? >> very ugly, almost entirely related to china which fell 7%, the chinese shanghai market is a very big market and then it just stopped. the government shut it down, that scared everyone, including our own investors. >> china's been having manufacturing problems for a while this. why on this particular day does it is suddenly drop? >> the chinese changed some rules. it's a communist country and dictatorship. change rules like that. not really any sort of give or take with investors there so they put the rules through. they failed. the government pulled back. last night they were buying furiously to keep the market up. again, it's a dictatorship. they will buy to keep the stocks higher. >> jim, how many times have you told me as january goes, so goes the year. no, i'm kidding, you haven't said that to me, but it's a very common expression when people look at the stock market. is it true? >> historically there is evidence that indeed if the first day is really bad the rest will be bad, but i can tell you we can throw out all of these because if the federal reserve is going to raise rates

shanghai index dropped more than 7% and investors at home and around the world are worried about their economy slowing down and falling oil prices. >>> california is bracing for yet another day of drenching rain. more than 6 inches have fallen in some parts of california this hundreds of homes are in danger and, frankly, another storm is coming its way saturday. >>> and you've likely heard by now nobody won last night's powerball jackpot. you got to go to work. all that prize money, now rolls into saturday's jackpot which is already an estimated $675 million. the largest jackpot ever. that sounds good but if ticket sales continue to soar, could it be $750 million. that sounds better. >>> a scare on stage at the people's choice awards. the host of "the talk" were in the middle of their acceptance speech. this guy walks up, random guy, rushes, grabs the mike, look at boom. sharon osborne not messing around kicking this guy off the stage literally. look at the way they're looking at him, guys. you better get off that stage. more of the big show coming up in "pop news" but, guys, i h

morning we can say the shanghai index was up and down before closing up 2%. and a good u.s. jobs report today could actually bolster the markets here. >> tonyia couch has a date in court this morning. she's the mother of the so-called affluenza teen brought back to texas yesterday. charges she helped her son flee to mexico. ethan was convicted of killing four people while driving drunk. ayew tube video allegedly shows him violating his probation. he remains in mexico fighting extradition. >> on the other side of the country, donald trump packed a full house last night in burlington, vermont. thousands of trump supporters waited for several hours in the cold as well as hundreds of protesters. it came as trump unleashed a new attack on the clintons with a new ad challenging hillary clinton's record on women's rights saying she enabled the former president during his sex scandals. but mr. clinton on the campaign trail in iowa refusing to take the bait. >> it hasn't been a very pretty picture for her or for bill because i'm the only one willing to talk about his problems. >> and are you wor

shanghai index down more than 7% triggering the shutdown and as was the case monday it was because of worries about china's economy. the central bank again devalued the country's currency and this morning other asian marks are down. >> north korea's claim of a nuclear bomb test doesn't seem to be a factor in the stock market slide perhaps because there are doubts it ever happened. the white house doesn't believe the claim. the uts u.s. immediately launched so the called nuclear sniffer planes to determine whether the claims are true. already many are skeptical. >> the reported size of the detonation is relatively modest, north korea carried out in 2013 which i think led many experts to assume this is in fact probably a much cruder device rather than a fully fledged hydrogen bomb. >> the question now this morning, whether the north's chief backer china is willing to allow stiffer sanctions as punishment. >>> a bill to repeal obamacare is heading for the president's desk where he's sure to veto it. it also blocks funding for planned parenthood. it was a straight party line pretty muc

. chinese stocks this morning are falling yet again along with other asian markets. the shanghai index has been off as much as 3.5%. dragged down markets worldwide. u.s. stocks had their worst week in four years. all this on concerns china's economy, the world's second largest is slowing down. staying overseas, spain's princess christina goes on trial today for tax fraud. it's the first time a member of the spanish royal family has faced criminal charges. king felipe's sister is also accused of being complicit as her husband allegedly embezzled millions to fund a lavish lifestyle for them. the trial could last at least six months. >> at home, another high profile court appearance. zukt suspected jewel thief abigail kemp is responsible for a five-state robbery spree across the southeast. a spokeswoman said the fbi had gotten numerous credible leads from the public within hours of requesting help in the case. >>> it's being called the gnarliest wipeout caught on video in surfing history. week trying to tame an el nino fueled 50-foot high wave in the mavericks surf break south of san fran

economy in china. a huge market for american goods. china's main stock mark, the shanghai composite, has dropped by more than 40% since last summer. and it it is taking the world markets down with it. >> you probably don't want to check your balances every night. it will put you in a bad mood. >> the -- volatility on wall street continues and it is not clear when it will end. jill wagner, cbs news, wall street. >> the nasdaq finished the day down 5 points and the s&p 500 lost 22 points. >>> terrorists stormed a university in northwest pakistan today, killing at least 20 people, many of them students. at least one professor is also among those dead. many of the victims were reportedly shot execution- style. pakistani security forces say they killed four gunmen after a fire fight that went on for hours. a local taliban whreeder is claiming responsibility for the attacks. >>> washington reporter jason rezaiani appeared upbeat at a german hospital today. he said he could not wait to get home. he and two other americans at the hospital were freed by iran over the weekend. and a prisoner

incident at the moment. >>> financial markets are turmoil. the shanghai composite index slid almost 250 points. that is more than 7%. officials froze the market after only 29 minutes. it was the shortest trading day. stops dropped also in britain and germany. >> the dow industrials fell near 1.5% on wednesday. down 252 points. the dow hit its lowest level in three months. cbs news business analyst jill schlesinger joins us this morning. what is the fear here and could you create more fear by shutting down the stock market? >> the chinese government is seeing much worse growth than we know. therefore, they decided to devalue their currency today and makes their exports cheaper overseas. if they slow down the world slows down is the fear and bad for stocks. i believe the new trading figures they put in effect has really exacerbated the problems. we know from the triggers, at least in the u.s. market, when you put them in place for a short period of time, you let there be a breather. then markets can resume trading. that is good. when you shut them down just after 30 minutes it can get

honolulu every time. it was like a second home. and then we'd go to shanghai, we'd go to manila and we'd go to sydney, us a trail california our trips were about three weeks. i lost all my boy friends in san francisco because i was gone too long. >> pan am was the pioneer in aviation. >> the most advanced piece of commercial flying equipment in the world. >> pan am was the first airline to have scheduled service across the atlantic and pacific. they were the first ones to have actual airline terminal and have air traffic control and serve hot meals on board an aircraft. >> author and historian becker sprecher flew six years for the airline. >> the glory days that we all called them. >> she says every flier today owes a debt to one man the founder of pan am. >> juan trippe was a navy man. he decided to style the airline in nautical fashion. the port the starboard forward and aft he named the clippers for the clipper ships. and they were very romantic names. the empress of the skies the west wind. and these lovely names. >> the 707. >> flying first class on a clipper was the experienc

morning, the shanghai composite gained about 2%. at the end of an up and down day. still finished the week down nearly 10%. "wall street journal" financial editor dennis berman joins us now. take a look at one significance of what happened in terms of the rise in the chinese stock market but ask the philadelphia questions, do they remain? >> the fundamental questions very much remain for china as the economy is strong? can they grow at a pace efficient to keep everyone employed there? at a pace that keep the countries and companies and even the u.s. contributing to chinese growth. the question very much remains. >> you would add to that does the chinese government have the capacity to do something that will change that? >> well, certainly the capacity to manage the economy. managing the markets is a far different matter as you well know. trying to get the market to go win way or the next is a dangerous business. at the try to stop it and start it but in the end the markets have their own mind and the difficulty they are confronting. >> given the historically bad start here in the

rest of the world. and with this chaos in the shanghai markets there are worries the chinese don't have handle on their own economy right now, scott. >> pelley: and anthony the chinese are also the second largest consumer of crude oil. you've been looking into the impact of that. >> reporter: crude hit a low. it was $06 in may. if you drive to work, it's a huge tax break but it's painful if you work in the oil industry in houston. there's just too much supply now. if china continues to slow, there will be less demand and gas prices could stay low for a while, scott. >> pelley: anthony mason thank you very much, anthony. the folks at dow jones told us today that the plunge this week in the 30 blue chip stocks alone represents a market value loss of nearly $260 billion. ted cruz is watching his stock rise in iowa. major garrett took a ride with the republican front-runner 25 days before iowans cast the first votes of campaign 2016. >> reporter: we road with ted cruz and asked about donald trump's legal advice. >> this issue is a non-issue. the law is quite clear that the child of a u

rest of the world. and with this chaos in the shanghai markets, there are worries the chinese don't have a handle on their own economy right now, scott. >> and anthony, the chinese are also the second largest consumer of crude oil in the world. and you've been looking into the impact of that. >> reporter: yeah. crude, scott, hit a 12-year low today. $33 a barrel. the price has fallen by nearly half just since may, when it was $60. if you drive to work, it's like a huge tax break, but it's pretty painful if you work in the oil industry in houston. there's just too much supply now. and if china continues to slow, there will be less demand and gas prices could stay low for a while, scott. >> anthony mason, thank you very much, anthony. >>> the folks at dow jones told us today that the plunge this week in the 30 blue chip stocks alone represents a market value loss of nearly $260 billion. >>> well, ted cruz is watching his stock rise, in iowa. major garrett took a ride with the republican front-runner 25 days before iowans cast the first votes of campaign 2016. >> reporter: we rode with

china in triggering the slide. shanghai composite dropped. japan's nikkei fell 3%. european indexes are also down this morning. >>> britain's "telegraph" a hong kong publisher has disappeared and it may be connected to reported plans to publish a book about the love life of china's president. protesters in hong kong want answers of that and abuse china of abducting the missing workers. the other four van issued in october. >>> "the new york times" says a deadly earthquake rocked northeast india. the 6.7 magnitude quake hit overnight near the border with knee myanmar. video from the remote area shows buildings collapsed into mounds of rubble. witnesses say the shaking lasted about a minute. >>> san bernardino" sun" says inland regional facility is open for the first time since december's terror attack. 600 workers will return to the complex where 14 people were killed. counseling will be provided for those who need it. the conference center where the massacre took place remains closed indefinitely. >>> the new york "daily news" says the new powerball is one of it's biggest and estima

could be another turbulent week for investors. in the u.s. shares on the shanghai index lost more than 5%. hong kong's main index was also off sharply but markets in britain and germany this morning are mixed. last week, u.s. stocks had their worst week in four years. the dow plunged more than a thousand points. >>> first on "cbs this morning," a plan for potentially life saving new technology for cars. we will take you to the detroit >>> a mexican actress is commanding the world's attention this morning after she may have unwittingly helped take down el chapo. >> ahead what we are learning about kate del castillo. >>> the news is back this morning right here on "cbs this morning." announcer: this portion of "cbs this morning" sponsored by walgreens. at the corner of happy and healthy. ou're looking to save money on your medicare part d prescriptions, walgreens says, carpe med diem. seize the day to get more out of life and medicare part d. just switch to walgreens for savings that'll be the highlight of your day. now preview the cost of your copay before you fill. you can even ge

today chinese stocks territory as the shanghai composite index has dropped more than 20% from its december high. . oil prices are down below the key $30-a-barrel level - on mounting concerns about iranian supplies adding to a global glut. international sanctions against iran could be lifted as soon as this weekend, which is likely to lead a influx of iranian oil into the market. intel posted fourth-quarter results and 2016 projections that were mostly higher than expected. pc chip revenue year-earlier quarter, but revenue from intel's data center group which includes sales of chips for used for cloud computing and where it has been focusing its growth - rose a less than expected more. an artist in queens has found a use for those discarded christmas trees that are no longer needed now that the holidays are over. his installation is different from previous years when he's done something similar. our roger clark joins us today marks 7 years since the "miracle on the hudson." on january 15th, 2009, us airways flight 1549 made its emergency entry into the hudson river. it had just tak

disappointing economic data from china. shanghai dropped 3.5% and hang seng lost 1%. stocks on wall street rebounded scoring biggest gain in over a month thanks in mart to a small rebound in crude oil prices. the dow rose 227 points, the s&p gained 31, the nasdaq added nearly 89 points. >>> goldman sachs agreed to pay $5 billion to settle claims stemming from a sail of mortgage-backed securities. the settlement with the justice department and state regulators concerned securities sold in the years leading up to the housing bubble and subsequent financial crisis. goldman is one of the last banks to settle with regulators. >>> jetblue's website is back up-to-speed this morning. online check-ins and booking services disrupted yesterday due to a computer glitch at a verizon data center. it affected the major hubs including new york, los angeles and boston and dozens of flights were delayed. >>> there is a temporary price drop at amazon prime. amazon is shopping the price of its prime shipping and entertainment service from 99 to 73. the offer is good this weekend. amazon says it's celeb

. the shanghai composite jumped 3%. tokyo's nikkei added half a percent hong kong's hang seng rose more than 1.5%. trading resumes on wall street following martin luther king's holiday. fourth quarter trade numbers >>> trade ir r joes has salmonella concerns. it affects cash ew pieces. they were distributed in 30 states and washington, d.c. >>> the safety certification company, underwriter laboratories is warning of counterfeit labels on. >> hoverboards. the ul says it has fought evaluated the hoverboards. it does not know if they comply with any safety requirements. >>> the price of gas briefly drops to below a dollar a gallon in one town in northern michigan. during a gas war sunday night one stakes was selling gas for $47 cents a gallon. other stations in the area also broke the dollar barrier. the morning, prices are back up to about $1.40 a gallon. $1.89 a gallon. >>> at the box office this holiday weekend, there was a greater force than "star wars". the comedy sequel ended the long ticket reign of "star wars," "the force awakens." the "revenant" came in second. . >> i was act

new york stock exchange with that and more. >>> shanghai kos composite dropped 6%. the nikkei is closed for a holiday. >>> the markets in the u.s. reopened in a few hours after a tumultuous week on wall street that left the indices in the red. dow plunged 1,082 points last week and s&p 500 dropped 122 points. the nasdaq fell 364 points, or more than 7%. >>> we are getting our first look at general motors buick and vision crossover. the first new vehicle that is in from china. the revision will arrive in late spring. one expert thinks americans don't care where their cars are made. >>> a children's cold syrup is being recalled due to incorrect dosing instructions. they want customers to toss out four-ounce cherry flavor bottle of care one children's cough medicine. they carry the expiration date of march 2017. >>> it seems "star wars" be can't be forced off the top box office. on top for four state weekends. "the revenant" second place with 38 million and "daddy's home" came in third. >>> "playboy" is seeking nearly $2 million for this home in los angeles. hugh hefner won't have t

. more steep losses this morning in overseas markets. the shanghai composite dropped 6% to a 14-month low. tokyo's nikkei lost more than 2%. >>> stocks here on wall street fell as the price of oil slumped again. the dow lost 208 points. the s&p finished 29 points lower. the nasdaq gave up 72 points. >>> iran says it's in talks with airbus to buy dozens of new commercial aircraft. "the financial times" reports iran plans to buy more than 100 airbus jets. it would be one of the first big economic moves by the country now that trade sanctions have been lifted as part of a deal to curb its nuclear program. the sanctions left iran with an ageing and unsafe commercial fleet. >>> all-day breakfast turned out to be the most important meal of the day for mcdonald's. the hamburger giant reported a 5.7% jump in u.s. sales last quarter. that's its best results in four ceo steve easterbrook says all-day breakfast, it was introduced in october and was the main reason. >>> hilton is launching a new hotel chain aimed at budget travelers. it's aimed at younger guests that are looking to spend about $7

, post-rebounded on a positive growth from china. the shanghai composite jumped 3%. tokyo's nikkei added half a percent hong kong's hang seng trading resumes on wall street >>> trade irr joes has salmonella it affects cash sunday night one stakes was selling gas for $47 cents a gallon. police had to direct traffic. other stations in the area also broke the dollar barrier. the morning, prices are back up to about $1.40 a gallon. according to aaa the national is $1.89 a gallon. >>> at the box office this holiday weekend, there was a greater force than "star wars". the comedy sequel ended the long ticket reign of "star wars," "the force awakens." the "revenant" came in second. . >> i was actually going to see two along this weekend. then i fell asleep. which is pretty much how one of my week stories ends with something, something, then i fell asleep. it's about time someone else noblgd them out of the top spot. >> really, you liked it that much? >> i did, i loved it. >> i'm going to have to. i fell asleechl thanks a lot, hannah. >>> coming up on "cbs this morning," a first look at the

shanghai c composite index lost. officials suggest if the stock market turmoil continues, they might show the pace of the future rate hikes. >>> it is now 5:24. developing right now, another case of the seay cazika virus confirmed. in los angeles county, anned adolescent girl contracted it but has since recovered. this is all connected to foreign travel. the virus is carried by moss keys to mosquitos. health experts say zika causes severe birth defects. the w.h.o. is holding a briefing today. >>> five people have been arrested in connection with a brazen california jail escape, but the three inmates who actually broke out of jail are still on the loose this morning. the orange county sheriff expects more arrests in the coming days. the jail is also revising its internal procedures. the team of inmates escaped last friday. officials say they cut through steel bars and plumbing ducts before climbing on to the roof and rappelling several stories down with a rope. >>> happening today, an area man known us a the kush god will be heading back to court. he insists what he does is legal. cunningh

where were you? >> i went to shanghai, china. >> jimmy: wow. >> did a premiere. kung fu panda there. then went over to seoul, south korea. did a little kung fu panda premiere there. then zipped back. i was there for a week. zip, zip. >> jimmy: do they know you from the voice of this character? >> well, it's a cartoon. sow don't see me. [ laughter ] >> jimmy: yeah. >> and they have like asian actors doing the voice. so no. there's like -- [ laughter ] >> jimmy: not at all. >> there's no reason for me to go. but i think it helps promote the film when they know that there's a powerhouse hollywood legend. >> jimmy: i see. >> behind the thing. [ laughter ] my essence is in there. no matter what you do. >> jimmy: so it's not your voice at all on the -- >> no. but it's important that i do the red carpet there. to high five the asian actor, you know, passing the torch. [ laughter ] >> jimmy: oh, you meet the person who does the same part you that do. >> i do. and i like to do a high five with interlocking clasp for more intimacy. >> jimmy: i see. >> to bring our nations together. and let th