And the dow jones plunging nearly 280 points. The biggest one day drop across the globe. It started in china with a regulatory move and spread to europe on a new round of greek worries and found its way to the u. S. By the close the Dow Jones Industrial average sank to 17,826 and the s p 500 gave back 24 and it was a losing week for all of the averages. Bob sonny looks at the issues settling the market. A crackdown by the chinese and a greek exit from the euro put pressure on stocks today. It was a selloff on heavier than normal volume. All of the major indices were down as well as all of the s p 500. And the stocks in the internet and the solar space were down more. Everything down 2 to 3 and the biggest moves in greece russia italy and portugal. Everything is up doubledigits as the European Bank has sought to prop up the economy. T of the profit is locked up. A lot of the traders decided to lighten up. After the close in china, there was a crackdown in overthecounter stocks. This is
Propofol back in 2009. Well, big break in the case of a criminal mastermind. The feds accuse him of running a black market that sold illegal drug autos abc 7 News Reporter vic lee is on the story with details on where arrests went down. Vic . Arrest made when the suspect, Ross Albright was in the library. The affidavit did say it had a lap top with him. He may have been busy running what Authorities Say was a massive Money Laundering operation. Its part of a so called deep west. A site where fictitious names and hard to track e mail are used to buy and sell elicit drugs. The fbi says albright was a mastermind between the online drug black market. He was once quoted referring to his site as anonymous amazon. Com this, is a story Court Interview on you tube. He was featured last year. Court documents say he generated tens of millions in commissions by being the middle man for the sale of heroin, cocaine, methamphetamine and other drugs. Yesterday the 29yearold man was arrested at the gle
Rainfall deficit. Tk; 40 trees toppled because of the recent storms, today about a dozen fell and have caused more damage. Were live tonight with the story. That is right. On 14th avenue in the richmond district. Im using this light to sort of help knee navigate around here. This massive pile that you can see here is only a section of the huge eucalyptus tree that came down this morning. Need less to say, crews were busy. Trees and roofs combined with heavy winds can cause an old tree to topple in a storm this, one happened to also fall on a car. Winds blow. As bad as today, were busy. Crews cut it down. Its the citys responsibility to trim the trees. We dont have the number of trues that wed like. In fact tree maintenance cycle is far short of that. Its a resource issue of money. Some trees supposed to be maintained by homeowners. Across town in San Francisco russian hill neighborhood, this family narrowly escaped being hit by a huge cypress tree. One piece spearing through the maste
Car, a smartphone turns into a car on wheels, is very much at the forefront of what people are talking about. Let me just show you before we get to the news. This is how General Motors is setting up its connected car. This is a live feed of whats happening in this car and on its dashboard. Weve got mary chan, head of the Global Connected Consumer Group at General Motors, they are going big. In fact, nine of the ten Major Car Companies in the world are here at the Consumer Electronics show. A lot of these people were either delayed, some havent gotten here because of the deep freeze thats engulfing the nation, but that ice has not extended to the stock market. Take a look at whats happening, a decent day, a bit of a rally on wall street, snapping some of the losing days we have had. Cheryl casones coming up in just a minute to give us all of the market news including that big news about jpmorgan and its 1. 7 billion settlement involving the Bernie Madoff scandal. Were going to take you
Live, from the cbs bay area studios, this is kpix5 news. A shooting spree at a u. S. Army base and tonight, we know the alleged gunman was a soldier. It happened at fort hood, texas. This is the second mass shooting there in five years. Joe vasquez has more. Reporter the gunman opened fire on one building of the base, then got in his car and drove to another location and started shooting again. Tonight, 16 people are wounded and four dead including the gunman who turned the weapon on himself. Every one of them military personnel. [ sirens ] the gates went up. Reporter as an army soldier drove through his own base, families were notified to stay inside and away from the windows. Take shelter immediately. Reporter at first, everybody was a suspect. They are escorting a group of soldiers out of a building now at gunpoint. Everyone is coming out with their hands in the air. Soldiers, men, women, and children. Reporter a responding officer eventually found the gunman. Cbs news confirmed he