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Regulatory commission suspend its circuit breaker system which halts trading in order to ease panic selling. a 7% dropped triggered circuit breakers. they went into effect this monday. we have the same systems with trading halted for 15 minutes with the s&p dropping 7% and 13%. back in the u.s., here this morning, weekly jobless claims came in at 277,000, so this is a signal the labor markets remains on more solid footing, despite slower economic growth. investors watching for tomorrow's job report with estimates at 210,000 jobs added in december. we'll see how the market reacts. waiting for t...

>> that fell to its lowest level in 77 months. >> to say it -- markets across asia trading lower. then it was shank high the following week where the real selling took place. >> asian markets suffering huge losses in monday's session. >> europe followed suit with the dax entering a bear market as panic selling intensified, and then it's over to wall street. >> now we're down 6%. 1,000 points here. incredibly rare to see a move that brisk. >> in the first few minutes the dow suffered its worst ever points loss in a single day. it did gets slightly better, but the dow recorded its worst day in f...

On monday and tuesday. massive falls. panic selling. then on tuesday after the market closed, we started to see the government taking action. we saw cut interest rates and free up money to be pumped back into the economy. on thursday, we started to see a government buy. we cannot actually be sure because it is difficult to confirm these things. it fits the pattern we have seen before. markets finishing sharply higher. the government has explicitly directed the pension funds and insurance funds, state-owned companies here, to actually buy shanghai stocks. a clear directive there. we think that ...

Fears about weakness in china's economy sending investors around the world out of commodity prices and out of oil and into the safety of government bonds. i want to bring in andrew stevens in hong kong. andrew, the selloff continues unabated in asia. >> reporter: good morning, christine. unabated in china. shanghai down more than it was yesterday. 7.6% versus 7.5% yesterday. these are massive falls in anyone's language. this is panic selling in china. they are mainly small investors and want to get out of the market. a lot of them borrowed money to do it. now they want to get out. their concer...

June wiping out trillions in value. now fears in chinese's economy have sent stocks plunging. i want to bring in andrew stevens in hong kong. andrew, it looks as though selling frenzy has stopped in europe. u.s. indications are the dow will rise, but china still feeling a lot of pain. >> reporter: absolutely all of the pain. another 7.5% on top of the 8.5% yesterday. it is panic selling in china. people are getting out however they can. what is interesting, christine, there's been no apparent evidence of the government getting in to try to stem the losses. at least slow down the rate of descen...