for now the nikkei down over 190 points. we'll see how that trades throughout the session. back to you in the studio. >> thanks a lot. the nikkei has plunged further down over 300 points or a loss of 3.4% so far this friday morning. the yen is at 79. dollar yen 79.05. back to the main news. >>> the japanese government is planning to buy up cesium tainted beef that has reached the distribution chain. the plan will include beef with radio active cesium at levels within the national safety limit. the agriculture ministry developed a plan in response to calls for more support by beef cattle farmers. under the plan the government will buy 3500 head of cattle which are suspected to have been fed rice straw containing cesium in excess of the safety limit. the cattle will be cinerated. farmers who are unable to ship their cattle due to restrictions will receive about $630 per head of cattle. the government will also provide financial support to prefectures that are buying up beef cattle which have become too old to ship due to the ban. august 6th marks the 66th anniversary of the at

nikkei down 2 1/2%. a brutal day, down more than 6% in south korea and on the chinese main land in shanghai, down 1%. let's take a look at europe where the banking stocks have been getting hit hard again. we'll start with the commodities for you. oil off down 2 3/4% at $80 a barrel. look at the european markets down by about 85 points. down 2% in paris and taking a hammering today, the dax index in frankfurt off 185 points or down more than 3%. the concerns about global growth hitting asian markets overnight. stocks finishing the day sharply lower. the fox business contributor joining us by fun from singapore on more of what's been a trading day that's truly been ugly. katie, good morning to you. >> good morning, ashley. yeah, it was another negative day in asia on the heels of that selloff on wall street, the worst performer as you were mentioned south korea. it's down 2.7% for the week and the week was shortened by a holiday on monday. some big exporters were hit hard today on fears of weakening demand.

but for now the nikkei down over 100 points. back to you. >> thanks a lot, ramin. that was our market reporter ramin mellegard at the tokyo stock exchange. >>> let's get a look at some other market figures now. that's all for now in business news. back to catherine. >> thanks very much, ai. >>> heir she ma university is to launch a study focusing on the health impact of exposure to low level radiation. the university has been providing medical care to atomic bomb survivors. the university set up a committee on tuesday to use its knowledge to help people affected by the fukushima nuclear accident. one of the main themes is the analysis of the impact of low level radiation exposure on human genes. the university says that when cumulative exposure reaches 100 millisieverts, the chances of developing cancer are said to rise by 0.5%. it said there is not enough data anywhere in the world about exposure to radiation below that level. >> translator: uncertainty about exposure to low-level radiation makes people uneasy. we hope to give them more dependable information by r

the nikkei down 5% since the beginning of the year. all the markets down around about the same, except australia, 13% down, sensitive to the global changes and global economic conditions because it is a strong commodity-based index. here with me in the studio to look at where things go from here, is mike koenen. if there's any similarities that you're seeing or echos that you're hearing from 2008, the lehman's collapse, the market panic. >> the only thing is people in asia are looking at the situation wondering why it is effecting us like it is this started off as a budget discussion in the united nations, raising the debt ceiling, and asian markets are selling off. if we go beyond that, we don't see similarities. we see the economies in this region in reasonable shape and at the moment it's more of a crisis of confidence in the equity markets as opposed to a crisis of the financial system, which is what we were facing back in 2008 and a global economic slump, which we are not there yet. >> you are saying it's more about sentiment than

down as much as 5% and 6% today. they paired major losses earlier in the day. the nikkei sunk nearly 2%, making today its fourth straight day of falls, crossing a psychological 9000 point marker. hasn't been this slow since mid march. honda was down the most by nearly 3%. here in hong kong, the hang seng is down after pulling back from a low not hit since 2011. bank stocks fell by hsbc, bank of communications, in the past 35, 40 minutes, major sell-off, fell 6.5% on the day, the hang song fell by 3.5%. the shanghai composite flirted with 6.5%, most analysts thought it would be 6.4% and inflation fears are going to stay front and center in the national dialogue in china. australia bucked the trend around the region, the asx gained moderately, ended up 1.2%, miners and bankers, bhp billiton and rio tinto shook it up and ended up 1%. >>> a lot of big markets are pulled up into the bear territory. >> that's right. some of the asia's if you will biggest dragons have turned into some of asia's biggest bears. china, hong kong and south korea are now officially in this grouping,

the nikkei down just a fraction. hong kong, up just a fraction. shanghai, more of a rally there. is a general consensus that the interest rate movement in china might be down. australia, finishing the week on a high note. had a good week, all in all, australia. the s&p closed higher for the week. >> looking at how the trading session could progress when things get started on wall street. the u.s. markets, at the moment, look set for a basically lower open when trading begins, as you can see there. the futures indicate we could see the s&p 500, the broader index, falling by about 0.8%. similar situation for the dow. but remember, some of the markets have been up and down to the tune of inexcess of 4%, from one day to the next this week. it is a very difficult market to call. and of course, volatility does reign supreme, andrew. >> i'm glad you say that, nina. take a look at this. this does say it all. this takes in the movement of the dow, from last thursday, to yesterday, this thursday. the last trading week. we start last thursday. down 513 points, 4.3%. that came after there was

in asia, the hang seng is down 4% and the nikkei down a little more than 1%. today treasury secretary timothy geithner spoke exclusively to nbc about the s&p's decision to downgrade the u.s. credit rating. >> i think s&p has shown really terrible judgment, and they have handled themselves very poorly and shown a stunning lack of knowledge about u.s. budget math. they drew exactly the wrong conclusion. >> reporter: no matter, the decision has created tensions in markets across the globe. and the president, who returned from camp david this afternoon, faces a huge task as a brewing debt crisis in europe compounds the situation. former fed chairman alan greenspan had this prediction. >> the initial reaction in my judgment is going to be negative. what i think the s&p thing did was to hit a nerve that there is something basically bad going on, and it's hit the self-esteem of the united states, the psyche. >> reporter: s&p officials warned of a one in three chance of another downgrade next year if america's financial position gets worse, or political gridlock becom

the nikkei was down 1.7%. in hong kong, the hang seng dropped 5.7% with a late sell- off in the day. european stocks went up about 1% at the opening. but then suffered a sharp downturn. as for u.s. index futures, the trading seemed to indicate that wall street stocks would dip a bit. monday again the worst for the u.s. market in nearly three years. the dow falling 5.6%. the s&p 500 dropped 6.7%. now, we spoke with different folks in the area who are holding onto some hope. >> my sister told me, don't move my money. long-term investment, just wait. >> reporter: are you anxious, worried? >> very worried. but she said be optimistic. >> that's usually the best time to look at areas that maybe you haven't looked at before but now look attractive given the fact that they are 10 to 20% cheaper than two weeks ago. >> reporter: what investors are looking to now is a is a federal reserve meeting this morning just after 11:00 our time. with the very latest update on its monetary policy. there is some hope that the fed ma

hong kong's hang seng down 4% t nikkei down 1.3%. here in the united states, futures pointing to losses on wall street, after that comes at 6:30 our time. the leading financial experts fighting back in an exclusive nbc interview, treasury secretary tim geithner blasted the s&p decision. >> i think s&p's shown really terrible judgment and they handled themselves poorly and shown a stunning lack of knowledge about basic fiscal math and draw the ron conclusion. >> we'll have more on the downgrade, what it means coming up in a live report from cnbc world headquarters in 10 minutes. this morning it will be officiala after weeks finally a decision from san francisco mayor ed lee. after promising he wouldn't, he will run in the upcoming election. lee tells the chronicle, quote, i changed my mind. i know it might be hard for people to understand that change, but my change of mind seeking this office has everything to do with wanting what's best for the city. we hill list himself at the city's department of elections but questions linger abou

nikkei. it was down 5%. took back some of the losses to

the nikkei down by about .5%. also reacting to weaker than expected numbers from dell and a poor outlook on the dell front. so many electronics markets in japan. the shanghai composite down about a third of .1%. the australia market getting a bit of a boost by 1.3%. take a look at europe which is the epicenter of the global economic concerns. as you see there, the ftse down .75%, the xetra dax down by .65%. there has been some buying, a little bit later. quickly to the u.s. now. we'll see what the u.s. markets were doing. they had another down day. the dow down about two-thirds of 1%. still concerns about the state of the u.s. economy. of course, the eurozone problems, nina. that meeting between nicolas sarkozy and angela merkel was seen as a crucial meeting particularly as it was planned at the height of the volatility last week. so people really were looking for answers, weren't they? >> it was billed as krun ch time for the eurozone, andrew. the three proposals that merkel and sarkozy has put forward to try to s

five dollars per barrel asian markets have nosedive tracking the losses on wall street's trans nikkei down three point seven percent the slowest senses post growth play punk in large energy companies and financial firms among the worst. romer's oil from impacts down over seven percent miners have also been hard hit hong kong's hang seng that is over five percent in the red with exporters among the main losers now europe stocks long there in early trading on friday standing in global sell off amid mounting borys over economic growth the pussy is losing almost three percent at the start of the trading session and the dax is down nearly four percent given the markets are plunging into the red joining the global rout over the r.t.s. and isaac's shooting over three percent in early trading the r.t.s. is well into the fourth day the longest losing streak since june twentieth now let's have a look at something individual movers on them isaac's energy majors among the worst performers on local prices gas problem is losing over four percent this hour financial stocks are also under pressure with th

the nikkei down two-thirds, hong kong down by 1%. the kospi down 4%. it did close higher.it of a wild day in australia. and you just cannot say with any certainly what's going to happen with these markets tomorrow, nina. >> you certainly can't. you can't even say with any certain certainty, andrew, what's going to happen during the course of a single trading day because many have been familiar that european markets start higher and the moment things turn toward a precipitous decline. wall street for the moment might be looking to swing the pendulum the other way against futures economy, about 1% after, of course, another worldrise downward on wednesday. alison kosik was there, and she gives us this report. >> another brutal session on wall street wednesday. the down plunged 519 points closing at 10,719. the nasdaq dropped 4% and the s&p 500 fell 400. in the last six days we even seen the dow trumbull 265 points, 512 points, 630 points and 519 today. the optimism from tuesday's big rally was nowhere to be found. the investors got a chance to reexamine it yesterday about the

the nikkei down 2%. all the key markets there. shanghai falling more than 3. 3..77%. has been a catch-up going on. the strategists now in bad territory. down more than 20% from its high in the current cycle so australia certainly feeling the brunt of the selling globally as the concerns about the site of the global economy and still the euro debt crisis concerns play havoc, certainly in this part of the world, charles. >> okay. we're going to return to a key partet of the main story, that is moves by european central bank to buy up government bonds. by the way, the overall stock market index numbers, we are seeing strong buying of spanish and italian commercial banks. well, the ecb's announcement into the european bond market bond market to stop deals from spanish and tlain bonds from rising. with more on what might follow we're joined again by nina dos santos. investors like it. what is going on? >> this is a complicate thing, isn't it, charles? on the one hand the ecb in a statement didn't specifically mention those two key words, italy and spain but it did signal th

the nikkei down over 1%. hong kong finishing up by a half percent. shanghai going the other way.d the bse in mumbai, up 0.75%. what can we expect in the week ahead? mark, good to have you back. nothing has changed between now and friday, very difficult to read, you expect more volatility? >> i think so. but investors are getting used to the volatility, and we are bracing for manufacturing data this week out of europe. but i think investors are climatizing. >> so what are they saying? what are the market numbers telling you about where they think the economic performance of europe and the u.s. is going to be? is it a full recession they're pricing in now? >> not just yet. the slowdown is seen as more than a mid cycle slowdown, it's structurally based because of the debt that's incumbering many of these markets, but much more focus on earnings. in asia we are significantly impacted by global sentiment and the global economy, in previous slowdowns earning have been hammered in this region. >> there's a clear effect about what happens in europe and the u.s. will effect earnings here.

japan, because the strength of the yen as well as a bigger than expected drop in exports pulled the nikkei down gets stronger, exporter share prices take a hit. toshiba and hitachi, down 4 to 4.5%. the hang seng was down 1.3%. it had been trading flat for most of the day but it fell in the last few hours of trading. the top gainer is the hong kong exchanges and clearing. it closed up more than .5%. this is the holding company for the hong kong stock exchange itself. it's in joint venture talks with the shanghai and the shengjen exchanges. the shanghai composite also down 1.6%, the biggest loser of all asian markets today. new annual housing data showed housing prices rose 4.3%. the composite itself has fallen more than 9% as anti-inflation measures have hurt growth in stocks that list on this board. the asx 200 was down 1.22%. i mentioned the $10 billion hostile bid for foster's. resource-related stocks fell on slows of growth. bhp billotin and rio tinto. >>> investors weighed the latest set of corporate results against the economic and debt concerns. alison kosik has more from the new york sto

nikkei down 1%, hang seng down by 2%, shanghai and australia had a downgrade of sovereign debt for japan by moody's. they're worried about the weak economic outlook and japan's ability to pay down its massive debt. also had some big profit numbers out. none bigger than bhp billiton, the world's biggest diversified mining house based in australia and listed in london as well. it posted an 86% rise in full-year net profits to more than $23 billion. prices for copper, iron ore, coal reaching all time highs on increasing demand from china. iron ore particularly and coal the big contributors for the bh p. profits. certainly a very strong result from the company that used to be known as the big australian. that stock price was up 1% last time i looked in london trade. >> certainly is. let's have a look at another story making headlines in the business world. the former head of the imf says he's thankful his nightmare is now over. dominique strauss-kahn emerge friday a new york courthouse a free man after a judge dismissed all sexual assault charges against him. prosecutors asked for the dismis

down. the nikkei is down and the hang sang jumped 2.7%. >>> more fallout from the economy declining state tax revenues may trigger automatic spending cuts. california collected $539 million less in july than the budget projected while income tax was up. sales and corporate taxes were down. the budget governor jerry brown signed in june relies on a $4 billion tax wind fall. if tax revenues are less than $2 billion, public schools could be in session seven fewer days dropping the school year from where it was three years ago at 180 days to just 168. >> are you going to cut the civil war? are you cutting t through c? what are you going to trim? >> unless revenues increase, the cs and other systems face $100 million in budget cuts each. >> the san francisco district attorney filed formal charges against a man accused of being drunk when he plowed into a nine-year-old tourist walking in a crosswalk. he will appear in court to answer felony drunk driving and hit-and-run charges. vargas is free on bail after being captured by hayward police on thursday night. witnesses say he sped away from mission

the nikkei down 2.5%. hong kong down more than 3%. closed in this region. shanghai down by just under 1%. the australian market taking another big hit. australia very sensitive to expectations of global economic growth because it's so heavy staffed with resources, mining companies as you see there. not a lot of confidence about the state of the global economy if you look at the s&p numbers there, nina. >> it really is all about the economy and not at all about corporate earnings. wall street got socked on thursday as renewed concerns about the united states and other nation's economies once again sent major indices plunging and sent commodities like gold to record highs. from new york, alison kosik takes a look at what we can expect in the future. >> the united states and europe are dangerously close to recession. that's the headline from a note released thursday by morgan stanley. the investment bank says the u.s. is at risk of experiencing two consecutive quarters of negative growth over the next six to 12 months. morgan stanley wen

japan's nikkei opened down 2.1%, hong kong's hang seng sled 2.4%. at one point south korean stocks tumbled more than 6%. analysts say there's still room to fall. >> we think that the full implications of the slowdown in growth in developed markets is not yet fully reflected. >> reporter: a barrage of bad economic reports collided with fresh worries about the health of european banks triggered a global sell-off in stocks. european markets suffered huge losses on thursday here in london, leading shares lost $100 billion in one day. european banks are taking the biggest hammering, plagued by continuing fears italy and spain may not be able to pay back the huge debts they owe. european traders say it's crucial governments start finding real ways to solve the debt crisis. >> it makes no sense for financial markets just to have talking politicians. we need more long lasting solutions. >> for now analysts say the only thing that's predictable about global markets is that they'll remain unpredictable. investors are looking for a safe haven. they're snapping

the nikkei closing down 1.7%. so while mott a good day on asian markets today at least some relief at the end of what was a pretty tense day. tanya? >> atiko, so slight good news there. thank you veve much. >>> and with the faa collecting airline ticket taxes again, several major airlines are rolling back temporary price hikes. fares went up recently while the faa was shut down. southwest, jetblue and american were among the airlines to end the temporary price hikes. however, customers are not likely to notice the difference. >>> so w wt's going on? with the markets going down the tubes here's one solution, get shaggy. men are taking on the rugged look as the economy gets in deeper trouble. sales of men's hairstyling products are down 15% while everyday fragrances are down 10%. hugh lawrie, brad pitt and sack gal if i knack cast are examples of those letting it grow. >>> a popular singer is attacked on the street putting him in the hospital. >>> the first video of two brothers and their sister on the run after sho

japan's nikkei down 2.5%.g kong's hang seng falling 3%, the biggest drop in europe the dax in germany losing 3.3%. fears of recession of course have spread worldwide. >> it makes no sense for financial markets just to have talking politicians. we need more long-lasting solutions. >> reporter: yesterday was another triple-digit plunge on wall street. the dow fell 3.7%. that's a loss of nearly 420 points. the nasdaq dropped over 5%, while the s&p lost 4.5%. now, back live just off montgomery and market at the fidelity investment ticker it was allred yesterday and those are some of the numbers. today's major futures have taken a tumble between 1 1/2 to 2% ahead of the opening bell in an hour? >> so grace, people are bracing for yet another day of big losses. >> it's been a bloodbath. let's hope for better. stephanie chuang in san francisco, thank you. >>> thieves are seeing it as a gold rush. police are warning it's a crime spree. record gold prices are now drawing the wrong kind of attention for some women. anne

effects the japanese markets and the nikkei gone down. i have to be concerned about where -- how that money is doing. for some vestors that keeps them from jumping. >> doesn't mean i would never get in at a lower point. i am scared right now. >> reporter: investors have reasons to feel that way, a study shows only 5 companies went up in value. robert handa, ktvu channel 2 news. >>> gold prices sored to record levels as investors reacted to the unternty. -- uncertainty. gold finished at $1,719 an ounce. silver was also up, $40 an ounce. investors consider pressures medals a safe havep. you could find continuing coverage on www.ktvu.com, click on the wall street tab located on the home page. >> the remains of the 30 americans killed over the weekend in afghanistan will be returned to the u.s. tomorrow. 22 navy seals were among those kills when they shot down by enemy fire in the wardak province of afghanistan. they were called in to assist army leaders caught in on a fire -- fired on by insurgents using a rocket-propelled grenade. >>> troop

we had the nikkei down on the week by some 5.4%. the hang seng down 6.7%.hese are two of the biggest bench marks over here what is important about the japanese market, it's so exposed to what's happening globally. it was fears about a global economic slump that pulled markets back, with people pushing this word around "correction" that we should have seen this coming. people have been concerned about the economy for some time and whether or not would get a bad u.s. jobs number, and as it turned out it was a bit of a surprise, or a u.s. downgrade in debt. we have to be worried about the global economy. that concern hasn't gone away. the down side potential is still very much there for these markets. it was a big shake up when we got this downgrade. people have to take that into consideration when they walk on to those trading floors today and have to start moving their money based on that mostly people want to keep their money where it's safe. they are taking it out of this market and wanting to put it in somewhere safe. where has that been? where was the bi

. >> most of european markets did okay, the nikkei down a little but that's good news after it went down up down up. today should be a down day but hopefully that won't trend that way. and don't forget tomorrow or actually tonight at 5:00, 49ers first preseason game. they are taking on the saints. dennis o'donnell and his crew are getting ready. our director mike bruce is out there, excited. >> new stadium, right? >> well, they have kind of fixed the superdome up in new orleans. that starts at 5:00 tonight. we hope you join us for that. >> so happy friday. thanks for joining us today

futures pointed slight did i li down and then they turned around. asian markets were mixed. nikkei closed down. hang seng index and hong kong ended up a fraction higher. stock markets in london and paris are trading higher. we'll take you live to the new york stock exchange coming up in the next hour and see how our stock market is opening up. >> on monday, many kids will be returning to school from summer vacation. yesterday stated officials held a meeting to remind students and parents they are continuing their crackdown on chronic absenteeism. the superintendent says truancy can begin at young age. they isn't a thousand letters to parents and guardians of students through kindergarten and 2nd grade who had a high rate of absenteeism during the last school year. letter reminds them it is illegal to keep children out of school. >> bigger picture is not encouraging, only three-quarters of california high school seniors graduated in 2010. system known as cal pass, show 74.4% that started high school dropped out while 18.2% of students dropped out. of the latter group, english learne

nikkei down over 180 points or 2.1% in early morning trading.8% and korea's coffee index plummeted 4.7%. global markets plunging amid concerns of a second u.s. recession. and renewed worries over the financial health of europe's banks. germany index following 6%. having major effect on telecommunication companies in the u.s.. hewlett-packard will discontinue its smartphone and certain other products. >> greta: will special interest groups muscle into the super community and get deals you will never get? know one wants to get cut. there could be and will be lots of lobbying. joining us liz mcdonnell. liz, how do we determine who might have a special deal, special access? what is the money story? >> money story came from a nonpartisan watchdog group that looked at information on special interests donations to the 12 members of the super debt committee. they based that information that came out of the center for responsive politics based on government filings. what we see is nearly 65 million dollars in political action committee money went to the

the nikkei went down. this was a four and a half month low. >> translator: i was impressed with the recovery in the late trading hours. but we still need to watch. >> he says they will closely watch the market moves. now let's look at some market figures. >>> japan's prime minister naoto kan is likely to step down this month as they are are expected to pass two bills as he passes as his resignation. executives of me main opposition liberal democratic party and naoto agreed on tuesday to vote for a bill to issue deficit-covering bonds. this came after the governing democratic party agreed to review a waiver program and subsidies for farmers. the opposition parties are also likely to vote for another bill aimed at promoting renewable energy. kan also made progress with his pet projects. the government will revise its energy policy to reduce dependence on nuclear power. it's also working to desperate the nuclear agency from the economy agency. kan is said to be preparing to announce his resignation soon after

the nikkei went down. this was a four and a half month low. >> translator: i was impressed with the recovery in the late trading hours. but we still need to watch. >> he says they will closely watch the market moves. now let's look at some market figures. >>> japan's prime minister naoto kan is likely to step down this month as they are are expected to pass two bills as he passes as his resignation. executives of me main opposition liberal democratic party and naoto agreed on tuesday to vote for a bill to issue deficit-covering bonds. this came after the governing democratic party agreed to review a waiver program and subsidies for farmers. the opposition parties are also likely to vote for another bill aimed at promoting renewable energy. kan also made progress with his pet projects. the government will revise its energy policy to reduce dependence on nuclear power. it's also working to desperate the nuclear agency from the economy agency. kan is said to be preparing to announce his resignation soon after

. >> the nikkei down 2% now on opening. robert, i know you say look at unemployment more than the dow. but when people's retirements are tied up in this roller coaster and every day it's down, what should people be thinking? >> anderson, obviously right now we have a jobs and wages and growth crisis. and not a debt crisis. and until we actually get more spending, whether it's individuals and businesses or even in the short-term government, we're not going to have enough aggregate demand to get people back to work and get the market moving and get economic growth actually back in force. and that's not just in the united states, it's also in europe, it's also increasingly around the world. >> steven, i saw you say earlier today there was loss of confidence in the united states, particularly in president obama's ability to lead. but doesn't congress also -- there's a lot of people that don't have much confidence in congress either in their ability to govern. >> yeah, you're right about that, anderson. but look, the people look

down, cbs news, washington. >>> stock markets are not reacting well. the nikkei was down 1.2% today. other major markets in asia, australia and europe also fell. here in the u.s., the dow futures are off .3%. the dow, nasdaq and s&p all finished yesterday slightly down. >>> in other news a soldier from daly city has been killed in afghanistan. the defense department says army sergeant william gross- paniagua was kill sunday. his vehicle was hit by a roadside bomb. friends and family are sharing fond memories. >> he was a nice respectful person and he is really going to be missed. there's not 30 minutes that pass by that we don't start crying. i don't want you to start crying again. >> gross-paniagua previously served in iraq. friends say he often would not tell his mother he was come home just so he could see her reaction when she opened the door. he was planning on surprising his mother again in january. army sergeant william gross- paniagua was 28. >>> a 9-year-old san jose boy is being called a hero this morning. sean sing jumped into a swimming pool on south kylie boulevard yeste

taking a look at overseas trading this morning, in tokyo the nikkei went down 91 points. in hong kong the hang seng b=dded 86. europe's debt and shaky u.s. data could make for more market volatility this week as investors wait on word from the fed. federal reserve chairman ben bernanke will be in wyoming for the annual jackson hole symposium where wall street will be listening to what he has to say about the struggling economy and what, if anything, the fed plans to do about it. markets will also keep an eye on europe, where finance ministers of france and germany meet tomorrow to hammer out a plan to address europe's sovereign debt crisis. >>> elsewhere, crude prices are expected to fall amid the developments in libya. >>> back at home, traders will be tuned in to friday's revisedx reading on this spring's gross ó domestic product. the economy is expected to show growth at an anemic 1.3%. updates on the housing market this week will include sales of new homes in july and the prices on those homes. the latest on consumer sentiment for august is also ahead. along with earn

the japanese nikkei is down about 2%, the cosby hitting its lowest in several years. -- the kospi is hitting its lowest in several years. bank shares tumbled on concerns of the eurozone debt, what economic concerns remain about the u.s. economy. shares failed to recover, with about ending 3.5% lower. investors are flocking to safe havens, so gold has hit another record high in asian trade. >>> thousands are gathering in delhi to witness the start of a 15-day hunger strike by the anti-corruption campaigner hassare, who is due to make his way to an open space where the fast will take place. he is hoping to force the indian government to strengthen an anti-corruption deal that he says is too weak. he is an anti-corruption campaigner, and he joins me now from delhi. your one of the organizers behind this campaign. what are the group's immediate plans now that hassare will join the protest? >> we will be asking the government to bring the strong anti-corruption bill to the parliament. we seek support and are expecting huge numbers of people to support the campaign. >> tell us, do you have

. >> the nikkei down 2% on opening. robert, i know you say look at unemployment more than you look at the dow. but when people's retirements are tied up in this roller coaster and every day it's up and down hundreds of points, what should people be thinking? >> anderson, obviously right now we have a jobs and wages and growth crisis. and not a debt crisis. and until we actually get more spending, whether it's individuals and businesses or even in the short term, government, we won't have enough aggregate demand to get people back to work and get the market moving and get economic growth actually back in force. that's not just in the united states, it's also in europe, it's also increasingly around the world. >> steven, i saw you say earlier today there's a lot of confidence in the united states particularly in president obama's ability to lead. but doesn't congress also -- i mean, there's a lot of people don't have much confidence in congress, either, in their ability to govern. >> yeah. you're right about that, anderso

asian markets fell over 2% earlier on today, 2.2% was the mean for the lacks of the hang seng and nikkei was down by a similar margin. they were down again. after having rallied. the london market, blue chips down 1 1/2%. germany, the market down 2.1% but the future of the u.s. indices are showing more negativity. the dow futures showing 2.1% lower and the longer context the dow is down 10% in the last two weeks. >> so germany down 2.1%, the futures down here. how much of this, steve, do you think is because of the s&p downgrade, the white house has attacked the s&p saying this is meaningless and got their math wrong but how is everyone reacting. >> we must not forget the s&p warned us back in april they could do this. the market was well prepared for what they were about to do regardless of the politics back in washington. the fact remains though this isn't just the u.s. debt crisis. it's also about what is going on in europe. not about greece or ireland but about the center, italy, which are the third and fourth largest economies in europe. not only the u.s. concerns but what we've got here in

in tokyo the nikkei went down 91. the hang seng added 86. shaky u.s. data could make for more market volatility this week as investors await word from the fed. the federal reserve chairman ben bernanke will be in why onyomin omming for the annual jackson hole symposium listening to has he has to say about the struggling economy and what, if anything, the fed plans to do about it. markets will also keep an eye on europe where finance ministers of france and germany meet tomorrow to hammer out a plan to address europe's sovereign debt crisis. elsewhere, crude prices are expected to fall amid developments in libya. back at home, traders tuned into friday's revised reading on this spring's gross domestic product. the economy is expected to show growth as an anemic 1.3%. >>> updates on the housing market this week will include sales of new homes in july and prices on those homes. the latest on consumer sentiment for august is also ahead along with earnings from retail heavy hitters williams-sonoma, american eagle and upscale jeweler tiffany's. >>> rumors ve

it plunged 3.3 at the open but come back a little now down 23 in 3 percent. nikkei and japan down one and a third. still 1.6 percent. hong kong and shanghai trading little over half an hour now. hang seng under performing the region. it is down more than 3 percent at the start. composite index is down about 1 percent. so i think the surprise is that it is not worse than it is. we are seeing lots of numbers. we still have a lot of trading to go in the days today gerri. >> what are people talking about traders? investment advisors. are they thinking we are over playing it? it is not that important or do they just expect it to happen? >> some of it has been priced in. a lot of it the downgrade was well telegraphed. when it happened people knew it was going to happen. some of it has been priced in. we did give it a vote of confidence to some extent from japan's finance minister saying the confidence is unshaken. japan the second largest holder in u.s. treasuries than china. they have faith in the u.s. bond market and they are not looking to move out of that any time soo

down 1.4%. japan's nikkei index is down 1.9%. another freefall on wall street today. the dow jones lost 3.7%, dropping 417 points during trading. it closed at 10,990. the s&p 500 dropped 4.4%. >>> a south bay community will soon regain a piece of history. watson park was closed after finding dangerous toxins in the soil six years ago. next week the gates will reopen. the play ground, as you see, already opened a month ago. in just a few days, the fence also come down and the neighborhood will once again be able to enjoy its park. >> they've been waiting for this for a couple of years. it's a good feeling it's done. >> i had nowhere to play. i would stay home. >> the watson park project cost taxpayers $15 million. >>> we're still monitoring our breaking news out of japan. a 6. 5 earthquake before the top of the hour. it happened 70 miles east of fukushima, that nuclear power plant there. there are no video or pictures in just yet. we'll bring you updates as the story develops. a 6. 5 earthquake. >>> up next, steal it and deal it. it's not a new nbc game show, but somet

you can see just about all of them closed down overnight. japan's nikkeilosed down more than 200 points. hong kong lost more than 3% of its value. analysts expect the market here in the u.s. not to fair much better today. they expect to respond to more bad news on the jobs front. as you mentioned bank of america the largest bank in the u.s. plans to cut 3500 jobs this quarter and there are reports that it could eliminate as many as 10,000 jobs in the coming months. bank of america stock is down more than 50% since january. along with the news about job cuts there has also been negative news this week about inflation and the price of goods going up. analysts say in a report today that retailers are going to raise prices an average of 10% across the board for back to school supplies. and they are supposed to be doing that to offset increased cost in supplies and labor. and again the market just opened a couple minutes ago. we will continue to keep an eye on it this morning. live in san francisco allie rasmus ktvu channel 2 news. >>> time now 6:32. some big c

south korea's kospi suffered the biggest hit down more than 6%. japan's nikkei was down 2.5%. hong kong's hang seng falling 3%. in europe, no good news there either unfortunately. the biggest drop was the dax in germany losing 3.3%. the markets there falling near 2-year lows on worries over the financial health of the banking system. >> it's not enough for financial markets to just have talking politicians. we need more a long lasting solution. >> reporter: back here live, off montgomery and market. these numbers again, yesterday's numbers, in the red as we expected. actually don't see the big board now. it was last down 100 points in less than 90 seconds. we know to expect wild swings. that's been the story the last couple of weeks. the week earlier this week, it did stabilize it seemed for a little bit. of course, yesterday that dashed all hopes. so we'll have to see how it ends today, grace. we're crossing our fingers, of course. >> doesn't look good, down 90 right now. stephanie chuang in san francisco, thank you for the latest. >>> time now 6:33. thieves are seeing it as

sweden is like down trading at eighty four dollars per barrel while brant is gaining sixty seconds as our. markets in asia nosedive tracting tracking the losses on wall street japan's nikkei finished down three point seven percent its lowest since the first post earthquake plunge in march energy companies and financial firms were among the worst performers with oil from impacts losing over seven percent miners have also been hard hit hong kong's hang seng finished four point two percent in the red while exporters among the main losers. stocks in europe are on the downside as well extending a global sell off all sectors are trading deep in the red with the banks among the worst performers for bank of scotland's group is now losing eight percent having plunged as much as twenty one percent early in the day that's up to the banks wong to the second quarter looks. a similar picture in russia the us has is down three and a half percent and otherwise excusing two and a half percent self-service our the russian markets have now told me here let's have a look at some individual movers on the wires six energy majors among the worst performers on the low crude prices gas from is sh

nikkei was down .2 of percentage point and hang seng was up. bank stocks in europe recovered. markets were higher in frankfurt and patient's. dow futures are pointing towards a positive open. >>> california cities battling sacramento. they have to pay property tax revenue to the state for face the lot of redevelopment agencies. they are hearing a lawsuit claiming the measure is unconstitutional. chuck reed says the suit is to help the city of san jose and the people that live there. >> san jose is one of the named plaintiffs because we are directly injured by the state's action. money is being taken from the redevelopment agency is going to be taken out to services to residents in san jose. >> courted says it will decide by january what the outcome will be. governor brown is counting on the added tax revenue to balance the state's budget. >> most bay area transit agencies are seeing a steady increase in riders because of higher costs. media partner san jose mercury news caltrain ridership is up nearly 12 of. bart has seen an increase of 8% and valley transportation authority h

tokyo, the nikkei closed down 3.72%. in hong kong the hang seng closed down as much as 5%. and the big concern out here for japanese markets is that surging yen, the japanese currency inching up to a record high. earlier this week that prompted the japanese government to step in and intervene yesterday. we saw temporary relief but it is going back up today and that is really bad news for exporters in what is a very export-driven economy. daniel? >> akiko, what does this mean for u.s. consumers? >> reporter: well, it's going to make product that is are made in japan a lot more expensive for americans to buy. you know, you think of a tv that cost 1,200 a month ago, well, now you'll have to pay an extra $100. the overall picture, the yen has surged 10% or more than 10% so that's a huge increase and it's no wonder the exporters out here in japan are struggling so much. >> akiko fujita, live in tokyo, thank you. >>> the stock sell-off is sending shock waves into other markets. not all bad news for consumers. investors were so spooked the price of gold dropped more than $7 an oun

ya pan's nikkei down 2.5%, hang seng down 3%, germany's dax and london ftse trading lower.u.s. dow futures down about 200 points in premarket trading. >>> still to come the duke and duchess of cambridge are visiting the riot town in england. it's 38 minutes past the hour. ♪ ♪ [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. experience the summer of audi by september 6th and get over 130 channels of siriusxm satellite radio for 3 months at no charge. >>> welcome back to "american morning." rioters and looters ravaged birmingham in recent days. you saw the pictures. >> they were incredible. the duke and duchess of cambridge, william and catherine, visited the riot torn areas. their first official appearance since their north american tour. zain verjee joins us live from london to tell us more. hi, zain. >> hi there, good morning. they've been lying low since they visited canada and the u.s. and wales and angelsey, they were so moved by the images they saw on tv as they watched the riots unfold they wanted to go down and be a part o

down. japan nikkei closed down losing 2.5%. hong kong was also down. european markets haven't faired much better this morning. so far germany, france, and great britain stocks were also down. most analysts expect the downward trend to continue today. part of the reason is there are no economic reports scheduled to be released today. there is nothing to come out that could provide investors with a boost of confidence. live in san francisco allie rasmus ktvu channel 2 news. >>> with the large number of people on the unemployment line many states including california are running out of money to keep the checks coming. coming up at 5:15 we will have a live report from our washington, d.c. newsroom on what the federal government is doing to help out. >>> time is 5:03. new this morning the end of a standoff with police in san ramon. that is where a man accused of beating his elderly mother kept police at bay for several hours overnight. police rushed to morning glory court yesterday afternoon after getting reports that a man had attacked his elderly mother.

japan's stock market, the nikkei, was down nearly 4% in the first hour of trading. as stock prices plunged, the finger-pointing surged. john donvan reports. >> on friday we learned that the united states received a downgrade by one of the credit rating agencies. >> reporter: words just could not do it today. the president stood there trying to talk the nation or at least the markets into just taking it easy. >> but here's the good news. our problems are imminently solvable. and we know what we have to do to solve them. >> reporter: like a thermometer plunged into ice water, the dow jones average kept going down today. to close with a startling loss of more than 600 points. in terms of lost wealth $2.3 trillion. and while his goal was to tell us there's a way out. >> there are plenty of good ideas about how to achieve long-term reduction thaha doesn't hamper economic growth right now. >> reporter: but the question that remained unanswered was how. which is why the downgrade that exacerbated all this was given in the first place. the man speaking for the company that

on investor sentiment following disappointing quarterly eurozone and german growth reports the nikkei is down half a percent driven down by financials with mitsui one point two percent lower exporters are also under pressure in tokyo this is the opening picture in europe and the footsie added bags are shedding massively at the opening for the one point two percent of the next one point seven percent around twenty five minutes after the opening investors are disappointed with the lack of action coming out of tuesday's meeting between angela merkel and nicolas sarkozy. and let's take a look at russia finally and the little positive sentiment that we saw at the very opening of trading has now gone and the r.t.s. is down one percent of my six point eight. the sense to look at some of the main movers. from used to gary now it's down half a percent still two percent of the market this is the pricing in the announcement that the stock has been included into the global standard and as burbank is one point three percent lower well the bank says given the current market volatility players preferred to