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Transcripts For CNNW CNN Newsroom 20110818



hey, fredericka. the losses are holding steady. the dow down about 436 points. they re off their lows of this session where we saw the dow down as much as 500 points. this is coming after morgan stanley kind of set off an alarm bell saying that the u.s. and europe are looking like they re getting close to going into a recession. morgan stanley also downgrading its growth forecast globally for this year and next. also not helping we got a bunch of economic reports here in the u.s. one on jobless claims showing a rise in jobless claims, the jobs area something that this economy really wants and needs at this point and not seeing. we also got a very weak regional manufacturing report showing contraction and a weak housing report showing sales declined about 3.5%. see what you do when you olympic all that together you get a big sell-off and that is what we re seeing right now. frederic fredericka? that as it looks for the dow. let s check out what the nasdaq issing look ....

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