Morning. At one point within the first few moments of trading, down more than 1,000 points. Well show you the big board shortly after the morning. Wait for it. Well show you. Here you go. Not often, thank goodness, do you see numbers like this for the Dow Jones Industrial average. Markets in the United States were not the only ones affected. Concerns that chinas growth was slowing down had markets worldwide really taking a tumble. Now well look at actual numbers at this hour again. Down 364 points. Really, this is the real money time, the final two hours, as i mentioned, of the trading day. So far, bouncing back on a day that average investors are certainly racing to check, myself included, your 401 k . So lets begin with our cnn correspondent Richard Quest on the set to explain it to us. Also, alison kosik is joining us from the floor of the stock exchange. Youve been covering the sorts of i believe the front page of cnn money today was a roller coaster. Youve been covering this for years but what are you expecting what should we expect in these final two hours of trading. These next two hours id like to call the witching hours. This is the end of the day and although we did see stocks take a nice breather, id say as little as a half hour ago, the dow made up a lot of percentage. Its going back down now. But ever so slightly. Were not seeing the rush that we saw at the opening bell. Its really anyones guess what will happen at the closing bell. One thing is for sure, these are times that you need a neck brace for the whiplash that we got today. You know, i asked one trader, what the heck happened here today . The dow dropped 1,000 points at the open and made up a lot of ground here today. What happened . Simply, he said, an overreaction. The selling, he called it, was foolish. It was robotic and computer driven. Thats key because you have to think about it. A lot of the trading is computer driven and thats why it happened so fast, in a snap. The problem, once again here, at least at the open, was that we saw investors have a kneejerk reaction to what happened to stocks in china. Not necessarily the economy in china. Yes, there is still fear. Theres a lot of concern about chinas economy slowing down but we saw that dramatic and radical drop of a dow at the beginning of the day, brooke, because it was an initial kneejerk reaction to what happened in chinese stocks overnight. Brooke . Richard quest, let me bring you in. The fact that weve been watching chinas economy in the markets, that wasnt news to me. Oh, except china had suggested in its last official pronouncements, the economy was going to grow maybe 7 . And then we saw manufacturing numbers in china. On friday . Yes. And that suggested much slower. And now you get people saying, actually, its not going to be 7. It may not be 5. It may be as low as 2 or 3 . So thats the reason. But what youre seeing with these markets if you look at the world markets, 9, 8. 5 down in shanghai. London, 4. 6. What you are looking at with all of these is the equivalent of somebody shouting, fire in a crowded poof. Right. And you have to really look, where is the smoke . And yes there is smoke in the Global Economy at the moment. But its been smoking for a while, has it not . Yes. But the fight is something that you realize that there is something going on. This is what we saw. Take a look at this. What you saw here, this very sharp fall at the open, which as alison says is knee jerks, algorithms and then people say, is this justified . We got as low as 99 points or 98 points lower. These final two hours, as you were pointing out, this is the time to really watch . It is. Because you get book squaring and hedges that start to take to the other side of the position that theyve got. Youve got lots of people that dont want to go into tonight with an open book. They dont want to have a position that is open. So they will close it out or they will hedge against it. And then finally, youve got High Frequency volume trading. Look at the dow 30 at the moment. A couple of hours ago we had a row of green at the top. Now weve only got intel. One. Which is green. Apple has given back all of the gains it saw during the course of the day. Weve still got the where is microsoft . Microsoft is right there. Microsoft has definitely turned during the last couple of hours and 3m has come up. Its fascinating to see what is happening in this market. May i hit pause with you for a quick second . Yes. I appreciate your enthusiasm but i have former chief economist. Ken, ive been sitting here talking to Richard Quest who knows well, as do you, when we look the a the final two hours of the trading day, how do you read this and how should we americans read this . Well, i think the news is still coming out of china where there is fear that the chinese slow down is more dramatic, maybe a hard landing that is going to ricochet all over emerging markets. You know, europe, japan and the United States are not doing badly but its risky politically. This is a moment, really, thats been coming for 15 years. The big china slow down. And if it comes, its going to be really dramatic. I think if it happens, the hard lining in china, we havent seen the worst of it but its a better chance of 50 50 thats its not going to happen. It will calm down. Im wondering, this is all interlaced and connected 100 but i keep hearing experts on today saying there has been a bullish market and this correction was overdue. What does that mean . Well, what it means is that nobody has any idea quite what it should be. Professor, i expect you to have all of my answers. Well, yeah. And so a lot of american firms get profits from abroad so you see a slow down in china. You know, it ricochets all over. But i think it also means some sense of fear in the market. That it could get much worse. The other shoe could drop. I think even in the worst case, americans will be relatively insulated. It will hurt but i dont think its going to turn into a u. S. Recession but its not good for companies, certainly not a good thing and the political instability is not a good thing. But i wouldnt confuse the stock market with the economy. With the economy. Right. Not at all the same thing. Jump in, quest. Ive got a question for ken. Ken, whats the ability of the chinese to actually stem this . Their attempts to stem the market a few months ago, a few weeks ago failed. Have they got fire power sufficient . Well, they have a lot of fire power. They have trillions of dollars in reserves that they can use to bail out the banks, bail out their financial sector. But you have to remember, richard, they actually want this to happen a bit. They want the economy to normalize. They are actually trying to engineer a slow down. But its very hard to do. Its very hard to have a slow down without a collapse. But i dont think they are just going to back off. I think they were meaning to slow the economy down, to reorient it. So just like our Federal Reserve isnt going to necessarily immediately change its mind about everything, although they should look at this, i think the chinese authorities are still having to wait and see attitude themselves. They have a lot of firepower. Of course, if they wait long enough, it could still get out of hand. Im glad you brought up the fed. Well get to this later but what about the Interest Rates . Janet yellen said they would raise it. Will that change . Now that were watching what were watching. Ken rogoff, thank you so much. Richard quest, i need more of you. You do . Yes, i do. Youre the best. Thank you so much. Alison kosik, thank you so much. Well be watching them through the final two hours of the trading day. But coming up next here on cnn, a massacre averted. Three brave americans honored as heroes today in france and really all around the world taking down this gunman on the highspeed train bound for paris. This, as we learn more about the intentions of the suspect who had multiple guns, ammunition. How vulnerable are soft targets like trains in an attack like this . Well talk about that. Also, really one of the local questions of the day, the biden question, if i may, will he run . Speculation mounting after the Vice President s secret meeting over the weekend with Elizabeth Warren. Secret no more. And the white house is weighing in on a possible president ial endorsement. Also, a Major Development in the crisis between north and south korea. A break in the standoff and what the u. S. Military was prlanning to do if it escalated. Youre watching cnn. Stay right here. And get us energized im new ensure active high protein. 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Liberty mutual insurance. Youre watching cnn. Im brooke baldwin. Heres a quote. They saved my life. Those are words from a passenger on the parisbound train regarding the three american heroes awarded frances highest honor today for stopping a massacre. The gunman identified with possible ties to a french isis cell is now claiming it was a robbery, not a terror attack. But police say this man was fully loaded when he emerged from the bathroom. Within minutes, he was hogtied and unconscious, taken down by a br british man and three quick thinking americans. The bloody aftermath showing one of the americans on the ground injured and above him here, the gunman. Shirtless and restrained with a necktie around his feet and ankles. But the men are humble about the entire ordeal. I just woke up from the middle of deep sleep and my friend anthony alek was sitting next to me. Anthony was across to my right side and i turned around and i saw he had what looked to be an ak47 and it being looked like it was jammed or wasnt working and alek hit my on the shoulder and said, lets go. Ran down, tackled him, hit the ground, alek came up and grabbed the gun out of his hand while i put him in a chokehold. It seemed like he kept pulling more weapons left and right, took out a handgun. Alek took that. He took out a box cutter and started jabbing me with that. We let go. All three of us started punching him while he was in the middle of us. And then i was able to grab him again and choke him unconscious while alek was hitting him in the head with the pistol or rifle. I cant really remember. It wasnt really a conscious decision. We just kind of acted. There wasnt much thinking going on, at least on my end. Hiding or sitting back is not going to accomplish anything and the gunman would have been successful if my friend spencer had not gotten up. Joining me now, live from paris, martin savidge. Also with me, julia cayamm. Martin, to you. Its incredible to hear from these men themselves but also the details, including the fact that they were in a train car they were not supposed to be in but there were wifi issues and they got up to move. Its incredible, the details. Reporter it is. This shows you the modern age in which we live and that the reason that these three men ended up putting themselves at harms way was because of the wifi. The signal in one train car was not too well so they moved to train car 12 where this went down. You could say unfortunately or fortunately that they had to move. That put them in the right place at the right time. Its Alek Skarlatos just out of afghanistan, hears that gunshot, instantly recognizes the danger. Spencer stone, his air force buddy is next to him. Hes charging down the aisle and headed towards the gunman. They all three pile on and aided by a british. This was on a highspeed train thats doing close to 200 miles an hour. They not only prevented a massacre but a huge disaster as well and they say, ah, it was part of the days events. Juliette, i know your lead line that you wrote for cnn. Com, you said, if i ever find myself in trouble, i hope the three of you are close by. You make a point that a lot of time, be it a train or of course the hallowed words spoken by todd beamer, ill never forget his words on 9 11, lets roll. And then you have the other situation, an active shooter where you point out really the best piece of advice is to run. Yes. I was just going to all of our reactions are going to be situation dependent. When youre in a confined space like a train, what they did was absolutely appropriate and heroic and admittedly lucky given that the terrorist had some problems with the gun jamming. Both guns jamming. But in active shooting cases, a lot of the training that we do, get the heck out. In other words, it used to be if you remember columbine, students were told to stay put. That leaves them a sitting duck. Its all going to be sitting duck. In this case, the Lessons Learned is that the train needed to stop and it didnt stop fast enough. In fact, if we look back, well learn that the train personnels response was way too slow. If you can get people off the train by stopping and getting them out of the compartments, youre going to save a lot of lives if our american heroes had not been able to detain the terrorist. Another point i heard from one of the heroes, Alek Skarlatos, pointing out how the assailant had some other pistol and according to one of these according to alek, he had a box cutter and eight rounds of ammunition. They also said he clearly had no Firearms Training whatsoever but if he knew what he was doing and got lucky or did what they wanted to do, he could have gone through all eight of those rifle magazines. Again, we dont know, were trying to learn more about this person and spanish and french authorities had a flag that apparently were learning turkish intelligence didnt have him flagged. If he had all of this firepower, but apparently didnt know how to use it, what does that tell you about this sort of new i dont know if its a new age of terrorism but clearly inspired but didnt know how to follow through, how do you read that . So, i mean, i think we have to get rid of the word lone wolf now and these are what we call the known wolves. These guys are actually appears on a variety of watch lists throughout europe or middle east or turkey. But they are not sophisticated in terms of the training that theyve gotten. So they are falling in between people who dont get into trouble and those that we know are getting sort of formal training. And that there are too many of them. Thats the challenge now. So the good news is, they are not very sophisticated. They are not well treained. The bad news is, theres no system that we can perfectly protect ourselves from this type of terrorism. They are going to appear in different places and all you can do is minimize the risk, train people to respond and hope that their lack of sophistication helps save lives. Not a lone wolf. A known wolf. Juliette kayyam and martin savidge, thank you. Donald trump saying hes the man that america needs. And things on wall street are getting messy. And also ahead, will the Vice President run a democratic source with close ties to his inner circle reveal to cnn which way the Vice President is leaning . Well discuss that coming up. Thankshow may i help you . S list. I heard i could call angies list if i needed work done around my house at a fair price. You heard right, just tell us what you need done and well find a top rated provider to take care of it. So i could get a faulty light switch fixed . Yup or have a guy refinish my floors . Absolutely or send someone out to groom my pookie . Pookies what you call your . My dog. Yes, we can do that. Real help from real people. Come see what the new angies list can do for you. The morning market selloff and midday bounce back is drawing attention of the president ial frontrunner and theres new talk about the political plans for Vice President joe biden. I have ryan lizza joining me and john avalon, the editorinchief of the daily beast. Two of my favorites. Im so lucky today. Gentlemen, welcome. Nice to have you on. Good to be here. Hey, brooke. Ryan lizza, to you first. Lets talk trump. And then i want to move to biden. This is what he posted to instagram earlier today. Ive been telling everyone, china is taking our jobs and money. Be careful, you have to know what you are doing. We have nobody that has a clue. Listen, ryan lizza, hes quick to jump on this. Hes a businessman and quite successful. Is this going to work for him . Look, he can claim that what is going on in china is related to the market plunge here. Like a lot of his statements and policy ideas, theres always some superficial appeal and credibility to what he says. So look, hes making a case here that ties into the arguments hes made previously and we dont have candidates out there explaining why the market is dropping. What happens is that trump talks about one of these issues, makes a claim and on closer inspection it falls apart. Do you think that is going to happen here . I dont know. I think a bad economy is Donald Trumps friend. When hes bashing china, when the economy is bad in the United States, those policies and those arguments take off in this country. Weve seen it before. So i think if this market fall continues, thats a good thing politically for donald trump. You mentioned immigration which jogged my mind as a reminder to viewers, jeb bush will be on the border and will take some of that live next hour. Stay tuned for that. John avalon to you, i want you to get to the news about joe biden. Hes probably had his weekly lunch with the president. Wouldnt we all love to be a fly on that wall . We know that he met with senator Elizabeth Warren over the weekend at his home. So that happened and then job earnest spoke about it. Lets go to that. The president has indicated that the decision he made seven years ago now was the smartest decision he made in politics and that gives you the president s view of the Vice President s aptitude for the top job. If the president does plan to vote in the illinois primary, and ultimately it will be democratic voters but i wouldnt speculate at this point about whether or not the president would offer an endorsement. I wouldnt rule out an endorsement for Bernie Sanders or the possibility of the democratic primary. John avalon, whats going on here . Well, its good to know he supports the democratic nominee. The president has to walk a tight line here. This is as close to a coordination that you get, particularly on the democratic side. As shes taken on a lot of water about questions about honesty and Bernie Sanders is ursurgingn the polls, the president is not going to throw his vp under the bus. Thats not going to happen. But there are real concerns about how strong a general candidate can be. Its one of the factors he has to figure out, they dont represent divergent wings of the party but the president is going to try to stay away as far as possible and say nice things about both. If it comes to the winnings, youve got to look at who is in the best position to win and biden has a halo effect. Heres my question. Ryan, ill put this to you. Who is really creating the biden option . Is it joe biden and those who believe in his heart of hearts hed like to go through this again and try to sit in the oval office or those who are now sort of getting cold feet, perhaps over the Hillary Clinton option, therefore would switch their support and get in the race . Its biden and the media in washington who the biden people close to biden are leaking to. I mean, look, as a reporter covering this race, i would love nothing more than for joe biden to get in this race. It would be a lot of fun to watch Hillary Clinton and joe biden debate the issues that they debated in the obama issue but lets just on the facts politically, there is no clamoring among the democratic base, among the Democratic Party elite for joe biden to get in this race. Hillary has already locked up more than half of the sitting democratic members of the house and the senate you cant find a single prominent official who is saying i dont want hillary, i want joe biden. Frankly, i think this is skittishness by democratic operativeness in washington and probiden people worried about the scandal going on with the emails and i think is really the insurance policy if theres a catastrophic collapse of Hillary Clinton. John avalon, final thoughts . People want to see a conflict but only true believers believe it will change the outcome. Thank you both. Thanks, brooke. Coming up next, north korea and south korea striking a deal after being on the brink of allout war. Members at the pentagon reviewed a potential war plan for defending south korea if the situation got out of control. Those details are ahead for you. Stay with me. We stop arthritis pain, so you dont have to stop. Because you believe in go. Onward. Todays the day. Carpe diem. Tylenol® 8hr arthritis pain has two layers of pain relief. The first is fast. The second lasts all day. We give you your day back. What you do with it is up to you. Tylenol®. No sixth graders ever sat with but your jansport backpack is permission to park it wherever you please. Hey. Thats that new gear feeling. This week, these folders just one cent. Office depot officemax. Gear up for school. Gear up for great. You premium like clockwork. Month after month. Year after year. Then one night, you hydroplane into a ditch. Yeah. Surprise. Your Insurance Company tells you to pay up again. Why pay for insurance if you have to pay even more for using it . If you have Liberty Mutual deductible fund™, you could pay no deductible at all. Sign up to immediately lower your deductible by 100. And keep lowering it 100 annually, until its gone. Then continue to earn that 100 every year. Theres no limit to how much you can earn and this savings applies to every vehicle on your policy. Call to learn more. Switch to Liberty Mutual and you could save up to 509. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. 1,000 points in the red this morning and the dow cut major losses in the matter of seconds at its open. A huge plummet in stocks that brought back fears of the 2008 financial crisis. Todays losses started in china in the second biggest economy stemmed worldwide selloff over fears of the markets there. Cnn money correspondent Cristina Alesci is joining me now from the new york stock exchange. This is a crucial final hour and a half of the trading day. Tell me what is going on. Well, its a lot calmer now, as you indicated. Were 350 points down, which on an ordinary day would be terrible, but we started with a 1,000point drop this morning. Its much more rational and calmer on the floor. This, as you mentioned, is all sparked by concerns of Global Growth specifically. Specifically in china, it has been such a growth engine. Not just for that country and the s p 500 is a Broader Market index, those earnings come from china and from the emerging markets. So brooke, thats the Ripple Effects that people that is a Ripple Effect that investors are paying attention to. And because we had a stock market crash in china, that means a 40 drop from the peak, now investors are trying to make sense of all of this, raising questions like, is china potentially heading for a recession . What dont we know about the chinese economy because we dont trust the data . These are the things that the market professionals are looking at and parsing very closely. And some would say, well, we knew all of this months ago. Why today . All i can tell you, brooke, ive been covering the markets for years now and this is the way markets work. Theres not much rationale behind these moves other than when fear takes hold, as Richard Quest said, all it takes is one person to shout fire and it just catches on. Thats exactly right. Psychological in how each market feeds upon the next. Well talk to Richard Quest at the top of the hour. Cristina alesci, thank you so much for now. Just in here to cnn, a deal has been reached and it seems war with the u. S. Ally has been awarded for now. South korea and north korea signaling a ratcheting up of tension like we havent seen in years. But after days of marathon negotiations, the two countries who are technically still at war have just struck a deal to end the standoff. Cnn has also learned that the tensions between north and south korea prompted the pentagon to dust off its own war plans in south korea needed defending. Barbara starr is live at the pentagon. They were so concerned they were examining how they would defend north korea even if something would escalate. What was decided . I have to tell you, brooke, behind the scenes it was a couple of days of high drama. U. S. Intelligence began late last week to say the north Korean Military mobl lilization not what you want to see. They were noticing defense radars had been activated, the kind that could see incoming aircraft. If that was in the works, artillery moved closer and some of it on the move. Signs of a potential scud Missile Launch and even more concerning, dozens of north korean warships and submarines putting out to sea. All of this put together pointed along with the rhetoric with the north a real concern and what the pentagon did was take the plan off the shelf and have a look at it and talk to the South Koreans about what is going on. Perhaps pressure to the South Koreans to try and cool things down because nobody would have wanted to see this escalate further. But make no mistake, top commanders looked at the war plan, we are told, and one more time over the weekend reviewed if it had gotten more serious, more of a mobilization, if north korea had done something, what u. S. Troops they would have had to activate, what would have had to have been sent over to the peninsula very quickly. By all accounts, all of this avoided now by this peace agreement. But behind the scenes, we now know the level of drama behind it all. Brooke . Drama and preparedness. Barbara starr, thank you so much at the pentagon. Coming up, people from all around the country traveling to plains, georgia, lining up to witness former president jimmy carter announcing that he has cancer. Someone called his class beautiful. First, another act at the hands of isis. The terror group rigging a 2,000yearold temple with exclusives and blowing it up. What syria is now trying to do to save these precious and priceless relics. I hate cleaning the gutters. Have you touched the stuff . Its evil. And ladders. Sfx [screams] they have all those warnings on em. Might as well say. youre gonna die, jeff. you hired someone to clean the gutters. Not just someone. Angies list helped me find a highly rated Service Provider to do the work at a fair price. Everyone can shop, but members get more with reviews, live customer support, and better pricing. Come see what the new angies list can do for you. Ive got a nice long life ahead. Big plans. So when i found out medicare doesnt pay all my medical expenses, i got a Medicare Supplement insurance plan. [ male announcer ] if youre eligible for medicare, you may know it only covers about 80 of your part b medical expenses. The rest is up to you. Call now and find out about an aarp Medicare Supplement insurance plan, insured by unitedhealthcare Insurance Company. Like all standardized Medicare Supplement insurance plans, it could save you in outofpocket medical costs. Call now to request your free decision guide. Ive been with my doctor for 12 years. Now i know ill be able to stick with him. [ male announcer ] youll be able to visit any doctor or hospital that accepts medicare patients. Plus, there are no networks, and virtually no referrals needed. See why millions of people have already enrolled in the only Medicare Supplement insurance plans endorsed by aarp. Dont wait. Call now. A syrian temple built nearly 2,000 years ago, now a pile of rubble that was blown up. This is what the temple looked like before it was destroyed. In the past, isis has gone after smaller structures and statues claiming they were encouraging the worship of false idols. But some say this is the way for the terror group to gain more notoriety. Lets go to our Senior International correspondent ben wedeman. It makes you sick to your stomach what these terrorists have been doing but can you explain to me why you think they are doing this . Reporter well, i think, brooke, its for the shock value, that they want to show those their supporters around the world or those who might be supporters just how farther willing to go to get across their message of utter anilism, that they will do anything to show that they are more muslim than anybody else. Isis took over the city palmyra in may. This is the first site thats been destroyed but they have killed, executed hundreds of people since then. Just last week, the 82yearold former head of an tech quit teas who served in that position for years, they apparently tortured him for an entire month hoping to find out where the antiquities they thought were hidden in that city and last month we saw as isis brought out 25 syrian soldiers and had them executed by what appear to be teenagers in the citys ancient amphitheater. Basically, they see this as another opportunity put on this spectacle of barbarity that doesnt have any end. Brooke . I spoke to someone who had known that 82yearold for 25 years and the way he spoke about him and the fact that this man would not give up where these antiquities were and treasures speaks volumes about who he was and the passion for this part of the world. Ben wedeman, thank you. Coming up here on cnn, after taking a steep dive this morning, will the markets make a full recovery in the final hour of trading . Well go live to the floor of the new york stock exchange. Former president jimmy carter spoke in front of his packed hometown church. Here he was Teaching Sunday School after telling the world about his cancer fight. Hear from a man who was willing to camp out overnight for a front row seat. Yes, we are twins. When i went on to ancestry, i just put in the name of my parents and my grandparents. I was getting all these leaves and i was going back generation after generation. You start to see documents and you see signatures of people that youve never met. I mean, you dont know these people, but you feel like you do. You get connected to them. I wish that i could get into a time machine and go back 100 years, 200 years and just meet these people. Being on ancestry just made me feel like i belonged somewhere. Discover your story. Start searching for free now at ancestry. Com. You premium like clockwork. Month after month. Year after year. Then one night, you hydroplane into a ditch. Yeah. Surprise. Your Insurance Company tells you to pay up again. Why pay for insurance if you have to pay even more for using it . If you have Liberty Mutual deductible fund™, you could pay no deductible at all. Sign up to immediately lower your deductible by 100. And keep lowering it 100 annually, until its gone. Then continue to earn that 100 every year. Theres no limit to how much you can earn and this savings applies to every vehicle on your policy. Call to learn more. Switch to Liberty Mutual and you could save up to 509. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. A Louisiana State trooper died today after being shot by a driver he had stopped to help. Police say Trooper Steven vincent stopped to assist a man whose pickup truck was stuck in a ditch. Authorities will give an update at the top of the hour. We will bring you the news live. Let me move along and talk about jimmy carter. For him, it was just another sunday school class, just like the nearly 700 sunday School Classes he has taught through the years at his church in planes, georgia. Sundays lesson came, of course, days after the former president told the world hes suffering from advanced cancer. By the way, did i mention, hes 90 yours of age. So many people showed up. A lot of them had to sit in a spillover area in a nearby auditorium. The president came by later and spoke to them in person as well. Among those, he traveled to plains for sundays class is ron light from columbia, south carolina. Thank you for coming on. Youre welcome. I know you had made the trek to plains before to see him. You know, did you actually decide to make this trip before we all learned about his battle with cancer but i understand you were so enthusiastic about your desire to go and sit in that front row that you were willing to camp out overnight at the church. Thank goodness you didnt have to do that. Tell me why it was so important for you to be there. Well, when i took my mother and my son approximately 11 years ago, we took her as a christmas present. She was an avid jimmy carter fan. We went to the church at 6 00 in the morning and we were not first in line. We were second. But fortunately, we still got a front row seat and its fantastic to be so close to the former president while Teaching Sunday School. On this trip, i had planned to make my wife for her birthday, which is this wednesday, and i wanted to have her to have the same experience. And when we went to the church that night after dinner and all the media were setting up, i just decided that at that point i was number one in line and there was only one way to remain number one in line and that was to stay there until the rest of the night until the next morning. Thats when i made my decision. Thats when you made your decision. You wound up inside. I understand you got that front row seat, you and your family. Can you just tell me, what was it like sitting in there on being so close to the president . How does he seem . He seemed well. Hes lucid, intelligent, he takes the class lesson out of the baptist special guide. Its not a special preparation that he has. It was what the subject was for the week of august 23rd and he did very well with it. What was a moment for you and your wife, youve gone home and shared with your friends . That hes so accessible. Hes just an authentic person. What you see is what you get. You know, hes not like most or many of the expresident s. He makes himself accessible to people locally, nationally and throughout the world. And just even being part of it, reading about it this morning and how it was over capacity by several hundred people, i know you didnt have to be in the spillover area but as you left sunday school, what you know, did you talk to others . I mean, what were what was their takeaway . What was that like for so many who made that trek as well to plains . Everybody felt the same way. Everybody was just heard the cancer diagnosis and came on a lastminute trip but there were many people who, like us, had already planned the trip and that the diagnosis and the announcement didnt have any factor in the decision of making the trip. Special weekend for you and your wife who had the birthday. Ron lipe, thank you for joining me. Thank you. We continue on. Top of the hour. Youre watching cnn. Im brooke baldwin. We are now 60 minutes away from that closing bell. Lets look at how the day started. Take a close look and youll see a picture you dont often see. The numbers are quadrupuled down in the first hours of trading. The u. S. Was not alone. Concern of chinas growth is slowing down, sending markets into worldwide free fall. Its down 644 points. This is the time, this is when you could see the volatility, the final 60 minutes as people are buying and selling at the new york stock exchange. Whats the mood there . As you said, were seeing the dow drop a little more as each passing minute goes by. Very different, though, than what happened this morning when traders said they were in absolute shock when they saw the dow drop 1,000 points, a little over that when the opening bell rang. Many traders are telling me that was a lot of overreaction. One saying that the selling there at the open was foolish and rebottom particulobotic and. The dow is dropping down 651 points. Its that electronic or computerdriven trading that is moving things so fast. Keep in mind, the opening bell, when we saw the dow drop so hard and fast, a lot of that may have been a reaction to what happened to the Chinese Market overnight. Its main index fell 8. 5 . So that reaction may not have necessarily been about chinas economy. Keep in mind, though, there is still a lot of concern, a lot of worry and a lot of fear about what is going to happen as the chinese economy doesnt pick up speed. Weve seen the Chinese Government try to get involved and devalue its currency and get in there and prop up the markets. None of those efforts have worked. Thats beginning to really worry wall street. It all came to a head on friday, brooke, when the big manufacturing report came out of china showing the biggest drop in manufacturing that that country has seen in 6 1 2 years. Brooke . Lets stay in close contact. Well monitor the mood that you describe here as the numbers take a tumble. Alison kosik, thank you so much. Let me bring in Richard Quest and joanne lipman. The numbers were hovering around 3, 350 a couple of hours ago and you said this is when we get into the tricky territory and were getting closer to the 4 00 closing bell. What are you looking at . Im looking at the way the market has moved throughout the course of the day. You have a very sharp thats the drop. At the open and middle of the day that doesnt do much where people are clearly looking for any form of direction or looking for any information, any particular reason to go one way or the other. In the absence thereof, as the day comes to an end, you start to see the selling. And it would not surprise me if the selling accelerates into the last half hour before because people do not want to go into tonight with money on the table or being long in position. Do you agree . I do agree. Theres a lot of nervousness right now about china in particular because so many of the major companies, particularly all of the companies in our indexes, are looking toward you can hear them talk about where is the expansion and they are all talking about china. There is some concern if china slows down, what happens to them. Right. Volume is very high as well today. The nyse composite at 3. 4 billion shares changing hands. Thats running 90 above the august average. This is not mom and pop moving their 401 k s. These are fast computer algorithms moving into the market, adapting to minor moves and moving out again. So much of this is about china. Weve been watching china for a while. Alison mentioned the manufacturing report that came out on friday. What doesnt china step in. China has tried to step in. It stepped in on friday and i think the concern is, china doesnt have the same history that the United States does of these open markets of a consumer driven market. And so it doesnt have the experience and you add to that the fact that china is an opaque country to us. We just dont understand it as well as we would like and as well as we understand our own economy. Look at that china economy. Look at it. Look at how the market has gone up in china. So take yeartodate. Today was the first time that all of the games for the yeartodate had disappeared from the shanghai market and the dax market in germany, which is the equivalent of the dow, that went into bear territory. So thats now a loss of 20 . Help me understand, this is someone who says i have money in the market, im sure we all do to a degree. I dont watch as closely as you two do. Weve been in the bullish market. This is okay long term, this is okay, this is market correction. Can you please try to make me feel better . Im with the people watching and im nervous. Heres the thing. Dont panic. That is the main message. If youre an individual investor, you have money if your 401 k and dont need it until tomorrow or next week, dont even look. Dont even look. If tur heading towards retirement, you have been rebalancing your portfolio or you should have been for some years away from more risky and towards safer bonds and, look, it is very nerveracking to see markets and to go home tonight and work out money that you are lesser on friday or monday. But you have to look at the map, in the longer term, the market evens out. Can i add some Historical Perspective here . Sure. In 1987, which is when i was a reporter, the market crashed and everyone thought it was the end of the world. Fast forward to 2008, same thing. Who are the biggest losers in those periods, its people who panicked and took their money out. Everybody else who stayed in, the markets rebounded and did very well. Dually noted. Blinders on. Not looking at my numbers anytime in the next few days. Joanne and richard, thank you. Were watching ooh. Were looking at these pictures for the first time here. This is queens where a bus im trying to see what kind of bus it was. Cant quite tell. Crashed headon into a building. Were told there were about 40 passengers on the bus. We do know the driver of the bus was trapped. But firefighters and rescuers managed to pull him out. Were waiting for word, of course, on injuries. You see multiple ladders near the bus helping folks get out to safety. Well keep an eye on queens, new york, and as soon as we get more information, well figure out the building and the people inside, et cetera. Coming up next on cnn, this massacre averted. Three extraordinary americans honored as heroes today in france taking down a gunman on this highspeed train bound for paris as we learn more about the intentions of the gunman. And one month after donald trump went down to the mexico and u. S. Border today, its jeb bushs turn. Is all of the talk on immigration because of trump . Also, what about the news of joe biden today . Well explore all of that coming up. Welcome to fort green sheets. Welcome to castle bravestorm. Its full of cool stuff, like. My trusty bow. And free of stuff i dont like. We only eat chex cereal. No artificial flavors, and its glutenfree. Mom, brian threw a ball in the house vo you can pass down a subaru forester. dad shes all yours. vo but you get to keep the memories. Love. Its what makes a subaru, subaru. Okay funs over. Aw. Aw. Thirsty . They said it would make me cool. They dont sound cool to me. Guess not. You got to stick up for yourself, like with the name your price tool. People tell us their budget, not the other way around. Arent you lactose intolerant . This isnt lactose. Its milk. Youre watching cnn. Im brooke baldwin. We now have new details about what it took to stop this mass is customer onboard a parisbound train. Three americans and a british man were praised as heroes after tackling the gunman who emerged from the trains bathroom with ammunition, weapons, including an ak47. He apparently was not equipped to use, according to one of the americans who took him down. His gun jammed. Clearly he had no Firearms Training whatsoever and, yes, if he knew what he was doing or even just got lucky and did the right thing, he would have been able to operate through all eight of those magazines and we would have all been in trouble and probably wouldnt be here today along with a lot of other people. So one of the updates were getting now is the suspects attorney is saying, no, this wasnt a terror attack. He says his client was hungry and this was simply an armed robbery. Authorities may have found concerning ties to terror. Let me bring in paul cruickshank, our terrorism analyst who has given a lot of details. You just got off the phone with investigators. What did they tell you . That they are trying to map out his extremist networks. They havent yet figured out where he got his weapons. They are still working on that around the clock to try and figure that out. But theres a lot of scrutiny on a trip he made to turkey. Yes. Talk to me about that. They say that he took a flight from berlin to istanbul in may of this year. They believe he was doing that probably to go and try and join isis in syria. One lead line of inquiry is whether he connected at some point with a group of french isis operatives in turkey who previously directed an algerian student to launch an attack on paris churches and discuss with that student the possibility of attacking passengers trains. So they are looking at all of that trying to figure out who exactly he was connected to. But they are looking at the isis thing very closely now. You just heard the sound bite from one of the americans, alek, who was saying he didnt know how to fix the jammed gun. He didnt have Firearms Training. Did does that tell you perhaps he did not get training, did not get into syria. Thank goodness, for everyones sake on board that building. He seemed to be more amateur and didnt quite know how to fire the gun fix, the jam in the gun suggested that he was not somebody who did a lot of fighting and somewhere like syria. There is concern that there are trained killers in europe, up to 6,000 european extremists traveling to syria and back. Dozens and dozens still at large. A worry that one of them may strike at any moment. He was in turkey perhaps meeting with a french cell . Was he loosely affiliated with a french cell . Well, they are looking at that possibility very, very closely. They do believe that there is this group of french operatives who are present in turkey. What they are trying to do is redirect these european extremists and telling them dont bother going to syria. Go back home and go back to france, launch attacks there for isis. We want you to do that. Find any way possible. And so that is a greater concern now to officials that turkey is a staging ground for terrorism. Paul cruickshank, thank you so much. Jeb bush visiting the u. S. mexico border joining the list of candidates talking about Border Security and immigration. One of the questions were wondering, isthisall because of donald trump . Jeb bush is expected to talk moments from now. Youre watching cnn. I know how dangerous iran is. They trained and supplied insurgents who killed my. Brothers and sisters in iraq. We cannot let them get a nuclear weapon. The tough deal on congress desk blocks irans path to the bomb. It keeps america safe. And if they cheat. We will catch them. And if we have to stop them the hard way, we will. But we should learn from the past. Congresssupport the deal. Toenail fungus . Seriously . Smash it with Jublia Jublia is a prescription medicine proven to treat toenail fungus. Use jublia as instructed by your doctor. Look at the footwork most common side effects include ingrown toenail, application site redness, itching, swelling, burning or stinging, blisters, and pain. 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The dow jones is down 636 points. After the opening bell, it plunged some 1,000 points. In the red today because of the rattling over chinas economic slow down and selloff. And so we really all want to see what it looks like, that picture at 4 00 eastern for a lot of you, i know. Stay tuned. Much more Coverage Today on the markets. But lets talk politics. Right now, republican president ial hopeful jeb bush is talking Border Security and the immigration situation and getting a briefing from officials in texas. Were watching and waiting to see jeb bush. Can you just tell me, why did he choose to take this trip . Reporter you know, brooke, its obviously going to be a very crucial move here and visit for Jeb Bush Campaign because this is essentially one of the centers of this immigration debate and already even without him making his first public appearance here, weve been able to see the punches flying. This morning we heard from the local Democratic Party chair here responding to bushs use of that controversial term that weve been discussing, anchor baby, and saying disgusting and calling on bush to apologize to millions of u. S. Citizens, immigrants and the latino population back here in texas. The main discussion here is expected to focus around Border Security and immigration here in mcallen, texas. We were here last summer where we saw 60,000 undocumented and unaccompanied children pouring across that border. It became an issue not just here but across the country. Now former Florida Governor is speaking to border officials. Whats interesting is you 6 miles south from where im standing and youll be overlooking the rio grand and mexico. People ask why that is on the agenda. The Bush Campaign saying that he is very familiar with the dynamics of the border and a visit to the actual border itself. Today it isnt necessarily the candidate is fully aware of what is happening. Im going to ask you to stand by. Were watching and waiting to see the microphones dip in and well see jeb bush. Let me bring in buck sexton and margaret hoover, republican consultant joining us here at cnn. So great to see both of you. Ladies first. I want to ask you about this move. Obviously immigration has been a big issue. If donald trump was sitting here, allow me to channel him i want to see this. Hearing him so much, i think we would hear him say, hes driving the agenda, hes talking about immigration so everyone else is talking immigration. He feel like one could say, is this just a move out of the donald trump playbook . And ben carson was at the border a few days ago and now jeb bush is there. Whats going on . You mean donald trump . Donald trump. Jeb bush wrote a book about Immigration Reform called immigration wars in 2014 and has been talking about this issue for a long time. Hes married to a mexican woman. Hes intimately familiar with the challenge. Its crazy for donald trump to truly believe that the only reason people are talking about this is because of him. People have been talking about immigration for a very long time. George bush tried to push it through the senate in 2007. Multiple republicans have run on Immigration Reform. Marco rubio, another candidate for the presidency, formed a through the senate two years ago. What is new is a celebrity putting their name behind Immigration Reform. Marco rubio learned the hard way when you decide youre going to have a path towards citizenship which conservatives refer to a path towards amnesty. I dont think hes going to do himself any favors talking about how now hes the antitrump. Last week he said answer kor baby. He felt like he needed to give some credentials and the fact of the matter is that donald trump has exposed that most of the gop candidates when they talk about this issue, they are always talking about visas, expanding these programs, making them better. They dont talk about enforcement. If you dont talk about securing the border, conservatives dont want to hear it. You know who doesnt want to hear what donald trump is suggesting . Lets think about what Donald Trumps solution looks like. Get everybody out and here we go. Number one, get everybody out, build a wall, you can put my name on it if you want to. Do you know what that looks like . It is the federal government kicking in doors in american homes, taking people out of their beds and taking them over the border and bumping them. Thats fundamentally unamerican thing i can imagine. But the law already says much of what donald trump is suggesting should have already been done. This is one of the big problems we have here. Cross allows the laws to be here in the books. If youre here illegally, you are to be deported. There are severe penalties for that. I love how we started about jeb bush and we started doing the reason that trump sucks all of the oxygen out of the room, he speaks about it openly and honestly and they have been told for years to secure the border republicans now in the Midterm Election once again on this issue we look at this and say theres one guy who is saying enforce the law. Its more of the same. Heres what is pandering. What is pandering is oversimplifying it and you can get rid of 11 Million People who have been here for a decade. The problem with trump is its not actually a feasible solution. Its not something that could be implemented in a way that is all american or consistent with our values. You just cant do it. And so its the sin of oversim pli flying something that is inherent. Theres an agreement that there should be a secure border. Its a question of what the numbers are and what laws on the books will be enforced. Employers are not supposed to higher illegals. People are not supposed to stay in this country and get benefits. That is not enforced. The reality is its swept under the rug and republicans do it because of the chamber of commercial and other groups who want to benefit and we are either open borders or we have to tell them that they cant stay. Well see how jeb bush take this is on. Heres what else i wanted to move along to. This joe biden option. Heres what i wanted to know. We know that he had a meeting at his home over the weekend. We have a sound bite, i believe, guys. President has indicated his view that the decision he made i guess seven years ago now to add joe biden to the ticket as his running mate was the smartest decision he made in politics. That should give you a look at Vice President bidens aptitude for the top job. So to you, sir, who would make republicans more nervous to be the democratic nominee . Would it be joe biden or would it be Hillary Clinton . Assuming what goes on, the emails as they are going through all of this they dont have classified material that somehow it seeps into the american consciousness and its not a criminal thing. I also believe the Clinton Foundation could become to be an issue. Joe biden is a heat shield. He could take away the criticism and clinton i think is still the bigger threat. When you think about the most people who are tuning in right now are people like us. They are sick in the head. They are junkies and paying attention to politics. They are not people that you and i respect. Okay . But most people will tune in six weeks before the election or so and think, okay, who is running . Oh, the first woman. The first woman. An historic candidacy and another white guy who is a republican. But truly, i think that some of these things that we dont think about in terms of the nitty gritty is an historic value of that candidacy at the end of the day theres a huge amount of wait and more republicans are worried about. Margaret hoover, buck sexton, thank you very much. Straight ahead, were watching the markets very, very closely after a major plummet this morning. The dow is still down 670 points. Well talk to kevin oleary and what it means for your money. Plus, the american heroes who took down a gunman. In their own words, how they inspired. And how they decided to stop the attack and rush him. He basically came in and we entered the car and saw him with the ak47. It was either do something or die. We are a couple of minutes away from one of the most devastating days in the market in recent years. A 1,000point dive at the open has turned into a rebound. These are not live pictures right . This is from this morning. Okay. Still now, you can see its down 583 points right now. All in the red all day long. The ups and downs, investigators really captivated by the plunge that began in china, the second only to us here in the United States that sparked this worldwide selloff. Of course, what happens in the next it 4 minutes up until that closing bell. Let me bring in someone who can put all of this into context for us. Mr. Wonderful, he is kevin oleary, an investor from abc shark tank. Kevin, mr. Wonderful, if i may, you know, listen, we all watched what happened, the precipitous drop in the first couple of minutes this morning and, of course, what happened is we ended our week on friday. Can you explain to me why this is happening . Well, the best way to look at it is from a very simple basis. Heres what is going on. Our stock market hasnt had a correction in over four years and thats unusual because generally it has 10 correction. And every correction has a different personality. Heres the personality of this one. You know, when you buy a stock, youre buying the future earnings, the cash earnings of a company that you like. And the market decides how many times the multiples youre going to pay. If the company is growing very quickly, youre going to pay more. Lets say 20 times, 20 years worth of earnings youre going to pay for that stock because its doing a great job growing. Now, heres what happened to us today in america our Biggest Companies have almost half their sales in the asian markets. So when we dont feel good about the american growth, its growing 3 at best, we feel great about our Companies Selling at 40 and 50 of their goods and services to Asian Countries growing 8 and 10 , like china. We wake up last week and find out that china is not growing at 8 or even 10 . Maybe its going to grow at 5 and we have a heart attack. Thats exactly what is happening. Were repricing the value of our Companies Based on a concern that they are not going to get the growth we all thought they were. Its a healthy thing. Its not the end of the free world but it is painful while it happens. Hang on, hang on. You said heart attack and healthy in the same sentence. Many people, yes, are having a heart attack when they look at these numbers and are not as knowledgeable as someone like you. How do we get back to steadier, healthier numbers . Well, i use that analogy because after you have a heart attack and survive it, you stop eating bad food. You eat healthy again. Right. Maybe what that means in the stock market is, you dont buy expensive stocks. You dont buy speculative stocks. You buy stocks as i do. I only pay stocks that pay dividends because they are less volatile and i get a check from them every quarter and that makes me feel warm and fuzzy. When i watch these volatile days, i try and nibble on the stocks i like and they all pay dividends. Im still going to get a check in 90 days if its a good company. Thats the debate americans are having with the stock market. What is the growth going to be and we dont want to pay as much as we did last week. When will this end . I cant tell you yet but i promise you it will and these are Great Companies and you shouldnt be concerned. If you own a Great Company that hey as dividend, sit tight. Wait for your check every quarter. Thats what i do. Warm and fuzzy. Dont look at your 401 k like i did. Kevin oleary, i really appreciate it. As we mentioned a moment ago, jeb bush at the border not on the border but near the border. Passed a few years ago and i think creating a healthy effect to make sure that these particularly young kids dont cross all the way through mexico to come to be processed into our country, its just completely inappropriate. There are examples of doing it the right way where you create an effect where peoples lives are not in jeopardy and it validates the fact that we need to have a comprehensive strategy to deal with Border Security and each region impacted by this. With that, welcome. Happy to answer any questions. [ speaking in Foreign Language ] you mentioned that donald trump this morning said you would come here and you would learn that illegal immigration is not an act of [ inaudible ]. What do you say . I say that mr. Trumps plans are not ground in concern and principles. It would cost hundreds of billions of dollars. Its not realistic and wont be implemented. We need Border Security to get this country back on track. Im not going to get into the issues of what he said and i said. The simple fact is, his proposal is unrealistic. It will cost hundreds of billions of dollars. It will violat peoples Civil Liberties and create friction with our Third Largest trading partner that is not necessary. If he was interested in a comprehensive approach he may want to read my book immigration wars which i wrote four years ago. I welcome him into the debate. Hes a serious candidate and ought to be held what serious candidates are held to, he needs to be accounted for his views. [ speaking in Foreign Language ] all right. So were going to go. Jeb bush speaking live there at mcallen, texas. Speaking about his opponent and donald trump. He took a swipe at him this morning knowing that hes going to the border area a couple of weeks ago and he said, listen, he needs to read my book. Margaret hoover was just sitting next to me talking about that with buck sexton. He says his principles are not grounded and if you go with trumps plan im being told to stay with it. Lets go back. [ speaking in Foreign Language ] [ speaking in spanish ] [ speaking in spanish ] [ applause ] [ speaking in spanish ] [ speaking in spanish ]. What about this region, what is it that youre look, i spent a lot of time here growing up. Its a beautiful part of the country. People may not remember, but i was born in midland and grew up in houston. I came here a lot. Campaigning for my dad, for my brother. I love the valley. So im excited to be here. Were going to campaign hard. On march 1st you have the texas primary. My intention is to win the texas primary, just in case anybody is curious about it. [ applause ] [ inaudible ]. Excuse me . Do you worry that the term anchor baby could affect look, no. As i said in spanish, my background, my life, the fact that im immersed in the immigrant experience, this is ludicrous for the Clinton Campaign and others to suggest that somehow somehow im using a derogatory term. What i was talking about was the specific case of fraud being committed where theres organized efforts and, frankly, its more related to asian people, coming into our country, having children in that organized efforts, taking advantage of a noble concept, birthright citizenship. I support the 14th amendment. Nothing i said should be derogatory towards immigrants at all. This is how politics plays. I think we need to take a step back and chill out that somehow you have to be scolded every time you say something. Its not fair to be taken out of context. Thats the nature of politics but i dont think this is appropriate. One more. What if people continue to stick to that term, anchor babies . I said i was focused on a specific, targeted kind of case where people are organizing to bring pregnant women into the country, where they are having children, for their children to become citizens. Thats fraud and thats what we need to do. We need to enforce the law. We need to create a more secure border, not just at the border but across the spectrum. There are 40 of the people who come here that are here illegally today came with a legal visa. Enforcing the immigration laws of our country needs to be a high priority. How do you do it . You put more resources to how would you refer to this issue. This is so ridiculous. Give me the name and ill use that. Thats what i was focused on. [ speaking in spanish ] [ speaking in spanish ]. Thanks, everybody. Thank you. What is your campaign doing with a more comprehensive look, i have set plans. I wrote a book about this called immigration wars. I have a complete, comprehensive plan that i laid out. What we need to be focused on is how to fix these broken things in washington, d. C. , rather than talk about how bad things are. We need to Start Talking about how we fix the broken immigration system and embrace the Energy Revolution to create jobs. These are the things that matter. I have proven leadership to make it happen. As a High School Student id like to ask a question that refers to us. How do you feel about College Costs . Are they do high and how do you lower the price so middle class family students can go . Absolutely they are too high. It has grown far faster than inflation and the inefficiencies of our Higher Education system are passed on with Recourse Debt effectively for students. I think the universities need to have skin in the game. If kids cant graduate with a fouryear degree in four years, there ought to be some payback to their families or to them or for the loans they have taken out. I think we need to make sure that you can get a fouryear degree done in four years. One of the programs that i most admire is tennessee promise where every child that participates, a student participates and it gets their College Education done, communi community college, the first two years, free of tuition. It requires mentors, it requires personal responsibility on behalf of the student and in doing that, thats the kind of approach we need. We need more kids graduating with degrees of purpose and so they can get a job and have an independent life. Thank you, guys. Fiery responses there. He was speaking back and forth, jeb bush alternating between english and spanish. Really coming back and defending. Hes been slammed by democrats, particularly Hillary Clinton, defending his using there. Before he was speaking in spannic, and kept saying he was proud, some spanish, hes proud of his heritage, proud of marrying a woman from mexico. Got a hurge, huge applause, jeb bush there along in mcallen texas. A quick break. Were back, ten minutes to go at the end of this incredibly volatile trading day. Well check in with the markets after this break. Why . Because its red lobsters crabfest. And theres so much crab, so many ways. And with dishes like this luscious crab lovers dream or savory snow crab bake. Im just Getting Started so hurry in and get crackin five minutes away from that opening bell. A precipitous plunge in the first cupping minutes, the Dow Jones Industrial average down 1,000 points at one point in time. Now its hovering around the 400 mark, trying to recover all day. Lets go to our money correspondent Cristina Alesci. Its been going up and down really the past minutes really have been crucial before that closing bell. Whats the feel right now on the floor . Reporter it is tense. In fact i tried to talk to a few traders i talked to earlier, and he said, just back away, were trying to get through the close. Wow. Thats whats going on right now. Of course all of this is tied to the Global Economic slowdown, specifically china. One trader here office said theres a compliete loss of confidence in china, not just from an economic driver standpoint and the Growth Potential out of that country, but people are also starting to question the data coming out of that country, whether investors should be really focused on the data. You heard questions about that in the White House Press conference earlier today. These are questions that havent been raised in a while. We know the china stock market crashed, but these kinds of big picture questions are really bubbling up at this point. We dont know the answer to that, but we do know two things. One, volatility is back in the market. That means this seesaw these swings will be here for a while, thats because, number two, the market is trying to find a bottom, the lowest price, right . We havent found that bottom yet, according to the traders on this floor, according to investors. They still dont know how to price this volatility around the world. Well have to see what happens, and well be playing close attention to what happens in asia tonight. Well be watching tonight, with you through the rest of the week, Cristina Alesci, thank you so much. Im going to say goodbye early, because my colleague john berman is live at the new york stock exchange, with the lead, which starts right now. \s all right. Im john berman on the floor of the new york stock exchange. People have not been want watching this space this closely since 2008. That, my friends is not a good thing. People here on this floor, people asking a frank question what the hell just happened . Because this morning, when the storm opened, it fell 1,000 points in less than ten minutes. Right now were about three minutes away from the closing bell and the market is down about 486 points. What will happen in the next two minutes . We simply do not know. The market has never fallen that far that fast in one trading session, not ever. Joining mess right now, cnns chief business correspondent, my morning partner christine romans, the question is, what a day. Have you ever seen anything like this . Is there a big why . Why . Ive never seen anything like it, first of all. Youve never seen a decline that quickly on the opening bell. And then, john, a recovery, an 800point bounce off the lows which was really astonishing, as violent in the assent, the why is china. China is the indicate list here. The chinese economy is slowing quickly. Theres concerns about a hard landing, the stock market bubble has popped. Everyone with exposure to china, everyone with exposure to commodities that you sell to china for the economic miracle factor, you know, machine of the past 20 years, big concerns. People are thinking some are bad summer day in the heat when there isnt much trading, but thats not whats happening today. We felt 500 points on friday, and this morning you saw the 1,000point dip. Now back down 537 points. There are some serious concerns here, as were now one minute away from the closing bell. Weve been talking to a lot of folks looking at the orders coming in. Theyre word about the sell order on the close on friday. There was a lot of selling very late on friday, that of course once the market closes, its the weekend, they couldnt get it done. Thats what you saw on the opening bell this morning. Thor walking, theres always a possibility to see buyers come in who see a downdraft, thats a place to buy. A lot of global concerns, though. We are officially in a correction. This is a market correction, that has been a drop of more than 10 . Were not in the bear market. That would be 20 . A lot further to go. Youre hearing the clapping at the new york stock exchange. They have to clap. Believe me, there is no joy behind this applause right now, not here, not today. It will take a few minutes to settle the closing prices. Well hear this bell and see the and were going to see the market tick around here trying to find its footing on the close. I think what you saw cause displeasure, they stopped wringing the bell until it was 4 00 exactly, maybe not the enthusiasm they like toss here. Were going to settle in right now at 584 points at 4 00. That is on top of the 500point loss we saw earlier this week. 580 points is a bad, awful, nogood day, as they would say. However, its not 1,000 points. If you looked at the opening bell this morning and saw 1,000 points on the dow and looked at the close and say, wow, this is better than i thought. Perspective here, a 4 , almost 4 move is a