On wall street. The dow plunged 666 points today, or 2. 5 . That is the biggest percentage drop in a year and a half. For the week, the blue chip indexes off more than 4 . Even with the losses, the dow is still ahead 3. 25 for the year. Thats how good 2018 has been so far. So what rattled the markets today . It is a question for cbs News Business analyst jill schlesinger. Jill, a lot of folks have been waiting to see when and if this correction might happen. What happened today . We had some disappointing corporate earnings. But the reality is there is a real fear that the economy is growing faster than expected and that that could lead to higher Interest Rates. That was the real factor that seemed to spook the markets. You know, before the open, we had a strong january jobs relate 200,000 positions added, unemployment remains at a 17. Year low. Most importantly, we have an increasing wages, 2. 9 from a year ago. Thats the fastest pace since the recession, and that jump in wages, it co
Also this morning rage boils over in court. A father of three girls abused by the doctor of the American Gymnastics Team apologises for his actions and says hes no hero. Talk is cheap. The boss of the fbi hits back at donald trump in a row over a memo that accuses the bureau of bias. In sport, scottish hopes soar as they start the six nations in wales today, and theyre both hoping to snuff out englands hopes of becoming the first side to complete a hatrick of titles in 130 years. Ireland kick off in france. Theyre back, the spice girls say the time is right to explore new opportunities, but what will those those opportunities be . Well try and find out. And ben has the weather. Good morning. Your saturday looks great, damp and cold in most places. There will be snow in some high ground in the north and then the weather looks set to stay cold through the rest of the weekend and into next week. All the details on the way. Looks great. Thanks, ben, see you in a bit. Small businesses affec
Welcome to the programme. After weeks of fevered speculation, a republican memo has been released alleging political bias in the Us Justice Department and fbi. It was cleared by President Trump in spite of strong opposition from democrats and many in the Intelligence Community who say it misrepresents highly sensitive information. Nick bryant reports from washington. In washington, the feeling of deja vu with the day beginning as it often does, with an attack from the white house on the Russian Investigation. But this has intensified the big chill between the president and his senior Law Enforcement officials. Thats the main accusation of a secret republican memo which the president authorised the public release of. It alleges an anti trump bias amongst top Law Enforcement officials. I think its a disgrace whats happening in our country and when you look at that and you see that and so many other things whats going on, a lot of people should be ashamed of themselves, and much worse tha
Syria an. Experts report also says legally exporting commodities like coal and steel millions of dollars in revenue. Flooding in northwestern argentina has caused some ten thousand people to flee their homes the. Banks on thursday after heavy rains rising six meters overnight and is expected to continue rising in the coming days residents have been taken to emergency shelters. Former lead singer of motown group the temptations Dennis Edwards has died just before his seventy fifth birthday edward sang some of the groups biggest hits including one nine hundred seventy to use papa was a Rolling Stone for which he won a grammy award. A. True diversity. Is at home in many languages. There with our innovations magazine for. A week and look into the future. Science and research for. You. There is no double the double was the police. Thats why we call them beasts. The slums
There not meeting their housing goals reporter where there are places there are not enough housing, a project that complies with zoning requirements must be approved. Case and point, theres a plan to tear down the donald at hey it and sandford street for the Affordable Housing project. They have expressed concern about how these developments will affect the character of the neighborhood. When we saw some of the concerns from the community, my response immediately was that we can use these anymore. White doesnt work. Reporter what about the argument that neighborhood should have more control . You bought the local control in the beginning. You only adhering to your own rule. The cities opposed, they say the reason theres not enough Affordable Housing is the lack of funding. If you want to check out the list of affected communities, you can find it at cvs sf. Com. Housing affordability is one of the top three concerns for San Francisco this year. The annual city poll by the San Francisco