and force fed by the government. that can t continue. they are hoping that this will be enough. indeed. and i know andrew stevens watching it very closely there live from hong kong. many thanks to you. millions of investors have lost thousands of dollars in china s market slide. the new capitalists are learning the downside of stock investment. but ivan watson reports one young investor is optimistic. reporter: school is out for the summer but it s this 17-year-old hits a coffee shop where he gets to work immediately on the day s stocks. he says he first started investing in financial markets when he was only 15. where did you get the money to invest? did your parents give you the money? i borrow from my parents. reporter: a lot of money or just a little to begin with?
just lowly people that will be able to buy the stock. it s $38 now for those who have a lot of money. once they flip it and double it in price and then we can touch it, how much does it cost us? that s the real question. i m not a big stock market guy, but it did stun me that 90% already gone to the wealthy, to institutions. so just a little piece of the pie is left for just regular folks. but i saw some stat yesterday that just today, what mark zuckerberg will make today will make him seven times richer than oprah winfrey. think about that. he just turned 28 years old on monday. wealth. happy birthday. wealth. that s not rich. chs roe tor ho ich 1 o zuckerberg, wealth. wealthy. yeah. that s for sure. the big question on wall street is how long the market slide will last. the dow will open today at 12,442. the index actually lost 156 points yesterday and has closed
july than in june. invesors say there is just a staggering lack of confidence in the economy, job creation and in washington. they re reluctant to invest until they see a consistent positive economic news. bret? bret: there is always tomorrow. rich, thank you. the market slide was not exactly the kind of news president obama was hoping for. at the start of his vacation, on the luxurious martha s vineyard. chief white house correspondent ed henry is traveling with the president and tells us there is a debate whether the president should be taking time off now. good evening, ed. good evening, bret. the fact of the matter is the president never escape responsibilities of the presidency. i was in crawford, texas, when the prime minister of pakistan was killed. that interrupted then president bush s vacation. but the bottom line is a huge drop in the dow was the last thing this white house wanted today. as he wrapped up his three-day tour of the midwest. president obama hopped off the b
we begin with this morning with running out of time. it was a working weekend in washington, as the president met with congressional leaders, trying do come up with a plan on tackling the debt limit. but in a sign of the deep division on capitol hill, two rival plans now appear to be in the works. the for more, we go to nbc s tracie potts in washington. reporter: good morning. we re starting to see some signs that this gridlock in washington is not good for wall street. asian markets opened lower this morning, shaken that washington could be on the verge of its first-ever default. the big question now, how might wall street react this morning? it s unthinkable that this country will not meet its obligations on time. it s just unthinkable that we d ever do that. reporter: a market slide could affect what you pay for mortgages, car loans, financing college. right now, washington is stuck
it was a working weekend in washington, as the president met with congressional leaders, trying do come up with a plan on tackling the debt limit. but in a sign of the deep division on capitol hill, two rival plans now appear to be in the works. the for more, we go to nbc s tracie potts in washington. reporter: good morning. we re starting to see some signs that this gridlock in washington is not good for wall street. asian markets opened lower this morning, shaken that washington could be on the verge of its first-ever default. the big question now, how might wall street react this morning? it s unthinkable that this country will not meet its obligations on time. it s just unthinkable that we d ever do that. reporter: a market slide could affect what you pay for mortgages, car loans, financing college. right now, washington is stuck on the timing. democrats and republicans want