CBS Evening News - 1996-03-08
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Read a transcript preview of “CBS Evening News - 1996-03-08” from malgent, uploaded on 2026-02-24.
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Language: English (original, YouTube automatic captions)
[0:01] Ticker shock on Wall Street. Ray Brady
[0:04] reports tonight on a huge drop in stock
[0:06] prices and the government report that
[0:08] apparently set it off. Also tonight,
[0:11] caught on camera, a state trooper
[0:13] attacks a woman accused of speeding.
[0:15] Officials say the trooper violated every
[0:17] procedure in the book. And a satellite
[0:20] ready to crash to Earth. Round and round
[0:23] it goes. Where it will hit, nobody
[0:25] knows.
[0:28] This is the CBS Evening News
[0:32] with Dan Rather reporting from CBS News
[0:35] headquarters in New York. Good evening.
[0:37] It all began innocently enough. The US
[0:40] government this morning put out a report
[0:42] most people would consider good news.
[0:44] The unemployment rate fell 3/10en of a
[0:46] point last month down to 5 1/2 as the
[0:49] economy created hundreds of thousands of
[0:52] jobs. But on Wall Street, that was bad
[0:54] news. It ignited a huge sell-off. The
[0:56] Dow plunging more than 171 points today.
[1:00] Third biggest point drop on record.
[1:02] Correspondent Ray Bradley is here now to
[1:04] try to explain at least some of why the
[1:06] good report on jobs has the market
[1:08] worked up. Ray, what is all this about?
[1:10] Dan, today's unemployment rates a
[1:12] startling figure. 705,000 new jobs
[1:16] created in a month. The biggest
[1:18] one-month rise in more than 12 years.
[1:20] The really big gains came in
[1:22] construction and in the service sector.
[1:24] A sign the once sagging economy may be
[1:26] picking up steam. Still, that's the kind
[1:29] of good news Wall Street doesn't like.
[1:31] For months now, investors have been
[1:33] buying stocks because they thought a
[1:34] weak economy meant lower interest rates.
[1:37] Always good news