pressure on the president just he prepares for some r & r. abc s karen travers joins us live from washington with the latest numbers. reporter: good morning. the credit downgrade, weak job creation and of course this wild ride on wall street, it s easy to see why americans are so pessimistic and why the president s poll numbers are falling. the global market whiplash continues. asian markets sell keeping up their pattern of mimicking the u.s. markets from the day before. the latest cause for sell-off, concerns that france, europe s third largest economy, could be the next country to face a downgrade because of issues. it reacts not only to factual aspects and fundamental aspects but also rumors. reporter: on wall street a week of massive swings down 600 monday, up more than 400 tuesday but those gains and morgann wednesday. the dow closed down 519 points. the ninth steepest drop in history. it s not a full-blown panic yet, but it could get there. they re not throwin
sinking 401(k)s are putting new pressure on the president just as he prepares for some r & r. abc s karen travers joins us live from washington with the latest numbers. reporter: good morning. the credit downgrade, weak job creation and of course this wild ride on wall street, it s easy to see why americans are so pessimistic and why the president s poll numbers are falling.g. the global market whiplash continues. asian markets sell keeping up their pattern of mimicking the u.s. markets from the day before. the latest cause for sell-off, concerns that france, europe s third largest economy, could be the next country to face a downgrade because of issues. it reacts not only to factual aspects and fundamental aspects but also rumors. reporter: on wall street a week of massive swings down 600 monday, up more than 400 tuesday but those gains and morgan on wednesday. the dow closed down 519 points. the ninth steepest drop in history. it s not a full-blown panic yet, but
another wall street wipeout. tonight 519 point drop erased all of yesterday s gains and then some. investors worried about the future of an economic comeback. the s&p 500 lost almost 52. good evening. i m dan ashley. asian markets down about 1% on thursday trading. businesses that trade their stock on wall street have been devalued $2 trillion in just the past two days. mark matthews tonight on the fear and loathing taking over the market. reporter: two weeks before the debt ceiling deadline the big money guys said don t worry about it. i don t think most investors are that concerned about what is happening right now. no one believed congress would actually drive the car off the cliff. the markets are not reacting to it. reporter: that was louis on july 17. today the money manager was one was featured speakers at the money show, a gathering of finance executives in san francisco. i asked h him what happened? in retrospect if we read the s&p opinion they didn t lik
sinking 401(k)s are putting new pressure on the president just as he prepares for some r & r. abc s karen travers joins us live from washington with the latest numbers. reporter: good morning. the credit downgrade, weak job creation and of course this wild ride on wall street, it s easy to see why americans are so pessimistic and why the president s poll numbers are falling.g. the global market whiplash continues. asian markets sell keeping up their pattern of mimicking the u.s. markets from the day before. the latest cause for sell-off, concerns that france, europe s third largest economy, could be the next country to face a downgrade because of issues. it reacts not only to factual aspects and fundamental aspects but also rumors. reporter: on wall street a week of massive swings down 600 monday, up more than 400 tuesday but those gains and morgan on wednesday. the dow closed down 519 points. the ninth steepest drop in history. it s not a full-blown panic yet, but