Employees who have been out of work now for months. The Second Quarter Gross Domestic Product plummeted 32. 9 between april and june. Thats almost a full third and its the sharpest decline we have seen in u. S. History. The drop in gdp is nearly 4 times worse than it was at the peak of the financial crisis in the Fourth Quarter of 2008 the previous record was 10 in the First Quarter of 1958. Turning over to the stock market and see how stocks are reacting to this dire news. The dow jones is down by almost 200 points, just a little bit more than that right now. S p is suffering a loss of not quite one half of 1 . The nasdaq is the only right spot if you count the addition of 52 points. Nasdaq is up by one half of 1 . You can see stocks mostly regained their footing after a very steep drop at the opening bell and after we got that labor news. Californias jobless claims were down last week despite a nationwide increase. Our state reported 249,000 workers filed firsttime claims during the
Camera here showing all the overcast conditions but that things are going to start to clear as we get closer of course to the afternoon hours. So what temperatures are going to be very similar to what we saw as a matter of fact yesterday so getting into the afternoon. Its going to be a little bit nicer once we get the visibility better right more sunshine out there couple miles of visibility. Wise for oakland and through hayward through atc are going to get some of the patchy fog. Pretty severed fog here along the coast but already were starting to see Clear Conditions, especially if youre more inland like concord right now, but we are going to see it for everybody as we get closer to midday today. And yes temperature were looking pretty good very even in some versus what we saw yesterday as well and then temperatures anywhere from mild to warm but some hot ones are going to return to us once again all those details coming up in just a bit back to the news, thanks rebecca, lets get to
Have heard the call to defund the police so what happens in the city where they did just that its. An urgent appeal for nearly 200000000. 00 to help people fleeing violence across the south. I normally bollings with the sports news as the few the joshua heavyweight boxing deal comes under scrutiny because of its possible links to include almost crime details coming up later this hour. Hello thanks for joining us a dire picture is emerging of how the worlds 2nd most populous nation is coping with coronavirus india has nearly 300000 cases but the number is climbing rapidly in the Health System is struggling that comes after shops and factories were reopened across the country there are now reports of people being denied treatments and of bodies not being disposed off properly elizabeth purana begins our coverage from the. Hundreds of doctors and hide their bods main hospital for coronavirus patients on strike just one of many protests by Health Care Workers across india a doctor here was
Continues on a global scale. A worldwide their market, the 11 year bull run here is over. The dow is heading to the 22,000 level. A month ago it was 29,000. It is the fastest selloff in history. The s p will hit bear market territory at the open today, down 20 from the february high, the same story with the nasdaq. More money is still moving into safe treasury securities pushing the yield down to 0. 69 as of right now. The latest news on the virus brings its impact home to all of us. Sport dramatically affected. The nba has suspended the season indefinitely. A few days ago they banned reporters from locker rooms. Now the whole sport is shutdown. The Seattle Mariners will not be playing any home games. The early baseball season is in question. There will be an announcement later on the nhl. Social distancing is apparent across the country. You can see it and businesses are feeling it. Theres a long list of conference and meeting cancellations that is barely hurting airlines, hotels and
To begin with. Thank you so much for joining us tonight. Im Justine Waldman and we are tracking the coronavirus outbreak in the bay area and the future of the grand princess cruise ship. That is circling off the california coast. We have Team Coverage tonight kron fours dan store and talked with cruise ship officials about the passengers on board and when and where they could possibly doc. But first kron fours gayle ong has the latest on the new cases just reported today in the bay area gales. 3 women and 3 men are the newest coronavirus cases in San Francisco. Each of them hadnt known contact with the person with the virus and with the situation changing so rapidly City Health Officials expect more confirmed cases. The San Francisco department of Public Health says there are now 6 patients in the city who tested positive for coronavirus this is a indication of increasing circulation of this Novel Coronavirus Deputy Health officer doctor Susan Phillips as the new was cases in the city