really to blame for america s downgrade. t. boone pickens, where america goes from here. how bad is all of this for president obama. started to hear the white house in the kennedy years. dan rather. ever seen washington or wall street like this? and anarchy in the uk, what s behind the days and nights of rage in london and other uk cities. where will it end? this is piers morgan tonight. good evening on a busy news day around the world, thousands of police on the streets of london and other uk cities are getting the upper hand on the fourth night of appalling violence there. we ll have a report on the scene in a few minutes. mean while, there are wild gyrationings ending with the dow up nearly 4%. what it all means for your money is diane swank, and personal finance expert carmen wong ulrich. let me start with you diane. crazy day in the market. are we heading for another day of the dow falling. then the rally in the end ends up 400 points up. what do you make of it all?
saying he ll fight for tax increases as the deficit spending debate enters its next chapter. a powerful new special congressional committee charged with finding an additional $1.5 trillion in savings over the next decade. the low-key signing ceremony at the white house came two hours after a 74-26 senate vote that sent the compromise plan from capitol hill to 1600 pennsylvania back after weeks of partisan sniping and jockeying in washington that we know leftmost of you disgusted. a new poll tonight said 77% of americans say congress acted like spoiled children during the debt debate. hard to argue against that? how unusual was the down to the wire debate? you don t see this every day or any day for that matter, this is an announcement from the social security system saying the benefit checks will go on tomorrow and beyond, as we break down the compromise and look ahead, this is more than a little sobering. the dow plummeted 266 points today, its eighth straight day of decline
quickly opening down and staying there. so is japan s instability set us up for a wild ride on wall street? steve leisman joins us now. steve, this is fascinating. of course, it s going fov an impact on world markets. japan s is the third largest economy in the world. i think what s fascinating is huge electronic giants and the automakers. we have shutdowns on auto plants here in the united states, right? yeah, because it s an interconnected global supply chain. i think people would be mistaken if they said you know what? the market didn t think so much of this accident, didn t care that much about this tragedy over the weekend, but it changed its mind. it s not accurate. the way to think about this is the market perceives a very, very different disaster right now. when it was earthquakes and when it was tsunamis, it was something perhaps that the market could figure out and compare with kobe and indonesia or thailand. when it became a nuclear disaster or had the potential
getting screwed, we bail out general motors and goldman sachs david: we re not in favor of that either. two wrongs don t make a right. it doesn t. but the homes are what support economies all around the country. there is also an ethical issue. you talk about throwing people out on the street. sorry, if we can put money at work for all the other causes, i think we can put it at work to keep them in their home. david: steve, some of people who might lose their homes are people who never should have been there in the first place. government bureaucrats and politicians go to where the votes are. make a distinction with those who had a problem and could work it out and flippers or speculators or those putting no money down and shouldn t be in the home in the first place. david: what about that distinction? i don t think people complained when the obama reform kicked in, pay-out to the reform kicked in. and the market didn t plow like it was going to. that made everyone happy.
80-50 is the ndx target, which is about 90% where we are right now. look at the decline in february, you add that on top, we still have more upside in tech. neil: behind the scenes, amazon shares trading after hours another 4% here. so might cushion the blow as people sort of assess the tech sector. melissa, what do you think? i think the market didn t show the negative reaction to facebook today. facebook is its own beast right now. it dropped significantly over 40 points and the market rallied from tariff news that came out in the close yesterday. we held a lot of gains on the trading today. neil: i m glad you pointed that out. the dow upset up 112 points. the southbound 500, minus the tech sector, was doing fine. charles payne, one of the things you alluded to, the trade, the president is more pragmatic.