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s&p 500 lost 37. the nasdaq fell 82.5. let's get insight now about what might have caused this. fox business network correspondent peter barnes joins me from washington. good evening, peter. >> good evening, bret. stocks closed at the lowest level since august and are down 6% for the last two days, the worst two day decline since the financial crisis. three years ago. investors continued to react to that down beat outlook for the u.s. economy. released by the federal reserve yesterday. an outlook that could, we can even -- weakened further because of the debt crisis in europe racing ...

the u.s. economy. released by the federal reserve yesterday. an outlook that could, we can even -- weakened further because of the debt crisis in europe racing more fears of a double dip recession. >> you have three major risks out there. we have a slowdown going on in the economy. we have the u.s. debt and deficit situation that is a big problem that needs to be solved. we have this european debt debacle that seems to keep getting worse without a solution. >> we are corrupting the global economy because the cost of propping up our economy is enormous and putting great strains on the...

his death still calling himself an innocent man. that wouldn't be unusual except seven of the nine witnesses who helped convict him agreed. all seven say he was not the man who gunned down the off duty police officer in 1989. six say police threatened them unless they identified davis. supporters who note there was no physical evidence linking davis to the murder called for a last minute reprieve. >> there is too much doubt for the the execution to continue. >> reporter: the hopes were dashed tuesday when the pardons and parole board rejected his cle mency bid to the relief of the vi...

against the g.o.p. urging it not do and it is called operation twist. what is going on here? >> here is what happened we spent $600 billion over 12- to 15-months buying bonds without getting too wonky, that should shrink the government but the fed is using $400 billion of those printed dollars to repurchase things that the stock market said that is bad, that means the economy is still on the skids and 2893 points fell off the dow yesterday, and another 391 points today. this is the biggest two-kay slide since october of 2008 when we were in the middle of recession. the fed saying we ...

i just think it is really sad. he is so innovative with apple. he brought the company around. >> it is sad to hear it. i hope his health is good. >> he will be there innovating as long as he can. >> reaction on the sudden resignation on steve jobs. jobs left with this statement, quote, i have always said if there ever came a day when i could no longer meet my duties and expectations as apple's ceo, i would be the first to let you know. unfortunately that day has come. i hereby resign as cree o of -- ceo of apple. steve jobs is more than a ceo. he has been april -- apple's core. what ...