After a day of dramatic plunges, world financial markets began to stabilize. Investors remain on edge amid fears of a possible global recession. Wall Street closed lower Monday-- it's sixth worst decline in the last 112 years. Robert Cookson, Asian markets correspondent for the Financial Times, talks to Renee Montagne about the markets.
London saw the worst violence and disorder in decades Monday night. It was the third night of unrest in that city. Trouble is also spreading to other parts of Britain – to Birmingham, Liverpool and Bristol. Prime Minister David Cameron has cut short his vacation in Italy to try to deal with the crisis.
The latest phase of the European debt crisis was sparked by a fear that the troubles plaguing Greece, Portugal and Ireland would spread to Spain and Italy. Spain has been struggling for more than two years with an unemployment rate above 20 percent — the highest in Europe.
Steve Inskeep talks to former Republican Senator Alan Simpson of Wyoming about the S&P downgrade of U.S. credit. Simpson has been saying that he hopes the S&P downgrade will cause lawmakers to take deficit deliberations more seriously. Simpson was one of the chairmen of President Obama's deficit reduction commission,
Diplomats from several countries are in Syria to make an appeal to end the government's violent crackdown there. It's been five months of violence and the government continues to launch new attacks. Renee Montagne talks to Christopher Phillips, Syria analyst for the Economist Intelligence Unit, about the Syrian military's latest assaults.