street. you see the dow down more than 400 points right now. cnn s alison kosik and cnn money.com paul is joining me. alison, you first. how big are these losses and what brought on this huge sell-off, anyway? hey, fredericka. the losses are holding steady. the dow down about 436 points. they re off their lows of this session where we saw the dow down as much as 500 points. this is coming after morgan stanley kind of set off an alarm bell saying that the u.s. and europe are looking like they re getting close to going into a recession. morgan stanley also downgrading its growth forecast globally for this year and next. also not helping we got a bunch of economic reports here in the u.s. one on jobless claims showing a rise in jobless claims, the jobs area something that this economy really wants and needs at this point and not seeing. we also got a very weak regional manufacturing report showing contraction and a weak housing report showing sales declined about 3.5%. see wha
hey, fredericka. the losses are holding steady. the dow down about 436 points. they re off their lows of this session where we saw the dow down as much as 500 points. this is coming after morgan stanley kind of set off an alarm bell saying that the u.s. and europe are looking like they re getting close to going into a recession. morgan stanley also downgrading its growth forecast globally for this year and next. also not helping we got a bunch of economic reports here in the u.s. one on jobless claims showing a rise in jobless claims, the jobs area something that this economy really wants and needs at this point and not seeing. we also got a very weak regional manufacturing report showing contraction and a weak housing report showing sales declined about 3.5%. see what you do when you olympic all that together you get a big sell-off and that is what we re seeing right now. frederic fredericka? that as it looks for the dow. let s check out what the nasdaq issing looking ou
those across the pacific time zone. today we begin with out of control. some parts of the u.s. recover from the tumultuous tornado season, arizona is now dealing with a blaise covering more than 200 square miles. residents are evacuating at the state s third biggest wild fire ever rages on. nbc s frances coe reports. reporter: the temperatures and high winds seemed a perfect mix for this historic blaze in eastern arizona, smoke spread as far as new mexico and colorado. that would be horrible. reporter: the fire is a week old blanketing 140,000 acres. on the scene, 1300 firefighters from across the country. but the numbers were no match to mother nature. the column that s up in the air is about two days of being in excess of 30,000 feet. if you have something that large and that huge, it generates its own weather. reporter: not just arizona baking. record shattering temperatures have melted the south and the midsection. the nation up in the north in the mid to uppe
from the tumultuous tornado season, arizona is now dealing with a blaise covering more than 200 square miles. residents are evacuating at the state s third biggest wild fire ever rages on. nbc s frances coe reports. reporter: the temperatures and high winds seemed a perfect mix for this historic blaze in eastern arizona, smoke spread as far as new mexico and colorado. that would be horrible. reporter: the fire is a week old blanketing 140,000 acres. on the scene, 1300 firefighters from across the country. but the numbers were no match to mother nature. the column that s up in the air is about two days of being in excess of 30,000 feet. if you have something that large and that huge, it generates its own weather. reporter: not just arizona baking. record shattering temperatures have melted the south and the midsection. the nation up in the north in the mid to upper 90s. this is catching a lot of folks off guard. reporter: including in chicago where heat and humid
control. some parts of the u.s. recover from the tumultuous tornado season, arizona is now dealing with a blaise covering more than 200 square miles. residents are evacuating at the state s third biggest wild fire ever rages on. nbc s frances coe reports. reporter: the temperatures and high winds seemed a perfect mix for this historic blaze in eastern arizona, smoke spread as far as new mexico and colorado. that would be horrible. reporter: the fire is a week old blanketing 140,000 acres. on the scene, 1300 firefighters from across the country. but the numbers were no match to mother nature. the column that s up in the air is about two days of being in excess of 30,000 feet. if you have something that large and that huge, it generates its own weather. reporter: not just arizona baking. record shattering temperatures have melted the south and the midsection. the nation up in the north in the mid to upper 90s. this is catching a lot of folks off guard. reporter: i