andersson cooper joining us from the frontline of the famine in and around somalia, exposing the horrors and how the world can help. i'm wolf blitzer and you're in "the situation room." a disastrous day on wall street. many investors' worst fears realized in the first trading session since the downgrade of america's credit rating. the dow jones industrials closed down 634 points. falling below 11,000 in one of the biggest losses on any day of all time. the dow's losing streak is s getti getting worse. it's lost almost 15% of its value. all three major indices today, way, way down. take a look at the s&p 500, a strong indicator of what's happening to your retirement savings. it lost 6.35% today of its value and is down almost 18% from its high point in april, all told, the impact on all of our investments is enormous. in the range of more than $2 trillion lost in equity since late july, $1 trillion in equity lost today. your portfolios, your 401(k)s, kbrour your iras, $1 trillion less than at the start of the day. richard, is there a simple answer to what has happened, why this market sim