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Transcripts For CNNW Erin Burnett OutFront 20111110



outfront tonight, u.s. markets fall big time. it was a miserable day on wall street. the dow down 389 points. nasdaq and s&p 500 fell by more than 3%. the markets fear gauge sparked it. peter costas, a trader nearly 30 years, what happened today? well, there s a lot of uncertainty in europe. i think when the italian treasuries went over 7%, that scared a lot of people. if you re going to look at it, i am not negative on the market, today was a good day to buy, we will probably have a couple move intermittent dips. people are afraid with italy going through the debt crisis greece went through, people are afraid this will cause another recession in europe. that s the major thing. one-third exports go to europe. if there s a recession, it could impact the u.s. economy more than we have been impacted by what s gone on the last three years. bottom line, even though it is volatile and fear from europe, you think it is a buying opportunity? i think it is a buying oppo ....

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