you re watching cbs 5 eyewitness news in high definition. defending the downgrade, the argument over the country s credit rating and why s and p is sticking with its decision. a war zone tragedy, a u.s. helicopter is shot down, taking 30 american lives. how one military leader wants to honor their loss. people need to p safe and the police are there to enforce the laws. protecting pedestrians in a hit-and-run tragedy. what police are doing to make the streets safer. good evening. fuzzy math or congressional bungling. the downgrade has plenty of people pointing fingers tonight. jay dow on the decision that could cost all americans in the form of higher interest rates. standing by its decision to downgrade the u.s. credit rating. america went from a aaa to a aa plus rating, which means s and p considers the u.s. a riskier investment. last week the agency warned it was watching the economy and decided to issue the downgrade on the heels surrounding of the debt ceiling.
the dow lost more than 500 points yesterday. investors are running scared over fears the u.s. could be headed into another recession. job numbers will also be out later this morning. if they re worse than predicted that could lead to another big sell-off. the latest on the u.s. and world markets this morning with jay dow in washington and tina kraus in london. jay, good morning. good morning to you terrell. if the debt crisis rattled investor confidence there s concern today s new unemployment numbers could send the market into an even deeper decline. today s government report is not expected to calm jittery investors. economists predict employers added only 75,000 jobs last month. unemployment is expected to hold steady at 9.2%. [ bell ringing [ it s the last thing wall street wants to hear. stocks tanked thursday over fears about america s shaky economy and the debt crisis in europe.ñi the dow jones fell 513 points, the biggest loss since the recession began. the nasdaq
loss on wall street. investors are running scared over fears the u.s. could be headed into another recession. job numbers willçó also be out later this morning. if they re worse than predicted that could lead to another big sell-off. the late west jay dow in washington and tina krause in lond london. jay, good morning. good morning to you terrell. if the debt crisis rattled investor confidence there s concern the unemployment numbers could send the market into a deeper decline. today s government report is not expected to calm jittery investors. economists predict employers added only 75,000 jobs last month. unemployment is expected to hold steady at 9.2%.ñi it s the last thing wall street wants to hear. stocks tanked thursday over fears about america s shaky economy and the debt crisis in europe. the dow jones fell 513 points, the biggest loss since the recession began. the nasdaq dropped more than 5%, tumbling 137 points. whether it slipped into a recession that is c
francisco. more on the weekend forecast in a moment. first let s check the roads are gianna. we are jumping over to the bay bridge. metering lights off, no wind advisories, but lots of roadwork. details on that coming up. right now, back to you. thank you. a developing story this morning. a hit-and-run rampage that s left a child in critical condition. this morning, police have a suspect in custody. kristy seifkin is in san francisco at the scene where the child was hit. kristy. reporter: good morning to you, grace and to frank. yes, this morning, police actually detained a suspect who they believe was involved in hitting that 9-year-old boy last night near downtown san francisco around 10:40 p.m. as we take a look at some images, you can see the suspect s car has bad front end damage. he was actually detained in hayward quite a ways away from where the hit-and-run happened. he had hit several cars along the way which is why he had so much damage to his own car and
at least one person has died, dozens more have been sickened by eating the tainted turkey sold under various labels. jay dow is in washington with more. jay, good morning to you. good morning to you, terrell. cargill is one of the nation s biggest meat processors and says it first began looking into possible salmonella contamination at one of its plants five months ago. that internal investigation led to what s being called as you said one of the largest meat recalls ever. grocery stores nationwide are pulling millions of pounds of possibly tainted ground turkey off store shelves. food giant cargill recalled the meat after it was linked to a salmonella outbreak that has so far killed one person in california and sickened at least 76 others in 26 states. a pretty scary thought. reporter: the recall affects 36 billion pounds of fresh and frozen turkey products dated from february 20th to august 2nd, each package contains code est p-963. the meat was sold under several dif