the nasdaq fell 14. >>> an early end to the crab season for many fisherman. many fisherman are unable to dock their boats at their home ports. many of the docks were destroyed by the surge. the next closest port is in eureka. fuel cost makes traveling there prohibitive. >>> covering the earthquake aftermath, power supplies are compromised. >> reporter: main concern in japan is power. with the destruction to the power lines the economies are mainly concerned about blackout so they decided to do rolling blackouts on a daily basis through the rest of the month. what they have told us is, there are 23 wards in central tokyo that will not be effected but some of the outer parts of tokyo that will have rolling blackouts. >> you recollect find the blog and all of our coverage of the earthquake and tsunami on www.ktvu.com. >>> classes canceled today after administrators discovered class rooms have been ransacked over the weekend. oakland pride academy. broken windows and a commute lab sveumed of all its computers. >>> 200 people rallied at san francisco city hall aga

the dow dipped 17 points in the nasdaq fell 8. rob this year. what is going on with stocks? >>rob: oil was higher player, it's scaring the stock market. we don't like high oil. if we can do with japan, tsunami is, loss. the issue's letter out there that are going to drive people crazy is going to get worse? is it not going to get worse? it's going a lender. fundamentals were great worldwide. i feel confident, the higher oil is saki and the rain in libya and then the and and and then japan what will happen or not. evaluation, fundamentals, economics we will go higher but march maybe march not so much. >>catherine: amazon began opening an app shop. >>rob: at polish suing over the name app. i love it, there's no barriers to entry last jeff he started doing videos, downloading tv shows and movies just like apple. he started doing acts just like google. they are a distant no. 2. >>catherine: 20 come back with rob with e-mail coming up. >>pam: want to tell you about kron 4 is baseball's special. this saturday gary will host a baseball by the bay with a preview of the giants in the

the nasdaq fell 50 points today and is now trading in negative territory for the year. >>> voting has begun in several provisions. the state assembly voted earlier to cut some social services from the budget but so far neither chamber has passed the centerpiece of brown's plan to extend tax increases. the tax plan requires the support of at least two republicans in each house in order to pass. voting is expected to continue tomorrow. >>> and exclusive new ktvu field poll indicates california voters considers state workers pension benefits too generous. >> reporter: they say that the university wants to pay more of their pension and health costs when many of them are living in poverty already. many were outside the uc board of regents meeting in san francisco and berkeley payday say that the university has failed to fund their pensions and increases in employer health care premiums and police could take up to 10% in pay cuts. >> with the university throwing us into poverty, we are going back into public service. >> they want to cut from the bottom instead of cutting from the top. >> re

the ftse fell 1.7% yesterday. and on wall street, the dow down 242 points, wiping out most of its gains for the year. the nasdaq fell 50 points. >>> some good news for toyota. the automaker is restarting production at plants making replacement parts for vehicles on the road. but it is extending a shutdown at assembly plants through next tuesday. that affects about 95,000 vehicles. >>> apple has responded to parents' complaints about their ge bills on itunes. apple now requires that users re-enter their password when making app purchases. that should prevent kids from inadvertently buying virtual goods while playing games on iphones and ipads. >>> food prices have been rising rapidly. it doesn't look like that will end anytime soon. wholesale prices jumped last month. the highest jump in 36 years. and you'll see those increases in grocery stores and restaurants. everything from green peppers and lettuce. and also to meat and dairy, will cost you more. >>> when it comes to cola wars, coke is it. diet coke is now the nation's number two carbonated soft drink, behind coca-cola. numbers out today are expected to sho

the nasdaq fell 33, and the s&p was down 15. so what happens now? erika miller reports. >> reporter: the moment the opening bell rang on wall street, fear gripped the stock market. trader art cashin says the disaster in japan prompted many investors to dump their holdings at any price. >> when you can't sell what you want to sell, you sell whatever you can-- sometimes, your grandmother's necklace. you don't like to sell that, but if that's the only thing that gets you money, you have to do that. >> reporter: the dow's decline was serious, but the drop was far worse in japan. the nikkei lost more than 10%. most european markets also fell. the question for investors is what to do now? is the stock market overreacting to the crisis in japan, or does it pose a major threat to global growth? market strategist alec young says the answer depends on the extent of the damage to japan's nuclear plants. >> unless we are really looking at a repeat of chernobyl, where we had a major nuclear meltdown and radiation spreads throughout tokyo, and it really takes the

the nasdaq fell 50. king a look at overseas trading this morning, in tokyo, the nikkei was down 131 points while in hong kong the hang seng tumbled 416. >>> whether the effects of japan's nuclear crisis reach american shores, the financial effects have already struck wall street. by wednesday's closing bell, the year's impressive gains on the s&p 500 and the nasdaq had been entirely wiped out. the year's most heavily traded session left the dow close to even for 2011. all 30 dow stocks fell and all ten company groupings on the s&p 500, the basis for most u.s. mutual funds lost ground. wall street's so-called fear index is up over 46% this week. fears drove investors to safer assets like bonds treasury prices jumped and the yield on the 10-year note briefly fell to the lowest level this year. and the bad news wasn't limited to japan. in february, new home starts posted their biggest drop in 27 years and permits for future building reached a record low. a day after reassurance from the fed that it expected

looking at the numbers, the dow tumbled 242 points, the nasdaq fell 50 and the s&p 500 lost 25. joining us now, mohamed el-erian, c.e.o. and co- chief investment officer of pimco, the world's largest bond fund manager. hi, mohamed. >> hi, susie. >> susie: looks like the most serious question today is how bad is this nuclear situation in japan and what does it mean for japan and for us in the united states? >> that is a major question and a major uncertainty, susie, that's why the markets are so nervous. no one knows how bad it can get. everybody knows that there's a range of outcomes, and what the markets are now starting to price in is this uncertainty premium. this uncertainty premium applies to two things. one is what can happen in the next two days. and secondly how long will it take to restore full energy and electricity in japan. so you're getting both influences coming together, turbo charged by an element of uncertainty and markets do not like that. >> susie: right. and on top of the uncertainty about the nuclear crisis, there's also all the questions about the tremendou

the nasdaq fell 33. ing a look at overseas trading this morning, in tokyo, the nikkei surged 488 points while in hong kong, the hang seng gained 22. >>> the prospect of a nuclear meltdown in japan crippling the world's third largest economy reeked havoc on markets earlier this week. but there are signs this morning from tokyo things may be calming, at least for now. the nikkei closed more than 5.5% higher today, recovering some of the massive losses sustained over the last two days. tuesday, the dow jones fell almost 300 points right at the opening bell. things looked so grim before trading even began, the new york stock exchange invoked a special rule to smooth volatility. intel and cisco dependent on japanese factories for products and parts had steep falls. insurer aflac which does 75% of its business in japan also fell sharply. nuclear related stocks continued to be battered. blue chip general electric which has moouk ventures with japan's hitachi fell mother 1.5%. stocks climbed back later in the aft

the nasdaq fell 34 points to 2,667. the electricity situation has investors especially concerned. >> right now they are experiencing rolling blackouts. how soon can they get their manufactures back up and how much is that going to impact earnings? >> japan's economy is important for the u.s. because it accounts for about 10% of american exports. japan stock market is down 19% since friday. >>> more rain is slowing the commute tonight and our chief meteorologist, bill martin, has been tracking the rain all afternoon. where do things stand now? >> we go to live storm tracker 2. we had up to an inch of rain. rain is coming down hard as we pointed out earlier. napa as well. richmond bridge, you have some rain. you have more rain toward vallejo and concord. the heaviest rain swinging between richmond and concord. as we head south in the santa clara valley, we have more widely scattered showers, you have showers right now. we head out there right now. we have a live camera shot knowing this is in the heart of the afternoon com

both the dow and the nasdaq fell in value. the nasdaq was off almost 45 points.oil settled at just under $100 a barrel. >>> san jose is experiencing more complaints regarding homelessness since the police department had to pull two liaison officers due to budget cuts. it's a story you will see only on two. less residents say the problem is increasingly -- >> it bothers me there's something like that super close to my house. >> for some residents, the encampment is just feet from their homes. >>> film buffs are enjoying opening night of the cinequest film festival. a top headed greeter welcomed moviegoers to the theater. a documentary by john turro on naples italy. after the show she's scheduled to speak with the audience. >> i love opening night, and i love the meeting the directors and actors. >> the festival continues through mid-march. >>> four children end up feeling ill. how it all started with an act of kindness. >>> live pictures now from san francisco where we're monitoring heavy rain in some areas, bill's complete forecast at 10:45. >>> late wo atst fwa.

here are today's closing numbers, the dow fell 17 points to close at 12,018. the nasdaq fell eight points to close at 1723. >>> the allies bombarded libyan defense centers rebels pushed back against government forces. today fires continue in the skies of tripoli. in moscow, america's secretary of defense called those claims outright lies. >> the vast majority if not nearly all civilian casualties have been infected by gadhafi. most of our targets virtually all of our targets are isolated, nonpopulated areas. >> the allies suffered their first big loss today when a fighter jet crashed in libya. the two crew members were ejected safely and were rescued by a team of american militants and taken to safety. the f15 that crashed had a $28 million price tag and the allies -- $15 million each. today at a news conference in el salvador says he will cut his latin american trip short by a few hours and head home tomorrow. -- >>> late today gadhafi spoke on libyan state television, mocking the allied attacks. gadhafi spoke from his compound in tripoli telling a crowd of supporters s

the nasdaq fell to 2627. the s & p 500 closed at 1281. today a judge granted borders an extension to determine how many additional stores it will close. as it reorganizing under bankruptcy protection. they may close another 57 locations in addition to the original 200. >> verizon wireless said it will sell its first 4g point, the thunderbolt goes on sale thursday and it will run on android software. they looked at 4g service here in the u.s. versus the faster 4g service offered overseas. we have a link to that service. >> a fourth fire in japan's crippled nuclear power plant caused thousands more to evacuate. >> california has some of the strictest building codes in the country. we will take a look at some of the building uniquely built to withstand earthquakes. the sound of spring... it's a symphony best appreciated... at full blast. the moment you've been waiting for has arrived. springs best event. from cadillac. with zero down, zero due and zero first month's payment on the exhilarating cadillac cts. but like the beauty of spring, it

the nasdaq fell nearly 45 points closing at 2,337. >> the republican controlled house today passed a two week temporary spending bill which includes $4 billion in cuts. the bill is designed to pie time so democrats and republicans can agree on a measure. however, the two parties couldn't be farther apart. right now it's up to the senate to pass the short term agreement by friday. >> these cuts restore the commitment to significantly reduce spenting. reign in the nation's deficit and debt. >> the republican budget will bring more job losses and more suffering of our families. >> the senate is expected to vote on the two week extension by this thursday. >>> senator barbara boxer issue add statement today saying quote if we fail to keep the government operating, which is our basic responsibility, then we don't deserve a paycheck. i am hopeful that this legislation will help convince our colleagues not to shut down the government and i urge speaker boehner to quickly pass this bill. >>> the government accountability office released a statement today on waste, finding tens of billions of

the nasdaq rose seven points to close at 2,643. for the week, the dow lost 1.5%; the nasdaq felle than 2.5%. nasa chalked up a first overnight, as "messenger" went into orbit around mercury after a six-year journey. as this animation shows, the satellite's engine fired to brake its momentum and begin an egg-shaped orbit around the planet closest to the sun. its year-long mission is to snap pictures and of mercury's cratered surface and measure the magnetic field. "messenger" is the second manmade object to visit mercury. one of the "mariner" spacecraft made a fly-by in the 1970s. those are some of the day's major stories. now, back to ray. >> suarez: the people of japan marked one week today since catastrophe shattered their northeastern coast. the government acknowledged the twin disasters-- earthquake and tsunami-- were beyond anything it ever planned for. and prime minister naoto kan appealed for unity in the face of staggering loss. >> ( translated ): this is the worst crisis japan has faced, and we are now being tested. japan, in its past history, built this country with mir

meanwhile, the nasdaq fell 12 points. >>> well another week another increase in gas prices. the seventh-straight increase. the national average rose to $3.60 per gallon in the last week. that's up 3 cents from last week and 80 cents from a year ago. prices are at their highest level since september 2008. this, in part because of the turmoil in the middle east and also the japan earthquake. >>> and that disaster in japan is also limiting your options if you're in the market for a new car. many buyers will have limited color choices for at least a month. that's because of plant damaged by the quake is the only source of a shine nay pigment used in many car paint colors. one of those colors is actually tuxedo black, available on the best-selling ford f-150. >>> the supreme court hears arguments in the largest job discrimination lawsuit ever. the court will determine whether the case against walmart can go forward as a class-action suit that could involve as many as 1.5 million women. the plain tiffs argue that the walmart paid men more and promoted them faster. >>> we are one mo

the dow jones industrial average fell nearly 300 points before coming back some. it ended with a loss of more than 137 points to close at 11,855. the nasdaqell 33 points to close at 2667. the price of oil also fell sharply to $97 a barrel over fears about japan's economy. libyan forces loyal to moammar qaddafi recaptured two more strategic towns today. they seized control of brega, and pushed into ajdabiyah, using tanks and air strikes against the rebels. it put qaddafi closer still to retaking benghazi, the major city in the east. meanwhile, in paris, the world's major economic powers asked the u.n. to authorize aid to the rebels, but the diplomats balked at france's calls for a no-fly zone >> for the moment, i haven't convinced them. france was with great britain leading this initiative. what's the situation today? qaddafi is scoring points. if we had used military force last week to neutralize some airstrips and the several dozen planes that they have, perhaps the reversal taking place to the detriment of the opposition wouldn't have happened. >> holman: in tripoli today, qaddafi said the rebels now have two choices: "surrender or run

the nasdaq fell 50 points to close at 2,616. the u.s.ironmental protection agency has announced the first national limits on mercury pollution. the regulations laid out today are part of efforts to cut emissions from coal-fired power plants. advocates say the pollution contributes to birth defects and other problems. industry groups say the e.p.a. is inflating the benefits and under-stating the costs. power plants would have four years to comply, once the rules take effect. security forces in bahrain used tear gas and armored vehicles today to clear a central square in manama. at least five people were killed in the assault on protesters in pearl square. demonstrators' tents were also set on fire, sending plumes of smoke rising above the city. in washington, a spokesman said president obama telephoned bahrain's leaders to deliver this message. >> there is no military solution to the problems in bahrain. there is no means of violence that will solve the unrest in the region, in any country, and that the future of those countries will be i

street today, stocks fell amid concerns over the economic effects of the japanese earthquake and tsunami. the dow jones industrial average lost 51 points to close at 11,993. the nasdaq fell 14 points to close at 2701. president obama asked congress today to revamp the nation's main education law before the new school year begins in september. republicans and democrats agree that "no child left behind" needs revising, but they disagree on the federal role in education. the president said he wants changes to support innovation and target more funding on schools where students are doing poorly. those are some of the day's major stories. now, back to gwen. >> ifill: we take a closer look look now at some of the questions raised about the state of japan's damaged nuclear reactors. i'm joined by newshour science correspondent miles o'brien and david brenner, director of the center for radiological research at columbia university. welcome. miles, i'll start with you. what is typical? what is supposed to happen and what is happening in japan right now. >> let's do a little bit of boiling water reactor 101. let's look at a little graphic here to help people understand. we've

the nasdaq fell 39 points to close at 2745. those are some of the day's major stories. now, back to gwen. >> ifill: we take a closer look as those skyrocketing energy prices. crude oil futures have climbed to nearly $106 a barrel, and gas prices have jumped 14 cents in just the last week, to a national average of $3.50 a gallon. obama administration officials say they won't rule out relieving that upward pressure by tapping into the strategic petroleum reserve, an emergency stockpile of 727 million barrels of oil in texas and louisiana. white house spokesman jay carney told reporters today it would take more than the skyrocketing cost of fuel to reach that decision. >> i wouldn't look to a price threshold. the issue here is disruption. is there a major disruption in the flow of oil? that's obviously a factor. but i think the point that we want to make is that we're very cognizant of the fact that americans are experiencing a sharp rise in prices at the gas pump. that affects them. and their family budgets. and we are monitoring that very closely. >> ifill: for more on a

the nasdaq fell 12 points to close at 2730. germany chancellor angela merkel played down a stinging election defeat today tied to the nuclear scare in japan. on sunday, the anti-nuclear greens won power in a state where merkel's christian democrats had governed since 1958. voter fears over what's happened in japan was the dominant issue. before the election, merkel had ordered a review of nuclear power in germany. she said today the review will go forward. those are some of the day's major stories. now, back to jeff. >> brown: japan's nuclear troubles grew worse still today, even as confirmed deaths from the earthquake and tsunami topped 11,000. officials reported radioactive water has spread beyond a damaged reactor building, and radiation has also gotten into the ground. smoke rising from parts of the fukushima dai-ichi plant was the most visible sign of ongoing trouble, but the real threat lay beyond public view at unit 2 highly radioactive water, first discovered last week, has now escaped the reactor containment building. i

the nasdaq fell 50 points to close at 2,701. forces loyal to libyan leader moammar qaddafi blasted a key oil port with tanks and warplanes today and claimed they'd recaptured it. the target was the city of ras lanouf, which rebel fighters had seized a week ago. we have a report from lindsey hilsum of "independent television news." >> reporter: the skies were clear for colonel qaddafi's fighter jets today. the bombs fall percely close to the oil refinery. earlier, one landed within the perimeter fence. we drive past. it's a storage-- if the storage tanks of oil and gas were hit, the areas for miles around would be devastated. we stop, and another falls. that's the second bomb we've seen falling in the last half hour. the fighting is heavy. i can hear the thud of artillery it seems colonel qaddafi's force are determined. maybe what they want is the oil refinery. we were on sand dunes which artillery came. inspect the rebels say they've been fired on from three directions. mortars and shells kill more than arial bombardments. bomb a

the nasdaq rose 14 points to close at 2,715. for the week, the dow lost 1%; the nasdaq fell 2.5%. that bill stripping public employees in wisconsin of most bargaining rights is now law. republican governor scott walker signed the measure today. governor walker spoke today from wisconsin. >> when people hear those facts, see that and realize that this is not only about protecting noingt only middle class jobs, avoiding layoffses that other states are doing but protecting miingd el class taxpayers, about making the government run better and ultimately truly about rewarding good employeeses who right now can'ting singled out as extraordinary employees, the more people get the facts and the facts are clear, the better off we're going to be. >> holman: the fight is not over yet. democrats moved today to challenge the new law in court. the u.s. house voted today to kill a program of mortgage assistance for homeowners. republicans pushed through the measure in a drive to cut spending. the $1 billion program is aimed at helping people who've lost their jobs or fallen ill and can't pay the

the nasdaq fell 14 points to close at 2,784. for the week, both the dow and the nasdaq rose a fraction of a percent. now, back to the jobs story, and to jeffrey brown. >> brown: and we take a closer look at today's data with lisa lynch, dean of the heller school for social policy and management at brandeis university. she's a former chief economist for the labor department. and nariman behravesh, chief economist at i.h.s., an economic and financial forecasting company. well, lisa lynch you and i have certainly talked a lot about bad jobs numbers in the recent past can. we finally today talk about some good you ones? >> jeffrey, it's wonderful to be able to finally talk about a report where we're seeing good news across so many fronts. we saw as you reported increase in employment. we've now had 12 months of steady job growth out of the private sector. we have a drop in the unemployment rate. the biggest drop in the unemployment rate over the last three months since we experienced the 1980s. so we're seeing very sharp decreases in