Update: Stock markets suffer worst declines in 30 years

Congress is discussing what economic or financial measures it could put in place to allay concerns of a recession. We talk to Jared Bernstein, economic adviser to former vice president Joe Biden, and ask him what should be done to combat any potential slowdown. Meanwhile, Chris Low, of FHN Financial in New York, runs us through how one of the worst trading sessions in 30 years affected stocks, commodities and bonds. He puts today's fall into a historical context.