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case from new york. >> reporter: this is being reported by state run media and specifically a judiciary source talking with them tell iing the that the two hikers that remain in prison now, shane bauer and josh fattal, have been sentenced as you said to eight years. it is five years for spying as they put it, the words, cooperating with the american intelligence service. and three years each for illegally crossing the border into iran. now, this information, according to the lawyer, for the hikers, they have not officially -- he's not officially been told this yet, so he's still wait...

family. take a look at this just released video. are london rioters firing at police helicopters. a live report in just a moment. severe storms strike the northeast, unleashing deadly flash floods and it's not over yet. the ohio valley could be next. but we start with the sputtering economy. president obama says there are steps we can take to spark the economy. watch. >> there are things we can do right now that will mean more customers for businesses and more jobs across the country. we can cut payroll taxes again so families have an extra thousand dollars to spend. we can pas...

>> where are you going? you're leaving? absolutely extraordinary, dare i say it, surreal moment. christine o'donnell, one-time tea party darling walks out of my studio rather than answering straightforward questions. you've heard all about the fuss. and if you missed it, tonight we're going to reair the whole interview all over again. i'm going to get some of the smartest people in politics and media to weigh in with their verdict. was it christine's day? or was it mine? >> all right. are we off? are we done? >> i'm not. i'm still here. decide for yourself. this is "piers morgan toni...

steven moore and robert reich, labor secretary during the clinton administration. currently he's a professor of public policy at the university of california at berkeley and author of "aftershock, the next economy in america's future" now out in paper back. ali, what happened today? >> reporter: we had a situation where it's not just fear we were talking about. this was actual fact. we started this morning with slow bad markets out of europe. then before the markets opened we got this report from morgan stanley which talked about slow growth around the world, telling us things we alr...

another recession. and adds new urgency to the political debate here in washington over new jobs initiatives. the dow jones industrial average was down just short of 420 points or 3.7%. the nasdaq down 5.2%. the s & p 500 down 4.5%. it is what drove the markets down that is again stoking recession fears. overseas more jitters as europe struggles to contain its debt crisis. here at home, data some see as evidence of a new downturn. weekly unemployment claims rose much more than expected. sales of existing homes dropped by 3.5% in july. analysts had been expecting a modest increase. th...