 81, i'll by that, also a nice day, oh, but not on wall street. i'll bet john has buddies in the biz. from that news to the weather news, that trend will be an ally. we have heat and humidity to deal with. 83 wind out of the west, relative humidity 47% but it is relative to a higher number than we saw this time yesterday. 82 in white planes, edison, when you compare these numbers

to yesterday, 1 to 3 to 5 degrees warmer than it was, dew points at 61 highest dew points, more of a marine influence makes sense, we've seen readings around 70 and that's where we're seeing lingering clouds and moisture as well around the hamptons, 86 this afternoon above normal, sunsets at 7:41 if you can sneak away enjoy but don't forget, uv forecast is at an 8 great beach day, remember that rip current risk you're still dealing with unsettled weather, nothing pleasing about this pollen counts very high today, not a whole lot of change over the next few days and then air quality alert is now in effect of new jersey. this is what i'm talking about, just a little bit of moisture still around the twin forks other than that, we're waiting for this, area of low pressure that front, pushes through enhance our chance for showers tomorrow, could see a stray shower in the morning and then

an isolated thunderstorm in the afternoon, tuesday a little busy, a little busier than we were today not much, but then the payoff, that front pushes through, turns nice wednesday through the end of the week. >> those numbers they look great. >> thank you. new study says seniors may be drinking too much. researchers found 20% of older people who drink alcohol over do it. the study tracked the habits more than 2,000 people over the age of 65 more than 9-pints of beer per american, requesterred pushing safe limits. researchers also found wealthier and better educated seniors are more likely to drink too much. looking to add some flavor and color to your next dish. >> tony is here. >> today's tip of the day is going to be the orange bell peppers, the green, the yellow, the red, the orange, there is even purple ones out there and

ones with different colors i add them to dishes, i love it for its color and sweetness it brings to balance it out, the selection is very important when you buy them orange all the way around, very important, any shriveling whatsoever, up here, nice and green. and nice thick walls and store them in the refrigerator right away orange peppers in the market great for us, taste great, and look, how beautiful they are with everything else. i eat these orange bell peppers raw most of the time that's how sweet they are. your fresh grocer always remember to eat fresh and stay healthy. stephen colbert makes an important announcement we'll be

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winner george clooney and scarlet johansen, and comedian, amy schumer and toby keith. >> right after cbs 2 news at 11:00. that's it for us at noon, thanks for joining us. cbs 2 news is back at 5:00 we'll see you tomorrow morning 4:30 until then have a great

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