the dow is now of 252.s morning, we spoke with gary slosh for of the walls capital management about one of the reason for the drops, the strengthening dollar. >> there is concern that with the dollar moving up and is moving up in part because the japanese are intervening in and buying up dollars to prop up the exchange rate against their currency and the dollar also benefiting from what we sell a safe haven bid. that is investors moving out of bureaus and other currencies that are of concern into the house >> concern with italy and spain way the market as >> more on the breaking news story, there is no word when the lock down might be lifted at virginia tech. kids attending a summer camp there said that they saw a man carrying with it thought was a handgun covered by some sort of cloth near dietrich as this past march, federal authorities ruled that investors violated campus safety when they waited too long to notify staff and students about a potential threat. did he know what's out more than two hours lat

the dow is now at 10,930. why aho and on it could fight did say the event of >> consumers are paying more for gas and food. that is driving up prices in the u.s.. since march we have some and a plymouth, numbers coming out. let's get some insight on what is happening. steve massocca from wedbush equity management. good morning. >> morning. >> the dow was down over five other points just moments ago. >> that is correct. what is really driving this is not the domestic economic news for what happened in europe overnight, a couple of things have happened. last night there was an odd event where a european bank, it is complicated, but they have to go to a dollar lending facility. a european bank was i was unable to borrow money from other banks in the normal overnight market. typically banks will lend money back and forth over night or for a couple of days to facilitate liquidity needs. much like to double a, one of the things in europe was unable. no one wanted to lend them money. as a result they have to go to a

the dow is down. this stuff changes a lot. we'll keep you posted on it. global markets for you all night for a clue as to what's going to hatch when markets open. live team coverage, knee know dos santos is in london. andrew stevens is in hong kong. the markets closed lower, they open lower. may have had momentum in the day. tell us what you know. >> if you look at where the market closed, the momentum was working against the asian markets. there was a link to the u.s. economy. asia is the exporting capital of the world, taiwan, china, all of these markets taking a hit. hong kong on the back of -- let's see what happens in china takes those hits. so you do have the fundamental issue, this linkage with the u.s. so, we're seeing a selloff across the board. australia is interesting because it's where they're going. that's a big fault because it's a commodity index. everybody is saying the commodity prices will awaken because of the weak global economy and you can't discount what's going on in europe either. it finds itself paying the price for issues which a

even seeing recovery on the dow.g money going into gold, for instance, which hit a new record. and you see money going into u.s. treasuries. ten-year note now yielding or pay an interest rate of less than 2%. when more people want to buy them the demand goes down. you have to pay less interest on those. and so the interest rate has come down. that is really, really historic. i mean, we're now talking about people just saying, i don't know what's happening in the market, so i'm pulling my money out. i just want to make that distinction, kyra, because that's not the same as people saying everything is going to hell in a hand basket. they're saying i don't know what the next economic report is going to do to the market and i don't want that volatility. logical decisions about what to invest in, do not make sense this week. they didn't make sense last week. they may not make sense next week. this is just people pulling their money out until they get a sense of who is growing, who is not growing and who is going to get th

looking at the futures for the dow, the dow which closed down 5.5% in the 634 points yesterday, the dow is down again at start of trading, at the morning, .6 of 1% lower. it was down triple digits at one point. improving from the lower levels. >> so much of what's happening on wall street in the united states is tied to what's going on in europe. someone put it to me this way, that the countries are like our banks in 2008. in need of bailouts. is there even a european mechanism that could pull off something like that to bail out entire countries at a time? >> yeah. i mean that is the question of course we've seen bailouts for portugal, for greece, for ireland. but now we're getting to what is a stage of realization. either bigger countries nearer to the center of europe. the third and fourth largest countries in europe, italy and spain, which potentially need a lot more money put into them, if they are to service their debt commitments over the next couple of years. we're not talking about bailouts of under $100 million. we're talking about bailouts of possibly up to $1 trillion put int

the dow is now up to the 39 --the dow is now up to 239. the asian markets are down slightly. >> in news around the bay, the woman suspected of robbing in jeopardy host alextrebek says that she has an alibi. they say that she is a prostitute, not a feast. she was at the hotel to meet someone. prosecutors say that she stole $650, a bracelet and other things from the room of alextrebek. she has pleaded not >> family and friends of michelle le will have another fun raiser at shelby's restaurant. 20 percent of non alcoholic food and beverage sales will go towards her search. it has been 75 days since she has been seen. hayward police believe that this is a homicide. >> the two men arrested in the beating bryan stow have pled not guilty. they were charged with assault, battery and mayhem. the judge to clear the cameras will not be allowed in the courtroom during the trial. police believe that sanchez and nor would randomly attacked several giants fans at dodger stadium back on march 31st. meanwhile an update on the condition of bryan stow, his f

the dow is no doubt 3 to 33.. we will be watching what happens on wall street this >> with the dow of over 1600 points in just three weeks. we have in the world according to gary coming up after the break. >> good morning, gary. when all is said and done, the giants beat the phillies. what a series! >> even as strong as giants fan has to admit, on paper, would you look at the lineup, the phillies are better. when it comes to the post-season, we will see what happens. the phillies are good. >> i went to the games on saturday. >> good for you. >> i love it. two hours 20 minutes from start to finish. >> last night the yankees and red sox played for over four hours. i think to 0.5 hours is just about right. >> that was all i cared >> >> ramirez, called toadied illegal alien. i have noted for 16 years. he did not sit on the air, he said that any he tweeted and removed it, but once it is out there, it is done. by >> that is the trouble with this week. --tweeting. he apologized after, but he was just getting attacked. ve

the s&p 500 is doing worse than the dow, so what you're looking at is 3.8% off on the dow. believe it or not. it's been lower, and what you're seeing now in the last 15 minutes is a real struggle. you've got people selling and other people buying who think that this doesn't make sense. this is based on fear of central banks that have intervened in markets in japan and in europe having to do with italy, as allison was saying before the break. it didn't work. it panicked some people. on a day like today when there's this much trading and volatility, normally that bell rings at 4:00 and you get an idea of what's going on. this will probably take 15 or 20 minutes to settle down. it's a real struggle between buyers and sellers right now but we won't make up a lot of the ground. there's a possibility we're making some of it up there. >> i want to ask about context actu contextucontextur contextura l aspects. >> this is why you care all of the dow blue chip stocks are down today and the selling is accelerated right on the screen into the close. brooke, i want to give people perspe

the dow down about 436 points. they're off their lows of this session where we saw the dow down as much as 500 points. this is coming after morgan stanley kind of set off an alarm bell saying that the u.s. and europe are looking like they're getting close to going into a recession. morgan stanley also downgrading its growth forecast globally for this year and next. also not helping we got a bunch of economic reports here in the u.s. one on jobless claims showing a rise in jobless claims, the jobs area something that this economy really wants and needs at this point and not seeing. we also got a very weak regional manufacturing report showing contraction and a weak housing report showing sales declined about 3.5%. see what you do when you olympic all that together you get a big sell-off and that is what we're seeing right now. frederic fredericka? >> that as it looks for the dow. let's check out what the nasdaq issing looking out right now. paul, assistant managinged or for cnnmoney.com. is this consistent across th

the dow was up 179 points.s, it has edged above 11,000, right now it is trading below bibelot. there is a new report this morning that says anything fog of the housing market recovery in the coming months has vanished things to the recent bad economic news over the past several weeks. according to the case schiller index it will take at least two years before the medium home emprise returns to levels before to about 11. analysts expect prices to fall for another year before they start coming back up. >> the estimated cost of the california high-speed rail project is rising by billions. environmental impact studies of the cost of building the first segment anywhere between 10 billion-14 billion. that is higher than the 7 billion original estimate back in >> 101 also had a hot spot on the bayshore freeway southbound at embarcadero road, that has been completely cleared and the accident gone from the lanes. the southbound drive times are back to 38 minutes which is exactly what they should be. the 680 hot spot is

the dow is down 66 points now.ered a little bit but roller coaster ride is probably going to continue. so try to have a grea >>> good morning, america. and breaking now, markets plummeting again over those new fears about a possible recession. thousands line up for jobs in the summer heat and growing pressure for the president as he begins his summer vacation.

the dow jones industrials. you talk about what that means, and we're talking at least $1 trillion, maybe $2 trillion in equity, and that's investments that simly have gone away. >> i hope my friend, alv velshi is correct. ali is right, it's not just about the impact. the president said job growth is modest and unemployment rate is high, and there are 16 million americans out there unemployed or under employed, and the president has been the leader of the country for 2 1/2 years for which the economy is treading water or worse, and then he gets the horrible tragic news in afghanistan, and there's a funk in the country right now, and it's reflected in our new poll. the economy is still in a downturn and are conditions getting worse. 60% said it's getting worse. how are things going in the country today? in may, 60% of america said badly, and now it's 75% say badly. and i don't think ali will disagree, it's a consumer spending driven economy. if consumers think things are going badly, they save their money and tha

the dow down 138 points.in mind it's not a huge surprise to see a pullback after we had such a big rally and kind of get used to this because we are likely to see more of these wild swings until the market finds a new trading range. of course, we all want to know you know, when are we finished with the downward spiral. doesn't look like it's happening soon. expect the negative momentum to continue. volatility is the word of the day yet again. but you know what? if you look at yesterday swings, you kind of have an inkling how things will go today. you look at the dow between its lowest and highest points it swung in a range of 640 points and see-sawed across the break-even point more than 30 times during the trading day. i mean, this is really, really crazy trading. so what we are looking to see happen today, t.j., we want to see if we can get smaller gains and losses throughout the day, but really at the close because that would show that the market is finding some equilibrium. these huge price swings during

rally cry ends in dow's massacre. what we're talking about, the president of the united states would come out at 1:00 in the afternoon, well, he didn't show up at 1:00. they thought 1:30. by 1:52, he did go into the state dining room there at the white house and he had -- he had essentially what he thought would be a pep talk to talk the markets up. to reassure traders. when his speech started, the dow was down 410 points. did he reassure the markets? absolutely not. 10 minutes after the speech, the dow was down 423 points. 30 minutes later, down 200 more than when he started. >> sure and ended up 634 points lower. i will tell you, traders are -- people were just waiting to see what he had. what's going on, president? help us out. come up with an idea. give us some hope and he went and he didn't really have much to say. take a listen to what he had to say. >> markets will rise and fall but this is the united states of america. no matter what some agency may say, we've always been and always will be a triple a country.

with the dow doing what it did the last half hour. >>neil: for people who have been betting on gold and wondering up wonderful advances on gold, is that telling you something, that maybe, maybe, the air is coming out of that? >>guest: i don't think the air will come out of that. we will try to inflate our way out of the problems and we have bigger problems than a gold bar. right now, what we have to worry about is growth. if we spend the time we spent with the debt ceiling or the debt downgrade debate and worry about our g.d.p. we are basing things off of g.d.p. figures and all we have done is look in the rear view mirror and take the numbers down, we are only going to grow our way out of the problem. so, today, with gold and part of that growth will be inflation, that gold trade will still stick and the silver will stick but on a day like today they looked okay with the orderly market sell off but when the rest of the world knew the route was on and with the dow finishing down 500 points down people look the money off the table and w

the dow plunged 520 points, wiping out all of yesterday's gains. in washington, president obama met with federal reserve chairman ben bernanke and treasury secretary geithner. no word yet on what they discussed. but here at the new york stock exchange, investors were dumping stocks on new worries about europe's debt crisis-- this time in france. here's how things looked by the closing bell: the dow was down 4.5%, a loss of 520 points. the nasdaq tumbled 101 points and the s&p 500 fell 52. volume remained heavy. on the big board, 2.1 billion shares were traded, and 3.3 billion on the nasdaq. so where do stocks go from here? suzanne pratt reports. >> reporter: on wall street these days, what goes down must go up. and down. and up. and so on. experts say vertigo is the new normal for stock investors, and that's unlikely to change until there's clarity on the global economy. today's worry? france and its biggest bank, societe generale. there's concern s&p will downgrade the bank, too. as a result, financial stocks in the u.s. led the selloff as investo

and the dow down 520 points and another huge sell-off today.t is going to do it for this monday edition of "newsnation." i will be back tomorrow, and in the meantime, thomas roberts is in for martin bashir. >>> hi, everybody. good afternoon. i'm thomas roberts in for martin bashir on monday, august 8th. manic monday. the market reacts to the new downgraded status. >> no matter what the rating agency say, we always have been and always will be a aaa country. >> and people across the country worrying about the 401(k)s and can anything right the sinking economy. and the fallen -- >> the man i fell in love with was gentle and kind and a wonderful father,

here's the dow's intra-day performance. as you can see, it was down, down, down at the open, and we stayed lower all day. since the selling began on july 21, the dow is down almost 13%. suzanne pratt was on wall street today and has more on the market plunge. >> reporter: just when you think it can't possibly get any worse for the stock market, it does. today, it was fresh concerns about economies around the world that walloped wall street. a big salvo came from morgan stanley's slashing of its global growth forecast for this year and next. the investment firm says the u.s. and europe are hovering close to a recession. on top of that, there were worrisome reports on housing, factory activity, and the labor market, all in the u.s. veteran trader ted weissberg says recession talk is the problem. >> what we're seeing today perhaps as a knee-jerk reaction to the morgan stanley downgrade of growth is investors once again saying, "i can't deal with the risk, i can't deal with all the unknowns." >> reporter: today's losses extende

the tenth largest point gain in the dow's history. of course, that came a day after the sixth biggest drop in its history. if you're going to watch the dow, it helps to have plenty of dramamine close by. the fed helped make that rally happen. it did. officials promised to keep interest rates, not just low, but exceptionally low for at least two years. one professor says the fed admit thad the economy will stay weak through the middle of 2013. >>> on to the world of politics, the congressional super committee, the deficit killers assigned to lop a trillion and change from the deficit is taking shape. harry reid has named patty murray of washington, max baucus of montana and john kerry of massachusetts. murray will act as co-chair. here is what senior political analyst david gergen said about what lies ahead for them. >> all the indications are that there will be very tough fights ahead, there could easily be a stalemate in this committee. i will say the democrats are very supportive of senator reid's choices. on the republican side, th

dow industrials.r political buzz. your rapid-fire look at the political topics of the day. three questions and 30 seconds on the block. maria cardone a sirius xm political talk show host, and dana loesch, all right, guys. first question. howard dean comes forward and says tea partiers have not just been drinking their tea, but smoking it. they came out and said that the president is destroying the foundations of the u.s. economy. what do you guys think? blame the debt downgrade on the tea party tactics or the president, maria? >> there's no question, kyra, that this is the tea party downgrade. i call it tea party hangover. you can absolutely lay the downgrade in the lap of the tea party. s&p actually mentioned that this was one of the reasons in their analysis that they downgraded because political leaders were willing to gamble the debt and the nation's -- the nation's political future, frankly, financial future on the negotiations. they were willing to do that. they took us to this point and now all

dow down. the sons of former slaves and the sons of former slave owners will be able to sit down together at the table of brotherhood. i have a dream today! [ male announcer ] chevrolet is honored to celebrate the unveiling of the washington, d.c., martin luther king jr. memorial. take your seat at the table on august 28th. >>> welcome back to the newsroom. we're not going too far from the story there at the new york stock exchange. the dow down 385 points. we're 35 minutes away from the closing bell. i have my colleague, ali velshi helping me out this afternoon live from new york. ali, i appreciate it. for now, i do want to go to poppy harlow with cnn money.com. poppy, i understand you interviewed a trader today who had some perspective on the moment the president spoke. what did he say? >> reporter: that's right. i talked to two critical people. one on new york stock exchange. teddy wiseberg. you talked to him last week when we saw the fall on thursday. on the floor more than 40 years. also,

the ninth down day for the dow in the past ten sessions. any hopes for a rally after washington's debt ceiling deal faded quickly. commodities did not fare much better as oil, gas, and silver fell by more than 5% in the u.s. bond market, also now on track for its sharpest week-long decline in yields since the height of the financial crisis. the outlook not much better overseas. european markets opening sharply lower following some big selloffs in asia. let's get right to that. take you live to london. that's where you find cnbc's ross westgate. ross, how do the markets look this morning, my friend? >> reporter: it's been a pretty ugly session overnight in asia. those markets closed, japan down nearly 4%. pack to the lows that it hit after the earthquake. hong kong off nearly 4.4%. and europe weather europe opened, the heavy selling continued. both the u.k. and german markets down 3%. bouncing off slightly off the lows. currently down 2%. we have a perfect storm here of fears. global growth slowdown, particularly centered on what's going on

here is dow so far this year. today's better-than-2% gain puts the dow down just a fraction from where it began the year. and, above 11,500, the dow is above its mid-august high after the steep sell-off from late july. bank of america again topped the dow gainers, adding another 8%, continuing the rally from last week, when warren buffett announced his stake. b. of a.'s latest move to raise money was today's agreement to sell half its stake in china construction bank. b. of a. will make more than $3 billion from that sale while still owning 5% of the china bank. since buffett announced his investment thursday, bank of america has added $11 billion to its market value. fellow dow component travelers shows just how strong property casualty insurance stocks were during the first trading day since hurricane irene. travelers jumped more than 5% as insured losses from the storm are expected to be less than feared. shares of travelers are above where they started last week as irene was gathering strength. hartford group

the dow is up.keep an eye on that after the labor department reported the jobless rate fell to 9.1%. most of the economists expected it to remain unchanged. >>> president obama will announce a new initiative helping a million unemployed military veterans find a job. the president is proposing tax credits start agent $24800 $-- starting at $2400 for those that hire unemployed veterans. >>> jade hernandez is at the scene she has been talking to navy base about-- she has been talking to neighbors about this. >> reporter: we are at the apartments. squad cars are out here still this morning. the san jose mobile command center is out here. they have pulled crime scene tape up here to block off the gate. now the san jose police mobile command unit and all of the squad cars are out here hours after police arrived this morning at 2:30. we are piecing together details right now. neighbors say they heard noises yelling in a loud commotion. before police found a young woman stabbed to death inside of an apartme

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the dow is now we're taking a live look outside at walnut creek. more people are on the roads, 680 is still a breeze communalize. we will be right back. okay, kids, we can record one more show. who should get it? i really love jennifer. yeah, she's great. yeah. yeah. kyle's got that thick head of hair. and that should be rewarded. okay, moment of truth. on "three," say which kid you love the most. ooh, fun, yeah. one, two, three. jennifer. jennifer. whoa. wow. she's so pretty. yeah. or we give it to kyle. it's really all he's got. [ male announcer ] switch to at&t u-verse and record four shows all at the same time. just $29 a month for 6 months. at&t. just $29 a month for 6 months. the kincaids live here. across the street, the padillas. ben and his family live here, too. ben's a re/max agent, and he's a big part of this community. there are lots of reasons why re/max agents average more sales than other agents. experience, certainly. but maybe it's also because they care about the markets they serve and the neighbors who rely on them. nobody sells

the dow had a 640-point swing. here's today's session. it opened with a triple-digit gain; mostly holding that until just before the fed's statement. the dow was down almost 200 points a half hour after the fed announcement, but came back strong into the close. almost a 4% gain. the dow ended up 430 points, the nasdaq jumped 125, and the s&p climbed 53. volume was heavy, but a little less than yesterday's sell-off-- 2.4 billion on the big board and 3.8 billion on the nasdaq. >> susie: let's take a look at what exactly the fed said about the economy. economic growth has been "slower than expected"; job market indicators have been weaker than anticipated; the unemployment rate will "decline only gradually." housing is "depressed"; consumer spending has "flattened"; and "downside risks to the economic outlook have increased." >> tom: so why did investors go on that late-day buying spree today? suzanne pratt went to wall street to find out. >> reporter: today was a day for some serious bargain shopping on wall street. after the recent poundin

dow closed down 519 points. last time the market fluctuated so dramatically was the fall of 2008 when the global economy was on the brink of collapse. rollercoaster ride on wall street is bad economic news that has made it a terrible summer for president obama. his approval rating has sunk to 45%. they say the worst is yet to come. the republican presidential hopefuls smell blood in the water. tonight, the republican presidential candidates square off in a debate in iowa but their strongest jabs will be certainly be aimed at president obama. >>> right now, let's get a live look at the big board, few minutes into trading. dow is rebounding up about 124 points. we'll go live to the new york stock exchange at 6:45. >> we're following breaking news where fire crews are battling a structure fire in the hei9d ashbury. sergio is live near the intersection of masonic and hate. what is going on right now? >> i'll tell you what, san francisco fire crews have made pretty quick progress on this fire. at this point they are

the dow lost 5.5% of its value yesterday. it doesn't even rank in the top 20 worst days for percentage drops historically. on black thursday, in 1987, the dow lost 22% in just one day. and many, many times we've seen the dow lose 5%. it hurts. but we've seen it happen many times. still all the indexes took a beating yesterday. the s&p 500, that's the best indicator for the stocks in your 401(k). that lost about 6.5%. every single stock on the s&p 500 ended lower yesterday. the financial stocks, kyra, they were among the hardest hit. when you look at financial stocks. bank of america down 20%. citigroup and morgan stanley both dropped about 15%. stocks are down about 15%, more than 15%, in just a few weeks. but here's some perspective. the s&p 500 is now up 64% from the lows in 2009. so when you talk about the history books and day-to-day movements in the stock market, as dangerous and scary and fearful as yesterday was, you can see we've been here many, many times before. kyra? >> okay so you're basically telling us it's goin

the dow was down to 10,935. concerns about a recession weighing on the markets, especially european debt with asian and european trading. >> new this morning, we are learning that the country's largest bank isay

the dow fell 634oints to 10,809. it was the first time for the dow jones industrial average to fall more than 600 points since 2008 in the aftermath of the lehman shock. prices show no sign of bottoming out. they also say investors are eyeing changes in policy from the federal reserve's committee meeting on tuesday. the sharp drop in stock prices drove investors to gold and bonds. gold hit a record high of over $1700 an ounce. bonds from the u.s., italy, and spain also rose. the dollar fell to the middle 77 yen level on the new york foreign exchange as investors bought back the japanese currency to seek refuge in the perceived safety of the yen. >>> now, share prices in major european markets also dropped sharply on monday to their lowest level of the year. stocks were bought back earlier in the day as the european central bank promised to purchase italian and spanish bonds in an attempt to calm investor concern. sale orders increased following a sharp drop in prices on the new york stock market. european markets clo

the dow fell 634 points to 10,809. it was the first time for the dow jones industrial average to fall more than 600 points since 2008 in the aftermath of the lehman shock. prices show no sign of bottoming out. they also say investors are eyeing changes in policy from the federal reserve's committee meeting on tuesday. the sharp drop in stock prices drove investors to gold and bonds. gold hit a record high of over $1700 an ounce. bonds from the u.s., italy, and spain also rose. the dollar fell to the middle 77 yen level on the new york foreign exchange as investors bought back the japanese currency to seek refuge in the perceived safety of the yen. >>> now, share prices in major european markets also dropped sharply on monday to their lowest level of the year. stocks were bought back earlier in the day as the european central bank promised to purchase italian and spanish bonds in an attempt to calm investor concern. sale orders increased following a sharp drop in prices on the new york stock market. european markets clo

check out how the dow has done so far this year. down 5% on the dow. analysts say you don't see any positive news coming in the near term. without any good news coming, expect more of this selling. expect more of this downward trend. >> we are all buckled in. alison, we will be talking a lot more in 27 minutes. as she mentioned, while you were sleeping, markets in europe and asia, you know, have pretty much wallowed in the red, suffering big losses. lee oni is in london and watching the numbers for us overseas. >> absolutely. the markets are taking a pounding once again. as alison mentioned the global recession fears and in addition to that, the entire debt crisis that still is hanging over europe like a cloud. it just won't go away. when you speak to fund managers and traders, the thing that comes up again and again and again is their concern about the lack of direction from policymakers and that really is what is rattling their confidence. if we look at the markets at the moment here, you'll see red arrows across the board. ftse down nearly 2% and ca

in new york the dow jones fell 4% or 500 points. let's see where tokyo shares are trading. >> thanks a lot. tokyo shares no exception, they are down sharply as katherine said, we are following an overnight plunge of more than 500 points in new york on concerns of the u.s. outlook. we are down currently 3.6% a loss of over 350 points with the nikkei at 9,306. the nikkei is at 9,306 this friday morning. tokyo share prices are taking a beating from a recent string of u.s. economic data worse than market forecasts. uncertainties over the global economy as mentioned by the head of the european central bank on thursday, also dampening investor sentiment. we are back in the 78 levels despite the market intervention by japanese monetary authorities on thursday. we are back at 78.71 to 76 yen against the dollar this friday morning. the euro yen is at 110, the upper 110 yen levels and we'll keep track of that as the day goes on. following market intervention by the authorities to weaken the yen, the japanese currency regained some ground agai

all 30 stocks making up the dow industrial index were down. all of the nasdaq 100 components were in the red, and all but three stocks of the s&p 500 closed lower. as suzanne mentioned earlier, all the major stocks sectors sank today. energy was the worst, down almost 7%. how about that? materials lost more than 6.5% and industrials fell more than 5%. this trio is very sensitive to the overall economy, and with economic worries building investors fled these stocks. in droves. we can see the pressure in alcoa, a 9% loser today. volume more than doubled on this big selloff. the stock is down almost 30% from this high in april. this was the leading loser of the dow. within energy, coal stocks were particularly hard hit. alpha natural resources dropped 17%. volume tripled. shares sit at a new 52-week low tonight. the company reported a quarterly loss thanks to its buyout of massey energy. its outlook for coal shipments was positive, but investors instead sold shares. i mentioned there were only three stocks higher in the s&p 500. hey they are. mot

the dow jumped 150 point -- from july. the dui jumped 150 points -- the dow jumped 150 points. allie rasmus is live with more. and this comes after the massive drop. >> reporter: that's right. within the first five minutes of the opening bell, we saw the dow go up 150 points. but since then, it's come down quite a bit. taking a look at the trading floor of the san francisco offices of the new york stock exchanges, just in the last few minutes we've been seeing and hearing some -- a lot of activity, some explanations, some shouting going on, people running across the floor. as run broker told me the hope here this morning was a relatively positive jobs report was going to stop the bleeding that happened yesterday. it was the worst day in two years, with a -- with a 500- point drop. the labor report added that employers added about 17,000 jobs. but traders and brokers here -- they are not able to talk to us this morning. they are really in the thick. things are really busy. >> this is an incredible economy. it's very resilient. so i think as long as you can get some of the entitl

the dow is down 404. i'm cheryl jennings. >> i'm kristen sze. today was the first day of trading after a standard & poor's downgrade and investors showed their worry. >> leslie brinkley talked to investors about this and tells us more. >> the rumors swirl about rumors of a double-dip recession. i'm at the floor of the new york stock exchange where things got off to a rocky start. stocks opened down 227 points on news from europe, where markets dropped 3-4%. and asia where the market lost 2%. by mid-morning the dow dipped lower down 3%, with some analysts saying it could have been worse. >> no, we could have been down 1,000 at the open. i think overall, our electronic markets all across the united states did very well. handling the increase of volume. it helped that the s&p did this on friday afternoon evening. people could digest it. we could have a little more orderly response on a monday. >> then there was more bad news from standard & poor's, the agency that downgraded u.s. on friday. they downgraded the debt of government backed mortgage gia

the dow was up 92 points. new this morning and alan the county judge is set to listen to motions for the lawyers of the two men convicted in the murder of a journalist chauncey bailey. they say the prosecution's star witness may have lied on the stand. joseph bey, antoine mackey and lazard were scheduled for sentencing today for the murders of bailey and to amend it to of >> a seven> with a hayward man accused of striking a nine year-old boy with his truck and fleeing the scene of pled not guilty. andrew vargas allegedly struck ryan white while he and his family were walking home from a baseball game at at&t part. here he was being arrested in hayward an hour later. he faces four charges including felony drunk driving in a hit-and- run. the nine iroquois remains in the hospital. his condition has been upgraded from critical to serious. great injuries, a lacerated liver and several broken bones including his pelvis. >> police arrested " one of the men suspected of the dozens of robberies around the bay area. a

the dow was down 44 points. 11,440. when we will continue to watch what is happening on wall street right here on the kron 4 morning news. >> buster posey and his wife krista announced that they have welcomed twins. a boy and girl. buster posey is out for the rest of the season with a leg injury. more entertainment but coming up in the next hour. we will be right back with more news, weather and traffic. stay with us. >> good morning, we begin this hour with a look at a hot spot. >> a major back up on highway 101. >> finally, some action and a cleanup that occurred when a truck overturned on ramps from westbound 92 on to 101 southbound. when the truck overturned it spilled a load of scrap metal. that is why wayne's of the bayshore freeway southbound have been shut. >> they have been moving the debris all the way over to the side of the road. as soon as they sweep it up and to get it out of the way, they will be able to open up the to lanes on southbound 101. that should be momentarily. when bobby bonds been >> head has

the green line is the dow.ou know how your stocks have done lately if you've been watching the markets at all. gold is up 2% out of the opening gait and gold trading at $1,744 an ounce. a record high. if you were just for inflation we have to get up to $2,200 but we are close to that. we just talked to one gold trader who told us something interesting saying usually when you see gold prices spike and you see demand for gold etfs or what have you, investors going into gold you see the price of gold jewelry go down that is not what is happening right now. you are seeing demand for gold jewelry go higher. people are buying to wear it and use it as an investment and buying into gold exchange traded funds and stuff like that. people are fleeing away from the stock market they see so dangerous and so much volatility and jumping into a safe haven like gold pep they were jumping into other currentsies and now pushing from that and going into gold. no one knows. a lot of people saying expensive at $800 an ounce and doub

dow up 505. nasdaq up 121. >>> volatility in the stock market is hurting retirement and pension funds. none bigger than california's public employees retirement fund. it lost $18 billion since the beginning of last month. state may have to curtail contributions if the economy continues to decline. last year 30,000 state employees retired. >>> beginning in late october the statue of liberty will be offlimits to tourist for the whole year. lady liberty will undergo a $27 million renovation. liberty island will remain opened during the project. views of the statue will remain largely unobstructed. >>> last night hundreds of san francisco giants facts spent the night on the team at at&t park for the team's annual slumber party. event was sold out. tickets went for $200 per person. fans were given the chance to have their picture take within the world series trophy. >>> tonight at 5:00, in an emergency you call 9-1-1. maybe not for long. how texting and sending photos and videos may be an emergency op

what stock on the dow, one of the dow 30 lost 20% yesterday? >> bank of america.ered. it lost something like dallas 33 billion in short order. on paper. the stock has been hit so hard. remember countrywide? there's real concerns about a slowing economy what that means for its business, what its exposure to these loans. the lawsuits of countrywide during the boom and subsequently the bust. so this is a company. watch it carefully. will this thing bounce back? this is a stock that's been hammered so severely. but it does have, the analysts say significant problems with that countrywide and exposure and also just a slowing economy what that means for its business. we'll watch this one closely. a lot of people say this is a big test for the ceo of this company. how will he weather this because it's been tough. >> i'll see you in 20 minutes. been a tradition on capitol hill since the 1800s. now congress is ending the page program. >>> online spending is up over the same quarter last year by 5%, 14% or 20%. i'll have the answer four in 90 seconds. 38 minutes after the h

that's after the dow dropped 400 points yesterday. carter evans is live from the floor of the nasdaq. carter, which way is the roller coaster going this morning? >> reporter: well, it's a little bit up, a little bit down. kind of bumpy. that's actually a good thing. we didn't fall off a cliff. we did not see that. and the cow has -- dow has been bouncing all over the place. but this 36 is about the best it's been. the nasdaq actually just moved into positive territory. it's up 10 points now. the s&p 500 off just a fraction. that's good news. here is a big reason for the dow's decline right now. hp, look at this. it's down almost 24%. hewlett-packard? what happened to them? they reported yesterday, their outlook not so good but the big news from hp, they are getting out of the pc business and you are saying what's going on? hps a computermaker? not anymore. they don't want to be. they are saying they need to move into more profitable business. people are not buying computers right now. >> that was a big shock to the market and tech. th