to move into so-called safer investments. it s ironic because profits particularly with u.s. companies have been very strong. and they have a lot of cash on hand. so nothing has really changed in that regard. what is this? is it real, is it not. it s not real. this is artificially created panic. and the numbers show i mean > reporter: so tomorrow we ll see it go back up or next week? you know i hope so if somebody is smart enough to takes the opportunity to return to the market now is the time. reporter: today s dive is the steepest point decline since december 2008, the beginning of the financial crisis. the banks were in trouble then. the last time the bottom fell out there was a good reason for it. this time, there is no good enough underlying reason to warrant that big of a drop. so i think it will bounce back. if it was really trouble, companies would have been buying back their own stock. reporter: look at it is a giant sale, says investor sarah brow
welcome to mornings on 2. it is the last day of the month, unbelievable. sunday, july 31. i m mike mibach. good morning, i m maureen nailer in for claudine wong. good morning to you, it is going to be unseasonably cool, that is how we re going to end the month. the gray sky back with us all the way into the valleys. the marine layer even a little thicker this morning. once the low clouds burn off, we may notice high clouds hang overhead for the afternoon. temperatures very similar to what we felt yesterday. in the extended forecast, your workweek ahead, and the first week of august, going to be unseasonably cool. we ll take a look at what you can expect for sunday, and next week coming up. the fate of the two uc graduates held in iran will be decided within a week. their attorney said he and the two americans presented closing arguments in their defense. the judge then said that the court will announce its verdict within the next seven days. he said he is confident that
happen. and josh have cc1: been waiting for a trial for 22 months the first time we were going to try. we ve been waiting a long time and we hope it s the end. another reason for hope, iran also has a tradition of pardoning prisoners for the holy month of ramadan which starts monday worldwide. we also have new developments in the case of lei, missing for two months now. investigators in the east bay may be announcing the arrest of a suspect in the case. police have evidence that she was killed and they believe they know who did it. terry s rea kimberlycc1: with developments. reporter: a car wash to raise money for search efforts still under way. there are a few cars left here. for the investigation, michelle s family says it s been in daily contact with police who say they are closing in on the person or people responsible for her disappearance. that news is bitter sweet but they will continue their search for the missing nursing student until they hear something defini
clock. it is showing you we are just three days, 14 hours, 59 minutes and so forth until the deadline. now it s the democrats turn to put together a plan to keep the government from running out of money on tuesday. abc news tells you how both sides of reacting after accomplishing nothing. speaker john boehner vehemently described what he sacrificed in order to produce a debt ceiling plan that he says will save the economy. i stuck my neck out a mile to try to get an agreement with the president of the united states, and it is time for the administration and time for our colleagues across the isle, put something on the table. tell us where you are! a short time later. ayes are 218, nays are 210. the debt ceiling passed. boehner s bill passed along party lines. it raises the debt ceiling $900 billion for six months while cutting in government spending without increasing any taxes. it includes a constitutional amendment requiring a balanced budget. senate majority le
california senators boxer and feinstein joined their democratic colleagues in in voting against the bill. you can see with this countdown clock, time is ticking down to tuesday s deadline. it s the democrats turn to keep the country from running out of money and there is little hope that republicans will go along with that. speaker boehner had barely and hour to save or his victory. . though without a single democratic vote. i stuck my neck out a mile. a lot of people can never say yes. this house has acted. it is time for the administration and time for our colleagues across the aisle, put something on the table. tell us where you are! it came only after boehner added a requirement for a balanced budget amendment. that left it dead on arrival in the democratically controlled senate. all they do is talk. it s not enough to get done. it s time for us to be adults. they are getting only more partisan rancor. there is no balanced budget amendment early on sun but th