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average plunged 520 points, 4.6% amid jitters about europe's debt crisis and growing resignation that the long-term prospects for growth here in the united states are bleak. alison kosik watched the massive selloff up close. >> john, we had yet another brutal session here on wall street today. you know, there's a lot of uncertainty about the economic outlook here in the u.s. and in europe as well. you know, there's worries about france being downgraded like the u.s.' debt was downgraded. they really accelerated the losses in the final minutes of the trading day, and then, of course, ...

really to blame for america's downgrade. t. boone pickens, where america goes from here. how bad is all of this for president obama. started to hear the white house in the kennedy years. dan rather. ever seen washington or wall street like this? and anarchy in the uk, what's behind the days and nights of rage in london and other uk cities. where will it end? this is "piers morgan tonight." good evening on a busy news day around the world, thousands of police on the streets of london and other uk cities are getting the upper hand on the fourth night of appalling violence there. we'l...

at least for the moment. stocks bounced back in early trading today, after monday's 634-point plunge. right now, dow blue chips are up by 201 points. investors are psyched over today's fed meeting, and there's speculation it might announce a new stimulus. to boost the economy. president obama sits down with treasury secretary timothy geithner. that's happening this afternoon. they're going to size out the new market turmoil that is fearing -- that is fully feeding fear of double-dip recession. the president is promising to help a special congressional commission find a long-term fi...

complicated partisan bickering. the senate went o recess without giving the agency a short-term funding extension. president obama believes the issue will be resolved by the end of the week. the transportation secretary says you have nothing to worry about when you fly. i'll be speaking to him later on "american morning." president obama turns 50 today. he qualifies for a free scoop at baskin-robbins. and he got a surprise in chicago ♪ happy birthday to you ♪ happy birthday to you ♪ happy birthday -- >> jennifer hudson much better singer than rahm emanuel. 26 seconds of the...

talking about cuts and specifically what's handed to em because of the debt ceiling deal reached earlier this week. initially they know they have to cut 350 million which more or less they are okay with and won't necessarily sacrifice our national security, but where the big question mark comes is if that committee can not decide on how they will make those additional cuts to equal around or about $1.2 trillion, they will have to cut hundreds of billions, 500 billion, 600 billion, 700 billion just to defense, and to quote, i want to get this precise for you, the defense secretary sai...