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Hello and good Wednesday to you, I'm Stacey Elgin at the CNN Center in Atlanta. Here is a look at what is happening NOW IN THE NEWS.

Stock prices collapsed¹ in London, Paris, Germany and Tokyo overnight. Japan's NIKKEI index suffered its biggest sell-off in more than twenty years. And the Paris Stock Exchange suspended trading because of the stampede. After central banks on three continents intervened, the major global market indexes recovered some of the losses.

Less than a month and only one more debate to go until the presidential election, and emotions are coming to the surface. Last night's second debate between Senators Barack Obama and John McCain was contentious² at times. At one point McCain called Obama "that one ", and Obama suggested McCain's straight talk express lost a wheel.

In Portland Oregon, emergency crews are trying to figure out what caused this house to break free from its foundation and crash nearly 100 feet down a hill. Luckily, the one person inside the house wasn't hurt. It struck at least three other homes and knocked out power in the area. Just as a safety precaution a dozen or so homes have been evacuated³.

The son of a democratic state lawmaker in Tennessee has pleaded not guilty to charges of hacking⁴ into governor Sarah Palin's personal email account. Twenty-year-old David Kernell was arraigned⁵ in a federal court in Knoxville today, he was released without posting bond. Kernell, an economics student ,at the University of Tennessee is not allowed to own a computer. He can though, use the internet only for checking email and doing class work. His trial is set for December 16th. Kernnel faces a maximum of five years in prison and a 250, 000 dollar fine.

Well, how about some good news. Gas prices are down again. AAA says the national average for a gallon of regular is $3. 45 and that is down by more than three cents from yesterday. It is also the lowest price in nearly six months. Some people in Kansas are getting gas for less than three bucks⁶ a gallon. The average price there is $3. 10, but it was selling for as low as $2. 69 in Topeka.

Well that is a look at the latest headlines for you this hour. Do be sure to stay with CNN for more on these stories and other news of the day. Thanks for logging on.