new outrage. i hope that he genuinely is apologetic and not just because he got caught. reporter: this morning, the apologies for this video are sinking in. never be a [ muted ] at s.a.e. parker rice writing, i am deeply sorry for what i did saturday night. it was wrong and reckless. i admit it likely was fueled by alcohol consumed at the house before the bus trip but that s not an excuse. rice graduated from this jesuit prep school in dallas last year. aplombed. i think it s unconscionable to see what was going on on that bus. never flrt a written statement rice says the song was taught to us overnight s.a.e. said it was likely the men learned the song from fellow chapter members, but reiterated the national fraternity does not teach such a racist hateful chant. the parents of a second student levi petit apologized.
partly on alcohol. on the ou campus new outrage. i hope that he genuinely is apologetic, not just apologetic because he got caught. reporter: this morning, apologies for this video are sinking in. a freshman member of sigma alpha epsilon, parker rice writing i am deeply sorry for what i did saturday night, it was wrong and reckless. i admit it likely was fueled by alcohol, consumed at the house before the bus trip but that s not an excuse. rice graduated from this jesuit prep school in dallas last year. i was appalled. it is unconscionable to see what was going on on that bus. reporter: in his written statement, rice says the song was taught to us. overnight, sae said it was likely the men learned the song from fellow chapter members, but reiterated the national fraternity does not teach such a racist hateful chant. parents of a second student,
i admit it was likely fueled by alcohol consumed at the house before the bus trip but that s not an excuse. yes, the song was taught to us but that doesn t work as an explanation. now sae s national organization is responding to the claim that the song was twaugt the statement its own that reads in part the national fraternity does not teach such a racist hateful chant and this chant is not part of any education or training. our investigation has found very likely that the men learned the song from fellow chapter members. the statement goes on to condemn the behavior of the house mother seen in the new video as well. let s turn to business. u.s. stocks plummeted tuesday with the dow falling 333 points. a really rough start to the new year and both the dow and s&p 500 are down in the red for 2015. now investors are fearing the fed will hike interest rates for the first time in nine years. hiking interest rates. it just doesn t happen.
are we expecting anymore disciplinary action from those leading the way at the university? reporter: the university expelled the students yesterday. they said more disciplinary action could follow for the other members of that bus. they re trying to identify who they are. so far there s been no more expulsions because of this. one of the students parker rice apologized with a written state yesterday. he said his actions were reckful and hurtful. he said they were fueled by alcohol that he consumed at the fraternity house before the bus ride. he said that s not an excuse but that s what happened. he said he learned the chant from other sae members. he says that too is not an excuse. that got a response from the head of the fraternity organization nationwide which issued a statement saying it s very likely the men learned the song from fellow chapter members.