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 jones industrial average is currently up 45 at 11430. nasdaq is down 22 and s&p 500 is up about a third of a point. on the trading floor of the new york stock exchange, joining us live to let us know the focus for this final hour of trading, alley? >> reporter: you can hear the phones ringing, you can hear people screaming, the same stuff you would see on any given day. it has been a mixed bag, much like the economy itself. >> reporter: the july jobs report gave the market a boost after the morning bell. they added 117,000 jobs last months. unemployment nudged down slightly. >> that is good but you see less people are actually looking for work so that is a pause for concern. >> reporter: analysts say investors are not sure if the good news in the economy outweighs the bad. >> everybody is hypersensitive because everybody company is doing great the last three years. >> quarter earnings are up and you see 9% unemployment... >> the reality is there are millions of americans still looking for work. >> yes, two years in a finance industry. co

>> the dow jones industrial average has just reaped another milestone in the last ten minutes or lesss way to a pretty serious plunge, and we are off 200 on this session and off last week, and the dow jones industrial average in a necessary dive with continuing coverage. headlines are next. ♪ so let me entertain you ♪ and we'll have a real good time ♪ [ male announcer ] with beats audio and flash, you can experience richer music and download movies straight to the new hp touchpad with webos. requires more than wishful thinking. it requires determination and decisive action. i go to e-trade and get unbiased analyst ratings and 24/7 help from award-winning customer support to take control of my finances and my life. i tap into the power of revolutionary mobile apps. to trade wherever. whenever. life isn't fully experienced sitting idly by. neither is investing. [ birds chirping ] when i got my medicare card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays

the dow jones fell to 10,809. it was the first time for the dow to slip more than 600 points since december, 2008 in the aftermath of the lehman shock. stock prices showed no signs of bottoming out. they also say investors are eyeing possible changes in policy from the federal reserve boards open market committee meeting on tuesday. the sharp drop in prices drove investors to gold and bonds. gold hit a record high of $1700 an ounce. bonds from the u.s., italy, and spain also roads. the dollar fell to the middle 77 yen level on the new york exchange as they bought back the currency in the perceived safety of the yen. >>> tuesday marks the 66th anniversary of the atomic bombing of nagasaki. the mayor will reference the nuclear accident in his peace speech calling for a surge to safer power generation. the ceremony will take place at the peace park near the center of the explosion. participants will observe a moment of silence at 11:02 a.m. local time, the precise time the bomb was dropped in 1945. >> >> representativ

the dow jones fell to 10,809. it was the first time for the dow to slip more than 600 points since december, 2008 in the aftermath of the lehman shock. stock prices showed no signs of bottoming out. they also say investors are eyeing possible changes in policy from the federal reserve boards open market committee meeting on tuesday. the sharp drop in prices drove investors to gold and bonds. gold hit a record high of $1700 an ounce. bonds from the u.s., italy, and spain also roads. the dollar fell to the middle 77 yen level on the new york exchange as they bought back the currency in the perceived safety of the yen. >>> tuesday marks the 66th anniversary of the atomic bombing of nagasaki. the mayor will reference the nuclear accident in his peace speech calling for a surge to safer power generation. the ceremony will take place at the peace park near the center of the explosion. participants will observe a moment of silence at 11:02 a.m. local time, the precise time the bomb was dropped in 1945. >> >> representativ

are pointing to a much lower only and i am just updating my screen right now and it looks like the dow jones industrial average could open at as much as 200 points after gaining 400 and losing 500 so we had quite a volatile week. we will show you that opening bell live and watch it as it heads probably lower. we have included how they rank. >>> time now 60 7:00 more cause for congress to end its -- 6:07 more cause for congress to end its vacation and do something about the economy. coming up, why some say the lawmakers left town without finishing the job. >>> also we are now learning only about half of the new airline protection passenger rules will kick in as scheduled august 23rd. now the airlines and travel agents need more time. the transportation department agreed to delay some of the charges until next year. it requires airlines to disclose the full cost of flights in advertising both online and in print. these new rules were triggered bypass jersey who complained about spending hours with broken toilets and not enough food to eat. >> you don't want to be stuck on the tarmac with me. >

the dow jones is of over to the points but now down to 184. we will give you the latest throughout the morning as we check out our with the conditions. sunshine and breezy. traffic is moving fairly smoothly on 101 northbound and southbound. >> the dow jones is not up to 10,933. up close to 2%. just to remind you, to show you where we have been over the last three weeks, back on july 20th at the dow was at 12,007 the 24. by last friday we had dropped over 1000 points. yesterday the dow was down 520. the dow has been down 2000 points in three weeks. >> one of the most popular smart phone applications is coming to it x boxes near you. gabe slate explains in this morning's tech report. >> proved ninja, the popular smart phone game for the iphone and android phones that many of us are addicted to his coming to the big leagues. it is now available for the x box 360, x box connects motion control game. it is really >> you have two players began one screen. >> we can expect to see more games from phone applications to move up in the near future. freak

five other trading day in the dow jones/industrials history saw a steeper point drop. with congress and the white house deadlocked how to wake the sleepwalking u.s. economy, they may look again to federal reserve to act. the fed open market committee meets tomorrow. the dow jones/industrials average shed 1200 point since then. >> bret: many investors fleeing the stock market went to gold. price of gold eclipsed $1700 an ounce. gold was up $66 to settle at $1718 an ounce. the gold price doubled since the start of 2009. president obama today tried to walk the nervous investors from the brink with an early afternoon pep talk. it did not work. >> three days after being informed of a downgrade, the president spoke out. he didn't offer new or take much responsibility for the exploding debt. the plan for now is stay the course. >> despite the stocks diving as he spoke, president obama dismissed the downgrade and market gyrations that have a nation on edge. >> the markets will rise and fall. but this is the united states of america no matter what some agency may say, we've alw

markets join the rest of the global economy and the dow jones is hovering between two and three percent it's the first reaction to the great degree america's credit rating over the week the eurozone crisis is also speaking investors. sort of the story from new york things are heading south in the first minute of trading the dow opened down more than two hundred points within an hour it was down more than three point two percent now that number is going up and down and changing but clearly it indicates a climate of uncertainty in this climate of uncertainty isn't just here in the u.s. but it is all over the world and of course this is this comes after the. downgraded the u.s. credit from aaa to friday evening this is the first time in history the country of the world's largest economy was kicked out of this triple a club and to sum it up he says syria of course says that the u.s. government needs to get its fiscal house in order following all the drama surrounding the debt deal the credit agency believes that enough has not been done by u.s. lawmakers to to balance its books in addition

the dow jones has also notched up losses of around 5%. the markets are taking a beating, but have so far avoided panic. the dow jones index opened down 1.6%, and kept falling as trading continued. that is wall street's response to standard and poor's downgrading of the u.s. credit rating from aaa to aa plus. some economists are very critical of that decision. >> the markets were already very nervous. this was just another slap in the face to the global recovery. it made markets more nervous and spreading a web of panic. >> the other issue is eurozone debt. in a bid to calm markets, the ec be has begun buying bonds of heavily indebted eurozone countries. that caused yields on italian and spanish bonds to drop immediately. european stocks plunged on monday, with the dax closing down 5%. >> the falls had been expected after the u.s. credit rating downgrade at the end of last week. but there are other factors at play. our wall street correspdent has more. >> there was a lot of uncertainty going on. the s&p cut the aaa rating on one side, but

in britain, the ftse lost 3% of its value, and here in the u.s., the dow jones are -- the dow jones fell 300 points. >> it did not last long. the gains from tuesday's rally evaporated as u.s. stock markets followed europe's leloir. the catalyst -- fiers on at the new york stock exchange. for most of the day, the dow jones industrial was down 300 points. >> so much is based on psychology and human emotion, and people are pulling the trigger first and thinking about it. they are nervous and scared. >> with the federal reserve of's and tim -- with the federal reserve's dam outlook on the economy rattling wall street, it was concerns -- dim outlook on the economy rattling wall street, it was concerns over europe there really sent the market lower. there are concerns that french debt will be downgraded. the nation's second-largest bank became the focus of much anxiety. shares fell and close at 14 percent down for the day. >> it is a question of whether in three months' time it will be downgraded. there are other problems in the economy. i do think there is a major crisis in the euro zone. >>

the dow jones is now 32 points. we are back as the kron 4 morning news continues. been, who may open if if adhered dakhma of when an unborn civil been done danforth half fineman tough dot, then dick cotton i >> thousands of riders were stranded as bart stations were closed yesterday during yesterday's rush hour. about 50 activists gathered to protest a decision by bart to as they were trying to disrupt a planned protest sparked by the fatal shooting of 89 pulled in transient. police shut down powell street, montgomery street. here is video of those demonstrators. so phone service was not cut off and there were no arrests made. will tran is joining us live >> bart is catching a lot of heat with the the decision to cut off so phone service. however the protesters are catching heat this morning from writers. >> i do not think the best way to raise awareness for your cost is to interrupt people trying to get >> home> do you agree with bart cutting off so full- service yesterday? >> sometimes it has to be protected, but other people. >> a lot of people this morning were

. >>> as we reported earlier, gripped by fears of a new recession, thursday the dow jones fell more thans -- its ninth steepest decline ever. as sudden as the collapse may seem, it's actually been brewing for days. over the last 13 days, the dow lost more than 1,300 points, roughly 10.5%. an estimated $2 trillion in market value disappearing over two years. yesterday's problems were triggered in europe. markets there were hit by a massive sell-off sparked by concerns over the troubled economies of italy and spain. the global wave of jitters in selling hit asian markets this morning. as that wave hit here, all ten industry groups on the broader s&p fell. bank of america, citigroup, and hooup were among the stocks hitting new 52-week lows. despite posting stellar earnings, kraft and g.m. fell. gold briefly hit a record high then tumbled. oil fell even more than stocks, 6% or more than $5 a barrel. >>> and agitated investors were so desperate to get into bonds, they were willing to accept almost no return just to get their money into a safe spot. so how quickly were stocks dumped? bank of n

the dow jones industrial average lost more than 170 points. find more about the coming storm on our website, kwame holman has the details. kwame? >> holman: track hurricane irene's path using a special map with data from n.o.a.a., google and others. that's on the rundown blog. is eating healthy bad for your family's budget? our health unit examines the costs of good nutrition and offers strategies for smart shopping at the grocery store. plus we look at nasa research on how black holes can consume a star. watch an animation on our science page. all that and more is on our web site: newshour.pbs.org. ray. >> suarez: and that's the

. >> reporter: they have a scheduled meeting and the day after the dow jones industrial average dropped more than 600 points nasdaq dropped more than 170 points losing a large percent of its value. it is a mixed bag, at one point germany was down 5% and is down 1.5% now. although australia's market did close-up. some appear to be rebounding a little bit this morning and again the market will not open for another 30 minutes or so and if so we will let you know . >> many people are waiting to hear from the federal reserve this morning on what it will do to stop the country from sliding back into recession. the feds policy meeting is today coming up at 6:15 we will have a live report from our washington d.c. newsroom with the steps the feds are going to take in order to boost confidence so stay with us throughout the day. any time of day you can go to www.ktvu.com for the latest economic news. there are also tools to monitor the markets, just look for the wall street tab www.ktvu.com. >>> oakland police are continuing a manhunt for the gunman who killed a three-year- old boy. jade hernande

the dow jones up over 400 yesterday, now at what her 66 to 11,309. ver the last three weeks the dow has been off 1400 points. new this morning, major cuts could soon be coming for postal workers. the postal service is considering cutting as many as 120,000 jobs nationwide as they face their second year of losses. >> in pacifica, an autopsy and necropsy are set to to be done. a pregnant woman was found dead inside of her home. she suffered a traumatic injuries. her husband says he came home from work and found the people hovering over his wife. he ran into the backyard and called 911. police describe what happened next. >> the police arrived and clear the victim dead on the scene. the dog which had been contained in the backyard got out to end began approaching the officers. the officers shot and killed the dog on the scene. >> it is an unknown why the dog which was a male and i neutered attacked the woman. an officer will be present at the necropsy to see if something was medically wrong with the pit bull. we will be speaking with a legal analyst who

dow jones industrial down 5.8%. and in europe down 10%. and the german down over 12%. now, with s&p's downgrade, it adds a whole new level to the markets. a key concern for traders now is the currency market whether we'll see further selling of the dollar in favor of other major currencies including the yen. i know you just went through those numbers. but dollar/yen still trading at that 78 level. this morning we are seeing it dip back to the 77 level before moving back to up 78. now, overall analysts are divided over how markets would react to s&p's downgrade. but for the time being, we could see investors take moves as they wait to see how u.s. and european markets might react. stock markets will be opening in less than an hour. for now back to you in the studio. >> thanks very much. emily wang there at the tokyo stock exchange waiting for the markets to open. >>> in other news, private research firms expect japan's gross domestic product for the april to june period to slink f shrink for a third consecutive quarter. estimates japan's gdp will decline to 1.2% from th

the dow jones industrial average fell below 11,000 for the first time in months.ors lost a trillion in investsments. >>> they are searching for the gunmen who killed a three-year- old boy. the two men who were the intended targets were wounded and the toddler standing on the sidewalk with his family was killed. >>> bart service up and running again, it is back, a computer problem forced bart to call off service systemwide for several hours. bart is calling that move a precaution. >>> just within the last hour, scotland yard announced 225 people have now been arrested after three days of rioting. they are showing the after math, groups of young people have set buildings on fire and attacked police officers. early this morning british prime minister condemned the violence. >> these are sickening scenes. scenes of people looting vandalizing thieving robbing scenes of people attacking police officers and even attacking fire crews that try to put out fires. >> the rioting starting after the fatal police shooting of a man and now looters are taking advantage of the chao

the dow jones industrials is now off by a little less than 300 points. we've seen it today, the s & p is following it, the nasdaq at this point down 83 points. rick newman is the chief business correspondent for "u.s. news and world report." good to talk to you. to what do you attribute such intense nervousness on the part of investors? >> it's worth pointing out there's no big piece of bad news today. i think this is kind of a delayed reaction to a lot of bad news we have been getting over the last few weeks, and you're starting to hear a lot more concern that we may actually be going back into another recession, and some people say we might actually be in one right now. last week we saw numbers for growth so far this year went way down. they were much worse than people were expecting. >> almost stagnant. >> that's right. the phrase that you're hearing now among economists is stall speed. they're saying the u.s. economy is hitting stall speed which means it's not generating any momentum of its own for hiring to pick up, for companies to spend or for con

again, this is what the dow jones looked like. the sixth time this month it has moved 100 points in wind day yesterday, and again today. keep in mind that this month is not even over. >> it is fear and uncertainty. that is causing this volatility. with plenty of bad economic news experts say that there are positives! and when will those positives take hold? it is a question of is the economy going to get worse? corporate earnings are quite strong. companies, large corporations in particular are sitting on unprecedented amounts of cash. they have the resources to hire. banks have money is to amend. those activities have slowed. the question is do they start to pick up? that will be a question of confidence on consumers. consumers' confidence purchase goods and services and corporations also confidence. >>pam: there could be continued volatility next week as well. the government released information and help the economy is. a jobless and jump in california and the same at the unemployment rate went up 12% in the month of july. 11.8%

another tough drop on the dow jones industrial average. down 1/2 to 36 points as we look ahead to the ninth straight losing day in a row. whe >> welcome back to kron 4 morning news. we continue to track a hot spot in pleasanton. the ride continues to improve. we have just seen a big jump in speeds and a reduction in drive time which was 49 minutes from dublin to milpitas. that drive time is now down to 30 minutes. pigeon pass road is already backed up and would not make a good alternate route. >> new this morning pregnant women can add one more thing to the list of warnings on what not to do. a new study says expecting mothers should stay away from microwaves. they say that children born to women with high level exposures to electromagnetic fields are three times more likely that have babies that develop asthma. women with high levels of exposure are twice as likely to have a miscarriage as well the women with low level of exposure. other household appliances their rates a risk of exposure are vacuum cleaners and hair dryers. >> one person

the dow jones up, down. eventually closing 1162 points. down 4% for the week. >> police are sounding the of sudden increase in jewelry theft specifically snatch and grab of golden change. >>pam: gold-chained-- >> y bake of america is backing laying off more employees of the bank of america employees. >> in florida the woman's arrest. and action could trigg >>pam: the dow jones continued its tuesday's slide. 172 points lower at 10,000 b-17. the nasdaq took another tumble down 38 points 2what were the issues that led to investors to continue to lose confidence in the market? and what is ahead? dan kerman. >> the opening bell it began its climb and it continued to slide on friday. >> the fear is that the economy is not only slow but it could even get worse. what of the repercussions as it relates to increases in unemployment. other types of economic repercussions. >> mosaic financial partners say that the problems we face are so real the problem is that we could not recover is not reality. >> the fact is that history has shown that we will re

the dow jones is continuing with a big supply it. the dow was off 415 right now.nd back below the 11,000 mark. let's get an update on another developing story. the hostage standoff in the san rafael hotel. will tran has an update. >> it is minimal 24 hours as the suspect shot across 580. a couple of minutes ago i saw six-seven swat team members coming out with guns. the situation is being judged minute by minute. despite getting confirmation that there is a woman held in the room, according to the suspect he told authorities it is his girlfriend and that she is a hostage, not an accomplice. we do not know anything about her. we ask the police department about that but they said at this point they want to make sure that this ends peacefully. >> we will keep falling this developing story. 580 is backed open. we will be right back as the kron 4 morning news continues. >> this segmen >> debate tonight for hawker those vying to be san francisco's new mayor. there are 15 candidates running for san francisco mayor. across canada to date it will be held on october 6th. th

say look at the opening figures for the dow jones and the nasdaq down jones finally over eleven thousand points it's up almost two percent that's also a quite common situation after a massive drop that happened on monday with the dow jones well foreign office the nasdaq six point six percent. european markets of also slightly recovered we did see massive losses before during the day footsie is now how powerful percent the dax however is still down eight percent and gold has calmed down slightly from record highs it's at the seven hundred forty dollars silver is also coming down and so actually we percent loan others are. still looking mixed light sweet down thirty cents brant up eleven cents on uncertainty of course as to what will happen to the largest economy in the world largest consumer of crude oil and what will be happening to demand for crude oil therefore we have seen come down fifteen percent since the beginning of august. russian ruble is reflecting what's happening in the oil markets fall into a seven month low versus the dollar hovering around thirty ruble so it all just belo

. >> dow jones off just about 2.5%. nasdaq off over 3.5%. >> another downgrade this time lowering the rating of mortgage giants fannie mae and freddie mac and the ripple effect keeps coming. >> now about 552 points down, the dow jones industrial. >> another horrendous day. >> goes down, goes up. very unusual for us. >> president obama says washington knows how to solve the problem. that politicians need to put the good of the nation ahead of the good of their parties. here's more. >> 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 aaa country. >> well s&p doesn't see it that way. congressional leaders must appoint members to super committee of congress by a week from today. they will be looking for more ways to reduce the deficit. president obama said he'll be giving them ideas in the coming weeks. what else can he do? he wants to extend certain unemployment benefits and tax cuts. his former chair told cnn told john king the

the dow jones dropping more than 500 points. i want to get the latest readings on the futures right now which indicate where we will start today. dow futures up about 60 points right now. indicating a higher opening and we'll keep watching that. meantime here at home in the bay area the markets open. obviously they open at 6:30. allie rasmus is in san francisco with whether the new jobs report is making some investigators optimistic or pest mystic. >> reporter: you talked about it a lot. the big news the job report for july released. the numbers were better than what a lot of economists expected. the report shows employers u.s. employers ated 117,000 jobs in the month of july. that is about 30,000 more than what analysts had been predicting before the release. the unemployment rate nudged down a tenth of a percent. the jobs report is welcome news after a disappointing day on wall street yesterday. that was the frustration on the floor of the trading floor on the san francisco's office of the new york stock exchange. 9 dow dropped

. >> we're watching wall street, the dow jones is down 108.. the futures are dowredoubt at one point, 166. gary schlossberg for walls capital management is joining us. things are not as bad as it is today. >> same old same old in terms of what is driving it. >> we talked about how there was an unnamed bank in europe that had to go get money from the european central banks, 500 million, because it could not get a loan. there are 7000 of banks in europe. just one thing having to do this, is that fear or was that actually legitimate? >> the market is of course on edge. any news on like that, by the way a statement from the swedish official said the things there have to be on their toes. there is concern here. a front- page article on the wall street journal about of of your scrutinizing foreign banks. haugh hot >> what is using to take to calm investors? do we have to get the u.s. deal done in something in europe? some >> the first has to be done in europe. they have to get out in front of the problem. to keep falling behind. paul was a common tod

the dow jones/industrials industrial average was down by more than 500 points in the final half hour of trading. the dow closed off 513 points for the day. the s&p 500 plunged 60. nasdaq 137. liz claman has analysis. ed henry tells us the white house is getting ready for disappointing numbers on friday. we begin with fox news network correspondent rich edson on a tough day in the market. >> good evening. widespread losses in the market. investors rush to sell their stocks. analyst fail to agree on a single cull pit. ongoing economic concerns that recently collided to lead the dow jones/industrials average down 4-1/3%. the largest drop since 2008. down 10 of the last 11 trading days, 10.5% drop in the period. the lowest close since early december. investors see athemmic job and economic growth and european december crisis that won't quit. that is fresh off congressional round of bringmanship that left congress with the debt ceiling tuesday hours before the treasury department deadline. >> the real issue here is just how strong is the economy. the early data in the third quarter is it's

the dow jones is sinking fast. the dow has lost over 1000 points in the last two weeks.will be right back. >> which are continuing to watch the markets. the dow jones is down 275 points. 11,621. and the s&p is down 2.65% and the nasdaq is down 76 as it stands. all three are negative for the year. just a short time ago we spoke with david calloway about the markets. he said it is going to be a rough month. >> if you look at any charts and tables, it is just bad news all around. it will be a rocky august. >> another developing story, police are looking for a man who is reported to have exposed himself and his then until parking lot. it happened on monday. he exposed himself to a woman and her toddler in the parking lot in the 3500 block of south el camino royale. this happens on monday. he was driving a late 90s model four- door sedan with a dark blue or green exterior. he parked his car near the 28 year-old woman and the two year-old girl. when they stepped out of the car we are back with more than a couple of minutes. we have a lot of developing and breaking news. we are

all eyes on wall street the dow jones industrial is now up under and 36 points pics uprising new thetter than expected jobs report we saw the unemployment rate dropped to 9.1% >> new this morning nasa is getting what ready to launch a solar powered spaceship. a is going to take five years to get into jupiter. they are going to research jupiter. now we are looking at there might be water on mars diesel a figure like images show a bad day disappear in the winter months. >> we have video of syria you can see the tank rolling down the streets in that city of hotspots protesters have been the u.n. security council is condemning the attacks and calling for an end to the fighting we are continuing to watch wall street and we are watching whether with thick fog showing ups will be right back. ñçç". the dow jones is now all of hot as well as the s&p >> we are looking for the weekend things are looking up with >> the fog has thicken up along the golden gate bridge are a lead spots will be next. most of the bay area will be partly cloudy. the fog will return once again we will wake up and to ma

the dow jones opened slightly higher but fell almost 200 points shortly after the news. it's since gained much of that loss and is down 10 points. >> governors nationwide are bracing for big cuts. a recent study shows that federal aid accounts for more than 40% of california's revenue. with the current struggle to recover from a recession, some economists say any cuts will be painful. most experts say immediate cuts will probably hit transportation, education and environment problems. president obama is promising to protect what he can. >> we can't make it tougher for young people to go to college or ask scientists to give up on medical search because we couldn't close a tax shelter for the most fortunate among us. >> right now, it appears no funding will be cut but that could change as the debate plays out over the next few months. >>> president obama is employing congress to end the partial shutdown of the faa within the next few days. earlier this morning, ray lahood also slam congress for taking a vacation without a vote on the bill. thousands of nonessential faa emp

they followed the rest of the global economy following friday's downgrade of american credit the dow jones in fact has lost more than four percent artie's report myers joins us live from new york with the latest in a good to see you so president obama then unexpectedly i guess defended the u.s. economy but the big question is it too late to restore confidence what's the mood. well the mood right now is still very in secure after president obama u.s. president barack obama addressed the nation and the market continued going down as you mentioned the dow was down more than five hundred points since the markets opened down below eleven thousand the first time it's gone that low in ten months but regarding what the u.s. president did say he said he didn't need a credit agency to indicate that the u.s. needs a balanced long term approach to deficit to cut its deficit nor did he need a credit agency to indicate that the political gridlock in washington is damaging the u.s. president went on to say that washington is not lacking policy or plans what it's lacking is political will he said to many

the dow jones industrial average ended the day at 11,383. that is down 512 points from wednesday's close. the dow fell more than 500 points for the first time since december of 2008 when the layman shock triggered an economic slowdown. sell orders surged on the back of lingering worries about the u.s. economic slowdown. remarks by european central bank trichet suggesting concerns on the outlook weighed on market sentime sentiment. 500-point plunge results in a 4% loss with the dow ending in an eight-month low. to see how tokyo stocks are doing, we'll cross over. how are things kicking off today? good morning to you, bit of a negative start following from the losses on the dow with the nikkei down 190 points, the topics trading lower as well in the first few minutes of trading. the immediate market reaction following on from the u.s. session, the dow had its steepest one day loss in more than two and a half years. it looked like markets were in a bit of a panic and any economic data we're getting out is being seen as a negative. and all of thi

the dow jones industrial average gained more than 430 points. the federal reserve warned growth has been much slower than expected this year. it said it expects to keep a key interest rate near zero for two more years. and hundreds more police poured into streets across england to head off a fourth night of rioting. on the day that president obama traveled to dover air force base to pay private tribute and meet with the families of the 30 u.s. troops who dieded in a helicopter crash in afghanistan, we turn again to our honor roll of american service personnel killed in the iraq and afghanistan conflict. we add them as their deaths are made official and photographs become available. we add them as their deaths are made official and photographs become available. here, in silence, are 14 more. >> woodruff: and that's the newshour for tonight. on wednesday, we'll look at the recall elections in wisconsin, being watched nationally as a referendum on budget cuts. i'm judy woodruff. >> ifill: and i'm gwen ifill. we'll see you online, and again here tom

kron 4 morning this will take a break and be right back. >> the dow jones is up over 100 points in earlyrading, now turning negative. half of the dow was down to 11,384. thousands of verizon wireless workers are on strike and getting a warning from the retailer. 45,000 employees walked off of the job because of their benefits of verizon says they have until the end of the month or they could lose benefits completely. >> 813725833summerlike weather n morgan hill. right now to the mergers are starting to warm. by noon we will start to see some 90s. we will stay in the '70s and '80s and around the immediate bay. your afternoon high is warming to 87 degrees. we will stay in the mid-upper 70's in sunnyvale. >> as we continue to track a pretty good commute we are not looking at any hot spots. the san mateo bridge, we did have this all reported but it never turned into a hot spot. we have been enjoying a good ride all morning long. >> police are warning the public about a suspicious man. 29 year-old girls were approached by a man in your old group. he offered them a ride. he is described as a w

we see now the dow jones industrials down by 395 points.k at this, a real slip on the day and we've been sort of on a roller coaster ride since this morning up and down, up and down. brian sullivan is following things for us. brian, what's moving the markets? >> european fears. pretty much wiping out the gains from yesterday, contessa. here's the reality is that the european banks are doing terribly. their stocks have dropped in some cases 40% to 50% many the last four to six weeks. people say hey, why do we care so much about europe, we have our own problems here? the reality it's a global banking system. number two, combined european gdp is larger than the united states. we think of europe as small nation. collectively they're bigger. so if we see some sort of a financial crisis that needs into maybe a slowing down of the euro zone gdp that's going to hurt american companies. let's not forget caterpillar, boeing they sell a lot of goods to europe. they slow, we slow, that's what's happening in the market today. >> they're cheering this mo

in new york, the dow jones closed at 10,990. that is down 3.68. european stocks tumbled also, taking their cue from asian markets. put tokyo was down. shares in frankfurt plunged 6% on the day. it was the biggest one-day fall for the? in almost three years. >> traders in frankfurt were nervous as the dow began its steep descent. shares continued downhill after wall street opened lower. the dax ended the session almost 6%i lower, marking the biggest one-day drop in almost three years. renewed concerns about liquidity of the banking sector triggered thursday's sell-off. financial shares were among the leading losers. the mood remains grim. a sustained rebound is not in sight. >> all in all, a horrible day for european markets. here is a close-up of what was happening on the frankfurt stock exchange. >> concerns about the economy and concerns about the sovereignty of the banks. this gave an extremely explosive mixture, which caused the stock market to slump this thursday. nearly all the economic data coming in from the united states was weaker than e

he tells me that the dow jones pretty much has a season. november through may is the growing season. stocks going up. the rest of the year, they go down. kind of like there is a season to every purpose under heaven. i didn't expect to end this report with a quote from the bible. terry mcsweeney, abc7 news. >> thank you very much. >>> president obama is welcoming the latest unemployment report that says more jobs are needed to make up for the loss in the recession. and the president said even though the pace of job creation was the strongest since april, it needs to become self-sustaining where people are spending and companies are hiring. >> i want the american people and the partners around the world to know is this. we're going to get through this. things will get better. we're going to get there together. >> the president was speaking to an audience at the washington navy yard where he asks congress to pass series of tax credit for employees to hire unemployed veterans. >> another generation of young veterans earn the challenges don't en

the dow jones industrial average has taken a beating. we were down more than 400 points. off more than 3 percent, now, all three major indexes with a potential of correction territory. this has completely erased the gains this year. oil fell 6 percent today. it is now off, down to $86.63 a barrel amid concerns the showing economy will cut demand. u.s. job creation is weak as corporate profits are growing and consumer spending dropped. the latest numbers show u.s. incomes rising but only barely. what is happening overseas, though, is driving markets into critical territory. emergency response teams from the european central bank are scrambling to control the snowballing debt crisis in europe. greece, ireland, portugal, italy and spain facing dire financial problems that could require drastic measures to protect the global economy. >> mile investors believe europe can handle a greek default and additional debt problems from ireland and portugal, it would likely have more problems trying to swallow the debt problems of spain and italy but it appears those two countries will

i sun wall street dow jones industrial output 59 points right now take profits for the quarter they didhere i'll look for weaker sales dollar loss 77 the yester day up 67 today >> temperatures this afternoon which is have to get rid of fog. the fog delays asset s f o the delays are 50 minutes right now. san jose we see overcast conditions cloud cover as well 83 and partly cloudy we are going to warm up quite nicely. sunnyvale 83 degrees and partly cloudy san jose 83 and mostly sunny. the fog is what we are dealing with at this hour. not very many problems on your ride. this is a sad life you all the fog in our area. this is how we expect the fog to rollout for the day we will pull it back by noon on 1:00 and it will high along the coast. the rest of the bay it will warm up quite nicely. later on this afternoon and evening the fog will roll back in which temperatures will be in the '50s and '60s right now 60 degrees in san jose this afternoon temperatures will follow this pattern of '70s '80s in land in you will see '90s at i degree are to from yesterday. hotter temperatures down that so

dow jones industrial average has come back. it is at its lowest. right now down 187. this of course coming after the downgrade of our credit rating from aaa for the first time since 1917 and i tell you i just saw this morning, warren buffet saying, you know what the u.s. rating is still aaa no matter what the treasury says. a lot of people listen to what warren before you fit is -- buffet is saying after his comments. >>> you are watching what is happening in our commute, right? >>> that's right, this commute looks good, we have not downgraded it yet. traffic looks nice if you are driving to pittsburgh and it is the usual at antioch. present hill walnut couldn't tore and very slow approaching an earlier crash at the 680 interchange you can see i am going to do this and this traffic is doing very well. until you reach the grant line road area and then you will see slow traffic right there. if you want to get on the freeway somewhere after 680 do it if you have some shortcut, do it. this is the morning. this is highway 4, you can see some of the fog and i am helping mar

the dow jones is now down 450 points. >> continued to watch the wild swings on wall street. the dow is up for the 37 to 10,802. the s&p 500 is down 45. >> new this morning, the two suspects accused of beating bryan stow outside dodger stadium in march are due in court today. and about 15 minutes. at 8:30 a.m., luis sanchez and marvin norwood will be arraigned in los angeles. a judge will also hear requests to reduce their $500,000 bail. they are charged with the beating of 42 year-old bryan stow who suffered devastating brain injuries and remains in hospital in san francisco. police believe sanchez was the leader in the assaults. a fund- raiser for bryan stow was held in santa monica last night. there was comic relief and an option of sports memorabilia of organized by a group of police vans to help pay for hospital costs. >> more on the market's coming up after the break. we will be right back. >> a third day of wild swings on wall street. we spoke with financial expert robert black about what stock investors should keep an eye on. >> i love companies like philip morris, com

before we go, take a last look at the big board, the dow jones average. way down, 534 points right now. update you on all of the day's activities there at abc7 news at 4:00, 5:00, 6:00. >> below 11,000 mark and falling. thank you for joining us on abc7 news. >> "who wants to be a millionaire" is up next. >> have a great day.

now bob lewis and beg to report for all eyes are ons wall street the dow jones is off to lighter and 50. nasdaq future is off 50 this is a downgrade from s&p from our triple a rating to a double a-plus rating >> 20 1:00 a.m. we will have more in a couple minutes. it is breezy out there and cloudy we will be right back 9 baena 60 solid debate. 60 at the coastline. > >: 84 game series, the giants dropped the first three. then, look at this, he got hit with that. tim is ok. the giants are at least a half-game ahead. the oakland a's, 12.5 games out of first. they are not giving up. yes they joshed had a solo home run in the tenth inning. the oakland a's beat the tampa bay devil rays. hobart quebe >>: of wall street is a goal to be a really rough ride. " r hall european special bake and roast and they were blamed on muslim daily into spain to keep borrowing costs lower. investors are jittery about the downgrade. the u.s. should have a aaa credit rating. the s&p downgraded the u.s. credit from aaa to aa + on friday after the closing bell. this is the first chance to pour the markets to rea

real-time updates as the board continues to change throughout the morning >> this is wall street dow jones is on the rise there was a rise in the month of july and that is helping to send wall street higher. more numbers temperatures for your neighbor would >> a beautiful day on tap. we are expecting the coastal and fog around the bay area for the morning hours then it will get hot in land. a quick look outside at the visibility maps. the rest of the bay and the north bay and santa rosa and gets all little dicey. this is a look of current temperatures. this afternoon we will warm up this afternoon we are looking for 90-92 in morgan hill. in the north bay we are looking for 90s as well even downtown san francisco will be in the upper 60s lows '70s today this is a look of your seven day forecast and we will warm back up again throughout the week. >> i knew hotspot on the next lirnimitz freeway traffic s backing up we are seeing some of improvement on westbound 580 the bridges all look good i will have a complete check off traffic in my next report >> the kron 4 morning news continues and we