CBS Evening News - 2002-07-22
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Read a transcript preview of “CBS Evening News - 2002-07-22” from malgent, uploaded on 2025-12-23.
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Language: English (YouTube automatic captions)
[0:01] Triple trouble on Wall Street. The Dow
[0:04] posts another tripledigit loss after a
[0:06] wild ride today. And more investors say,
[0:09] "Let me off." They hit it big in the
[0:12] labor market as unions deliver the
[0:15] goods. She took hormone replacement
[0:17] therapy and got cancer. Now she's suing
[0:20] and many other women may follow. And Eye
[0:23] on America, post 911 vacations, packing
[0:26] up the car and staying home.
[0:34] >> [music]
[0:37] >> This is the CBS Evening News with Dan
[0:41] Rather.
[0:42] >> Good evening. Dan is on assignment
[0:43] tonight. I'm John Roberts. A weekend off
[0:45] did nothing to calm nervous investors.
[0:47] In fact, it brought the news that one of
[0:49] the darlings of the technology boom,
[0:51] WorldCom, was going bust. The stock
[0:54] ticker today looked like a heart monitor
[0:56] for a market in distress, swinging up
[0:58] and down wildly throughout the session.
[1:01] In the end, the sellers ruled again. The
[1:02] Dow plunged 234 points or nearly 3% to
[1:07] its lowest close in almost four years.
[1:10] CBS's Anthony Mason begins our coverage
[1:13] of a day that started with a telecom
[1:15] giant filing for Chapter 11.
[1:19] >> Excuse me, guys. Lawyers for WorldCom
[1:21] and its creditors headed for court this
[1:23] morning for the biggest bankruptcy
[1:24] filing in US history.
[1:26] >> I regret that we are in the position we
[1:29] are in today. We fought hard and
[1:31] frantically to avoid this.
[1:33] >> WorldCom fighting to stay afloat caters
[1:36] to 20 million American consumers through
[1:38] subsidiaries like MCI. Its fiber optic
[1:41] network carries as much as half of the
[1:43] world's internet traffic. But CEO John
[1:45] Sigmore says
[1:46] >> we still have not lost any su