Its a great time to buy. Stocks are down. So, you know, im looking forward to it going back up and seeing a great investment in the future. I saw it as an opportunity. I mean, ever since it winds down so quickly, i just went out and buy as much as i can. Reporter whats the right reaction . Financial experts tell us do not panic. They should sit back take a look, listen to the experts and find out whats causing this and what theyre going to see is that this is a temporary issue. Reporter the heavy selling around the globe was sparked by fear that is chinas economy is falling dramatically and many u. S. Companies and investors are worried how a slow down there could affect production and trade here. China number one devalued their currency last week which is a surprise move. Number two its the worlds seconds largest economy. Reporter lets put this into perspective. The dow took a nose dive by 22. 6. Today the dow was only down 6. 6 percent at its worst point. First inn this were a true b
Telling us theres no need to panic. I dont think its cataclysmic. I dont think its a rerun of 2008. I do think that risk assets have been trading like they werent risky for a long time, and i think thats over and i think that the us market has gone up for few months when it probably should have gone down only because money ran here and so we have sorting out process to do here. Things will be a little less euphoric and bubbly but i dont think disaster is in the makin. Thats good to here. International Monetary Fund expects chinas economy to grow only sixpoint 8 and that would be its weakest in 25 years. Lucy, hold on to your seat. Indeed, joyce. Coming up on fox 29 news at 5 00, what all of that action on the street that joyce just told you about means to you. When you were start worrying and what you should be worried abo about. Our financial expert dan ricotta has all of those answers. Now to breaking news in new york city. Emergency crews on the scene of a chaotic scene in queens wh
Knowing. So far 50 people have been rescued since the quake and the mexico president is calling for three days of mourning. Meanwhile, Hurricane Maria is eyeing turks and caicos after leaving a path of destruction in puerto rico. The storm destroyed puerto ricos electrical grid and officials saying it could take months to repair. Neighborhood after neighborhood is flooded with debris. And roofs ripped off the homes there. And President Trump says the island is absolutely obliterated. He says he will visit there and the United States is sending aid to help with recovery there. And the earthquake and hurricane is inspiring philadelphians to help out. Action newss great hall is live at hunting park with details on the number of initiatives going on around town. Reporter hey brian, we can tell you at 5 30 mayor jim kenney along with other city leaders are hold a press conference to show their support for the Puerto Rican Community and let people though how they can give back. Whether its p
Counter friday 13th . Reporter im going with that. Reporter lets go to the Weather Center weve got cloud cover around today. We have a sprinkle here or there, most of you are dry, maybe light spotty shower, 53 in allentown. 55 in reading. 58 in philadelphia. 59 in wilmington, 54 in trenton. Currently 62 degrees at the airport in ac. As we roll through the day its going to be a cloudy and cool one. 61 degrees by noon. 66 more or less through the afternoon with a high of 67. If we hit that well get that around 4 00 p. M. If youre dressing the kids a jacket a good idea. Dont know if you have to go overboard on the rain gear, theres a chance of a spotty shower, but light, it will not bother them a whole lot. 56 in center city. The weekend is experiencing a big warmup. Well be in record territory on sunday. Ill have the in the seven day. Reporter no traffic moving at the moment westbound 30th street street. I warned you about this yesterday, hopefully you were watching. Should be open in a
Center were under the clouds today. A shower is possible right now, if you see anything on the windshield its a sprinkle from the lowlying cloud cover. Its cool as you step outside again. 57 in philadelphia. 52 in allentown. 54 in reading. 54 iner. 61 in dover. Spotty shower around, if you get these, its brief light stuff. 61 by noon. 66 by 3 00 p. M. Im expecting a high of 67 around 4 00 p. M. This afternoon. If youre dressing the kids for a walk to the bus and a wait for the bus on the bus stop, jacket required, 51 degrees more or less in the suburbs, probably dry, but fairly cloud. We have a warmup in store for the weekend, close to a record high on sunday. Details coming up in accuweather. Reporter good morning, davey, we have the friday morning commute on Baltimore Pike heading toward i95. Roads damp, but not causing issues. We have a few accidents, there are a couple of big ones, main street at park avenue in schwenksville. This accident is causing problems in cinnaminson, burlin