u.s. credit rating. wallct oned taken ofd the action the white house, as tragedy in afghanistan. there is no preparing for it. it is something you see in the something you are through.to live of theght of them as u.s. troops are speaking out about their tonight the the brave u.s. are speaking out. thus when neighbors are saying about the apparent murder- suicide plus what neighbors apparentg about the suicide and high temperatures, and what you can expect. captioned by the national captioning institute www.ncicap.org this is breaking news. are breaking news is from the financial markets. if they have opened down tonight of the downgrade of the u.s. credit rating. 1.4%.s nikkei opened down kong opened down, and is down 2.5%. tim geithner held urgent talks g7 nations. we have been following the latest developments in the news room. there was a whirlwind of between nations the world scramble to brace for impact, but what is happen here at home? global markets are under
becoming an international crisis. early this monday morning, crisis. early this monday morning, august 8th, 2011. captioning funded by cbs good morning. welcome to the early show here on a monday morning, 7:00 am on the west coast. i m chris wragge. and i m in for erica hill. she s in somalia and we ll hear from her in a few minutes. standard sbf poors, markets have already lost ground overseas and wall street is taking another dive this morning. joining us now from the new york stock exchange is alexis christoforous. where do we stand right now? stocks tanked, the dow was down 240 points in the first minute of trading. we ve come back a little bit, the dow down 185 after stocks dumped after this downgrade of u.s. debt. the next question on everybody s mind, double dip recession, how likely is it at this point? it s a resounding yes for a double dip recession. since july 26th, this market has lost over a trillion dollars in value. we ve gotten clues that the