tv America This Morning ABC August 9, 2011 4:00am-4:30am PDT
making news this morning, it is a stock slip and slide after at dow's sixth worst day ever. overseas markets opening in a tailspin today but some are rebounding. can a fed meeting today stop the bleeding? in london, the chaos continues. violence and looting for a third straight night. a wave of rage spreading to other cities. overnight we learned of trouble for america's superswimmer. the 61-year-old attempting a 100-mile feat without stopping, a record not to be. wimmer. the 61-year-old attempting a 100-mile f ft without stopping, a record not to be. good morning, everyone. i'm tanya rivero. overseas markets are once again in a decline over the global some bright spots this morning.
tokyo's nikkei average lost 150. hong kong's hang seng was in late trading. in london the ftse opened higher. stock futures suggest the dow could gain a few points today but nervous investors are still looking to washington to restore confidence. here's abc's karen travers. >> reporter: asian markets are reeling today. stocks plummeted over investors' fears about the weak global economy and the continuing massive sell-off on wall street. >> it's a complete meltdown like the or the financial tsunami. there is a complete loss of confidence. >> reporter: yesterday was simply brutal on wall street. the dow closed at its lowest level in ten months. the 634-point plunge was the sixth biggest drop ever and capped a 12-day sell-off that erased 15% from the dow. more than $2 trillion of stock
market wealth wiped out over concerns about the ongoing debtw crisis in europe and now the u.s. credit downgrade by standard & poor's. >> right now there is no confidence. >> reporter: for the average investor that means $16,500 erased from their 401(k) plans. yesterday s&p downgraded fannie mae and freddie mac which means the cost of buying a home couldt increase by tens of t f dollars. the ripple effect from the u.s. rates on credit could mean cards and student loans. sparking concerns that if consumers have to pay more, the economy will slow down and jobs will be at risk. >> 1% rise in interest rates equates to about a million job losses here in america. >> the most likely scenario we continue to chug along or muddle along in this economy rather than fall into a double-dip recession. >> reporter: analysts say the best thing investors can do right now is hold on, ride this out and bet on the ability of the u.s. economy to turn some profits. tanya. >> karen, a big meeting today at
the federal reserve. what are we expecting? >> reporter: tanya, all eyes will be on ben bernanke to see if he announces new plans to spur economic growth and prevent the double dip recession but aren't many tools left for him to turn to. the fed needs to do something, though, to boost american confidence so what can benen bernanke do? go back to congress and the top of that list is whether or not the fed will keep interest rates at record lows. that is something investors are certainly going to be looking for but we don't expect that there's going to be much cygnus today here in washington. tanya. >> karen travers in washington, thank you. as stocks plummet this morning, the price of gold is trading at an all-time high. gold rose to $1,770 an ounce overnight as investors look for a safe place to park their money. making it pricier than platinum for the first time since '08. at the same time the price of oil droppedround $78 a barrel. its lowest point in almost a year.
it's a quickly changing situation and we'll cover all the angles including that is right for your money later on "good morning america." our other major story this morning, the violence that's o. this photo from this morning's "times of london" caught our eye. a young woman forced out of her burning building into the arms of rescuers below. incredible images. now the unrest is spreading to other major english cities. abc's lama hasan joins us live from london. lama, what is the latest? >> reporter: good morning, tanya. yes, remarkable scenes, in fact, extraordinary scenes. there have been serious developments overnight. not only is it spreading across london but two other major cities, the first time since it broke out over the weekend here. and, of course, this comes after a third consecutive night of violence in london and yousee ie see it in the images.
the images are just apocalypti, the buildings on fire. fires burning out of control. firefighters struggling to contain those fires just to give you an idea. last night was one of the busiest nights for firefighters receiving more than 2,000 phone calls so even when they get to the scene it's very difficult to get close to the buildings because it's simply too dangerous and yesterday we were at one of the areas in london where the riots broke out saturday and one thing we did hear the police were too late on the scene. they have been overwhelmed by the marauding masked men on the streets trying to break into these stores to start looting as well as rioting with police, so they are stretched thin. they are overwhelmed. so right now what is happening is police are clashing with the rioters and they're struggling to gain control of the streets and that is what they're trying to do here and that is what the government is also trying to do right now.
tanya. >> devastating images that look like a war zone. what's being done by authorities to prevent this from happening again tonight? >> reporter: well, that's the key question. prime ministst david cameron has to cut his vacation short. he is now in britain. he's going to be chairing a meeting any minute now, an emergency meeting to try to deal with the crisis. just to give you an idea how many police were on the street, 6,000 and they still couldn't control the violence. further 1,700 will be brought out onto the streets today, and they're talking about perhaps using water cannon which is the first time that type of method or type of -- to try to quell the violence has ever been used on the mainland here so they've got all these options on the table right now but the key thing is to stop it from spreading for another fourth night. >> lama hasan in london, thank you. the housekeeper who claims
dominique strauss-kahn sexually assaulted her is now also suing him. nafissatou diallo claims he injured her several times at the hotel where she worked seeking unspecified damage. strauss-kahn's attorney says the suit last no merit and that diallo is only seeking money. victims and survivors of unabomber ted kaczynski will be sharing more than $200,000 much the money comes from a court ordered auction of his tools and other possessions. he's serving life in prison after pleading guilty to killing three and hurting nearly two dozen others. frj budget woes and electron woes for the end of a congressional tradition. the house page program had allowed high school students to serve as messengers on capitol hill, but top lawmakers say the $5 million annual expense can no longer be justified now that most messages are delivered e-mail. pages will remain on duty in the
senate. and now for this morning's weather from around the nation, severe storms with gusty winds and hail around chicago, louisville, memphis and birmingham. heavy rain for atlanta, tallahassee, and the gulf coast. afternoon and evening thunderstorms from washington, d.c. to boston, showers in the desert southwest, northern rockies and dakotas. 70s in seattle and portland. phoenix heats up to 105. albuquerque, 95. 84 here in new york, 91 in atlanta and dallas soars to triple digits for the 39th straight day. no relief there. coming up, metrosexuals, where did you go? are guys giving up on grooming as the economy seems to get worse? plus, some airlines rolling back recent fare increases so will the savings trickle down to you? nearly a day into a 60-hour nonstop swim, trouble overnight for american diana nyad.
turning back to our top story, the wordwide market sell-o-o. asian stocks started in a tailspin today following wall street's lead. on wall street the dow lost 634 points yesterday. its sixth worst day ever. the nasdaq index lost 174 points. abc's akiko fujita has the latest from tokyo where markets have closed. akiko, how did the day end there? >> reporter: well, the good news, asian markets stabilized
in afternoon trading but it looked like the markets would follow wall street's lead earlier in the day when markets across the board opened down and then just tumbled. the nikkei average fell below a key number for the first time since the dis in march and down to 6% to 8% at one point. analysts say there were two factors dragging the sell-off today. one is the concern of the global economy weighing on investors, but also a delayed reaction to the u.s. credit rating downgrade. one analyst said investors initially underestimated the impact s&p's move would have on the markets. but we saw that happen on wall street overnight and that sent asian investors into a tailspin. final numbers out here not nearly as bad as what we saw earlier in the day. the nikkei closing down 1.7%. so while mott a good day on asian markets today at least some relief at the end of what was a pretty tense day.
tanya? >> atiko, so slight good news there. thank you veve much. and with the faa collecting airline ticket taxes again, several major airlines are rolling back temporary price hikes. fares went up recently while the faa was shut down. southwest, jetblue and american were among the airlines to end the temporary price hikes. however, customers are not likely to notice the difference. so w wt's going on? with the markets going down the tubes here's one solution, get shaggy. men are taking on the rugged look as the economy gets in deeper trouble. sales of men's hairstyling products are down 15% while everyday fragrances are down 10%. hugh lawrie, brad pitt and sack gal if i knack cast are examples of those letting it grow. a popular singer is attacked on the street putting him in the hospital. the first video of two
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now for a look at morning road conditions. flooding on i-90 from chicago to boston, i-80 from cleveland to new york and i-70 from ininanapolis to pittsburgh. wet on i-40 from little rock to knoxville. slick spots on i-70, 80 and 25 in the high plains. if you're flying, airport delays are possible in memphis, boston, new york and philadelphia. the fbi is on the hunt for three brazen siblings from florida. the two brothers and their sister have been on the run for a week accused of shooting at police and robbing a bank. we now have video of the trio in armed and dangerous.arn they are here's abc's linsey davis.
>> reporter: for the first time we're getting a glimpse of the dougherty gang in action. the three fugitive siblings, lee yas elisabeth dougherty, dylan stanly dougherty and ryan dougherty are all inside this white subaru. when they still can't shake the officer, the trio takes aim. [ sirens ] >> he's now headed south of bound on norris bridge. fired several more shots at me. >> reporter: the two brothers and their big sister all in their 20s allegedly fire at least 20 shots at the officer. amazingly, he was unscathed. >> they were trying to hurt this officer, if not kill him. >> reporter: one bullet finally hits the officer's tires. >> got a flat tire. >> reporter: authorities say their rampage last tuesday northeast of tampa in zephyrhills. just moments after ryan cut off a court ordered ankle bracelet. a few hours later, 200 miles
north in valdosta, georgia, the trio allegedly robbed this bank wearing masks and firing ak-47s with an undisclosed amount of money. their mother says all three have had trouble with the law, and now she just wants them to surrender. >> only mom knows what good people you are inside. please prove me right. >> reporter: she thinks this chain of events was sparked by the fact that her youngest son had to register as a sex offender last week as sending explicit texts to a child. the texts the trio recently sent to their mother was paraphrased by police as saying "there's a time for all of us to die." linsey davis, abc news. and kids in philadelphia now have a new curfew, part of a crackdown on violent flash mobs. police stepppp up patrols after roving gangs of teens and tweens rioted and beat up store owners in response to messages posted on twitter, facebook and myspace. in two sections of the city everyone under the age of 18 must be indoors by 9:00 p.m. on weekends.
the mayor says violators could be fined and jailed. and singer gavin degraw was forced to cancel a concert scheduled for tonight after an attack on a new york street. degraw was taken to the hospital after suffering a broken nose and cuts on his face during the sunday morning assault. his family says he is expected to be all right. degraw had been spending the summer touring with train and maroon five. and that amazing long distance swim we told you about yesterday morning, well, now it's over. diana nyad's attempt to become the first person to swim from cuba to key west without a shark cage foror protection ended ear this morning. she was about halfway through what was expected to be a 60-hour swim. strong winds and currents and some injuries combined to end the attempt. after she got into a rescue boat she said stopping was "the right call." here's one that will leave you asking how does he do that?
check out shininji saito, who w crowned as the world's yo-yo champion over the weekend. the reason for his victory, probably pretty clear, it's the 11th time he's been crowned as the best yo-yo fanatic in the world, and really could anyone possibly be better? ok at that. pretty amazing stuff. all right. up next we will update the overseas markets. plus, are you ready for a new dirty dancing? i kept feeling this radiating ache everywhere. the pain was so frustrating. i found out that connected to our muscles are nerves that send messages through the body. my doctor diagnosed it as fibromyalgia -- thought to be the result of overactive nerves that cause chronic, widespread pain. lyrica is believed to calm these nerves. i learned lyryra can provide significant relief from fibromyalgia pain. and less pain means i can feel better and do more of what i love. [ female announcer ] lyrica is not for everyone. lyrica may cause serious allergic reactions
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now a look ahead at the stories we'll be watching this tuesday. as asian markets close mostly lower for a second day, nervous investors look to washington for help. fed chair ben bernanke is expected to address the crisis when the federal reserve meets later today. a somber ceremony takes place later this morning as the remains of those killed in the afghan helicopter attack return to dover air force base in delaware. 22 navy s.e.a.l.s are among those who died in the shoot-down. president obama visits a virginia moving company today to announce new fuel efficiency standards for work trucks, buses and other heavy vehicles. the new rules are designed to save businesses billions of dollars, reduce oil consumption and cut air pollution. they apply to model years 2014 and 2018. polygamist leader warren jeffs could learn as early as today whether he'll be sentenced to life in prison for sex assault.
prosecutors wrapped up their case with a final barrage of graphic audiotapes. we could learn more about the presidential aspirations of texas republican governor rick perrrrtoday. he's announced plans to attend events in both south carolina and new hampshire this coming weekend. perry is expected to formally enter the race on saturday. and we could also learn more about a treat for "dirty dancing" fans. a remake of the classic 1987 movie starring patrick swayze and jennifer grey is in thth works, it is said. directed by kenny ortega who choreographed the original film. the cast has not yet been selected. and coming up later on "good morning america," an update on that 10-year-old model we told . our message boards lit up about this photo spread. now the child's mother is speaking out about the controversy. and for some of you, your local news is next. for everyone else, we'll be back with an incredible tale of survival, rescued from the wilderness.
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next on abc7 news -- a tactical alert. police call for help after a 3-year-old child is hit by a stray bullet in broad daylight. huge slide on worldwide market overnight after the dow's biggest drop in three years. what experts say you can expect and how to protect your investment. lisa argen has the forecast. >> waking up to the usual and finally, the amazing power of survival mode. an oregon hiker is on the mend after a near-death ordeal in the middle of the wilderness.
the 28-year-old woman survived three days stranded on mt. hood getting by on creek water, berries and bugs. more from katu's bob hye. >> i just wasn't going to just lay there, like i just wanted to keep -- i don't know, just keep going. >> reporter: pamela salant says that will to survive was critical when a short hike around bear lake just over a week ago quickly turned into a struggle for survival after she fell down a 50-foot cliff. >> like i landed, then i like couldn't really figure out how that just had happened, it happened so quickly. but just, yeah, i knew like where i was laying, like i was safe and i was kind of warm in this weird way. i didn't feel the initial pain until i woke up the next morning and was like, whoa, where am i? how did this happen? i had fallen a aeep right where i had fallen. >> reporter: pamela heard the search aircraft overhead. she knew she had to somehow crawl despite a
broken leg down along a creek to a clearing where someone could see her. she ate berries. a bite of f slug was too much. >> i said, i can't believe i'm doing this. >> reporter: pamela says the nights were especially long. >> i had to figure out how to keep warm and takes socks, gloves, take laces o o of my shoes and figure out just how to utilize everything that i was wearing. >> reporter: but pamela says her will to survive kept her going. >> i don't know, just like relying on like e stincts and like gut and like heart, you know, like -- just like -- i don't know. just like really just like took over. i couldn't -- i didn't realize i had that in me. >> reporter: pamela says nothing of this has scared her away from camping. she intends to go back in the woods as soon as she can. in portland, bob heye for abc news. >> tough as nails. that's what's making news in america this morning. stay with us for "good morning america." and have a great tuesday.