china s economy in turmoil this morning. half of all public traded companies are trying to suffer through the steepest market drop in decades. all this has greece deals with their crisis. what could the global economies mean here at home? bobby is here as the global analysis. let s look at the graphic we built to show this decline. china s markets are in free fall. in june it dropped 30% after a big boom what is going on here in the second largest economy in the world? well the economy is slowing. the problem is it s overheated. in this country and most of the western world, get used to the idea stocks are institutional. most investors are institutional
the russian market drop. the ruble collapsed and many given his own bellicose talk he is hurting himself and at it going to fall on his actions. so let him implode on his own. maybe. maybe. possibly. could be. you re in charge. he just invaded a country that we have an obligation to protect, a country we want to bring over to the west. we don t wait for maybe, maybe, possibly could happen. that s not a leader. we act swiftly, we act decisively and we change the equation here with this man. instead of him pushing us around we push him around. that s the only thing a bully understands. someone standing up to him, getting in his face and saying you want to play this game? we re going to make life so difficult for you. that s what gets hits out on you. i m hearing in your case, the mob wanted if you re not willing to do that, don t put 200 mafia guys
as we mentioned christi and victor, is this a very agonizing case. a wait and see at this moment. victor, christi. nick valencia, thank you so much. we re going to talk about the legal ramifications of this ruling in the next hour. keep it here on new day saturday with us. also wall street, slammed this week. ouch. i mean, no market was safe. the dow is saw its biggest drop, or its worst week let s say, since 2011. while the s&p dropped by more than 2.5%. s&p plunge could mean a big hit your retirement account because it most closely tracks your 401(k). the thing is, those dramatic swings say some analysts say we could be looking at our first major correction since last year gain. alison kosik has more on the market drop. good morning, alison. reporter: hi, victor and christi. stocks ended with a huge thud on
be allowed to be paid and it will send a horrendous message, i think every reputable economist says, to stock markets and to the fact that people s retirement savings is under risk. we lost i think retirees lost about $800 billion last time we came this close. all right. but again, if we don t address it now, jake, are we going to have to address it again, are we going to go through it again when we re at more debt. what we ve got to look at is stabilizing this market so we can get it under control so it brings certainty to that market. we hit the debt ceiling in 1985. we didn t raise the debt ceiling, we hit it, we didn t raise it for three and a half months. we re still here. we hit it again in 1995 for four and a half months and didn t raise the debt ceiling, we survived that. we will survive this. a lot of this is media hype. of course you had the market drop about 160 points today. markets are super fluid. i predict that if we get this under control, we are heading in the righ
i m jessica yellin in for erin burnett. outfront tonight, breaking news, stocks dive as the drumbeat to war with syria gets louder. wall street suffered its worst day since june as the obama administration clearly laid the groundwork for a possible military strike on syria. there s no doubt who is responsible for this heinous use of chemical weapons in syria. the syrian regime. the president believes and i believe that those who use chemical weapons against defenseless men, women and children should and must be held accountable. market analyst todd schoenberger is outfront with us tonight. thank you for being here. how much of this market drop had to do with what you heard from the vice president and the president and the