Dow, as you see, off some 2 , more than 350 points. And if this holds for the rest of the session for the next three hours then it will be the second day in a row that the dow has lost more than 350 points. The reason can be put very neatly into two categories firstly, what is going on with china, how bad is the Economic Situation there . Is there economy under control and secondly how this is spilling into the rest of the world. The question of Global Economic growth. Bad manufacturing numbers in china, some weak numbers out of the United States, and throw into all of that, wolf, what is the fed going to do and when are they going to do it . This week we had minutes from the fed that, frankly, meant all things to all people. Some believe its rates are going up in september, some saw it as december. So take that noxious mix, put it into the part of the summer, high volatility, low volumes and this is what you get. You know, its been a bullish market now for years where president obama,
This is early start. Im john berman. The northeast buried by 2 feet of snow. It is shattering snowfall records. The boston snowfall measures 37 inches. The weight of that snow is too much to bear including the sheet metal plant. Seven workers were trapped inside but they all made it out safely. Suddenly heard a big hissing sound. A hissing sound and creaking sound. The entire city of boston is shutdown today. Subways are offline. 48 passengers had to be evacuated when the train got stuck on the red line. The big problem is the mountains of snow everywhere and just no place to put it. Everyone has been told to stay indoors. Miguel marquez shows us why. Reporter john we are not on your beloved streets of boston, but we are very close. We are in hull. We can usually see the airport from here if it were not a stormy night. I will don the googles here. They had 24 inches of snow in a short period of time. This is a drift. We would be buried if we stay here too long. They have worked tireles
Everyone concerned of the power vacuum in that country. The president and the entire government essentially resigned weeks ago. Now rebels control that country, and there are questions about the future there. This is the day president obama could formally ask congress to officially authorize the war against isis. Even though the mission has been going on for months. His request will limit the type of Ground Forces the u. S. Could deploy. And it comes on the heels of the shattering news that american hostage Kayla Mueller is dead. The pentagon revealed that u. S. Commandos tried unsuccessfully to rescue her last summer. That as president obama is calling kaylas death heartbreaking. He is defending his decision to reject ransom demands from isis for her release. Lets get more now from senior White House Correspondent jim acosta. Reporter john, in that interview with buzzfeed, the president said speaking with the parents of these american hostages is as tough as anything he does, but he i
Down triple digits, all part of this global gut check. Cristina alesci is joining me. We are closer to correction territory than we were when he spoke to you an hour ago. I heard big noises on the floor when we got that big drop. So clearly nervousness on this end but all around the world, as you mentioned, this is really a global story. The fact that emerging markets have take answer big hit. The uk is in official correction territory already. So weve seen this kind of play out and the three main drivers here are lots of question marks around the second biggest economy in the world and its ability to grow and thats china. We got really negative data out of them last night. And then you have pressure on oil prices because there isnt enough demand in the face of a Global Supply glut. So you have those two things going on. Plus, lots of question marks about what the fed will do if the face of this new market reality which is a lot more volatility than just a couple of months ago, poppy.
A breakthrough in the marathon talks with france germany, russia and ukraine. The parties agreeing to a ceasefire scheduled to take effect this weekend. Lets go straight to Nic Robertson. He joins us live from minsk. This is a big about face from an hour ago when we heard from ukraines president of no deal. Reporter we were hearing the same from the separatist poppy. Yes, there is an agreement. 17 hours of talks. The longest president putin has been involved in according to one of his spokesperson. We have few details so far. What we know is ceasefire comes into effect midnight saturday into sunday. There was an agreement to pull back heavy weapons in ukraine. Beyond that there is an expectation there will be a zone and they will pull back to new lines on the ground. It is not clear what the positions will be. There is two and a half days left between now and the ceasefire coming into effect. There is continuing reports of military activity on the battle field today. That remains a con