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of the turmoil on wall street has been triggered by fears over the european debt crisis and the anemic economies. and richard quest, one of the best people to turn to when we want perspective on the global economy. he joins us from london. what happened in the european markets today? >> reporter: the europeans went down initially and then down further and they rallied with wall street. we closed down 1% in london, and paris 1%, and frankfurt, once again the german market is being creamed by what is happening at the moment, by far and away being breutally attacked. and the german indu...

shopping sprees, but are still out there spending and that's good. the dow fell to the lowest level in 30 years, but we are not seeing the wild swings we saw all week. the dow closed down 600 on monday and up 400 on tuesday and down 500 points on wednesday and up 400 yesterday, and it was the first time in the dow's history we have seen closing numbers like this. drew? >> you could probably measure the heartbeat of traders the same way, up and down. tell us what happened in europe? they are trying to prevent the wild up and down swings. >> what they are doing is they are putting a te...

points. that continues to fluctuate. coming up in a couple of minutes. i'll speak live with the man who ran the government's bank bailout a couple of years ago. by the way, he agrees with the downgrading of the u.s. credit rating. don't miss that conversation with him here. i do want to begin with this. the commander in chief of the u.s. armed forces is at dover air force base in delaware right now. president obama is attending the dignified transfer, right there, that's what the military calls the movement of war fatalities from the place they died back to american soil. those who...