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Zelenskyy and Trump Remain Split over Future of Ukraine; Siblings Tell of ICE Taking Parents; Crews Search for Victims of Deadly Flooding in Mexico; Hamas Has Released 10 of 28 Deceased Hostages; Death of Baby Girl Spotlights Female Infanticide; JPMorgan's Jamie Dimon Warns of "Cockroaches" in U.S. Economy. Aired 3-3:45a ET
Aired October 18, 2025 - 03:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
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IVAN WATSON, CNN ANCHOR AND SENIOR INTERNATIONAL CORRESPONDENT: Welcome to all of you watching around the world and streaming on CNN Max, I'm Ivan Watson in Hong Kong.
Coming up on CNN NEWSROOM. President Trump warns that giving Ukraine Tomahawk missiles could escalate the war with Russia, as he urges the conflict to end along current lines.
Trump hands out a "get out of jail free" card, releasing former congressman and convicted fraudster George Santos from prison years ahead of schedule.
And Wall Street wraps up a volatile trading week as stress in the U.S. credit markets leads investors to ask, can we still bank on banks?
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UNIDENTIFIED MALE (voice-over): Live from Hong Kong, this is CNN NEWSROOM with Ivan Watson.
WATSON: OK. Now Ukrainian president Volodymyr Zelenskyy, he's heading home, seemingly without much to show after his meeting with U.S. president Donald Trump. The two leaders remain split over the future of the conflict in Ukraine, following several hours of talks in the White House on Friday.
Mr. Trump suggested the fighting should stop along the current battle lines.
(BEGIN VIDEO CLIP)
DONALD TRUMP, U.S. PRESIDENT: They should stop the war immediately. You go by the battle line wherever it is. Otherwise, it's too complicated. You'll never be able to figure it out. You stop at the battle line and both sides should go home. Go to their families. Stop the killing and that should be it.
Stop right now at the battle line. I told that to president Zelenskyy. I told it to President Putin.
(END VIDEO CLIP)
WATSON: Mr. Zelenskyy also failed to secure the delivery of long- range Tomahawk missiles to Kyiv. The weapon would put much of Western Russia within Ukraine's striking range. As Nick Paton Walsh reports, the two leaders are keeping much of their discussions about Tomahawks under wraps.
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NICK PATON WALSH, CNN CHIEF INTERNATIONAL SECURITY CORRESPONDENT: Ultimately.
We don't.
Have much detail about.
What president.
Trump and president Zelenskyy discussed when it comes to long-range U.S. Tomahawk.
Missiles but it is pretty clear they will not imminently be in Ukrainian hands.
And pretty clear, too, that we are seeing remarkable rhetoric, frankly, from the U.S. president, holding out the possibility of what he calls these dangerous missiles, where a lot of bad things could happen, potentially being in Ukrainian hands.
Now we've heard Trump make hollow threats before when it came to secondary sanctions. But this is military force potentially designed to try and push Russia toward the negotiating table.
When president Zelenskyy emerged from his talks with Trump, he said they both agreed not to discuss long-range missiles and what they talked about them because the U.S. didn't want an escalation.
And Trump was clear, he was hoping the issue of Tomahawk supply would never actually come to fruition, because he'd hoped that the meeting in Budapest between himself and President Putin, as yet to have a date set for it, would yield to some kind of peace.
He again and again suggested he believed President Putin wanted some kind of peace. Didn't elaborate why he felt that necessarily.
And indeed, after the meetings had ended and president Trump had left for Mar-a-Lago, he posted on Truth Social the fact that he believed both sides should accept a deal that leaves the front lines where they currently are.
Now that ultimately, I think might be for president Zelenskyy, something he could sell domestically. It would certainly mean that Russia's recent summer offensive has not taken the key eastern front line towns that it's had in its sights. And that, too, is a reason, potentially, why the dynamics around this
meeting in Budapest between Trump and Putin have changed slightly. Zelenskyy has weathered this Russian summer offensive. Putin had potentially hoped it would see a strategic change.
It would see the population centers he's coveted in his hands. That may happen in the weeks or months ahead. But it's not happened now and that may leave Zelenskyy a little stronger; clearly, his relationship with president Trump is a lot better. Trump called their meeting cordial and interesting.
He may not have emerged, Zelenskyy, with the long-range Tomahawk missiles he wanted. But let's be honest, the U.S. doesn't have many to spare. They have similar range to some of the long-range drones that have been fired into Russia already by Ukraine. They're way more deadly and efficient.
But they'll take a while to get into Ukrainian hands and they cost $2 million roughly each. So a lot making the Tomahawks less of an immediate game changer on the battlefield.
[03:05:00]
The psychological impact of this being signaled. Though potentially key here, President Trump wouldn't have dreamed nine months ago of threatening Russia with military force. Now that's something potentially on the table, delivered via proxies.
All eyes on Budapest, though. And potentially too, as to how these changing dynamics on the battlefield are impacting Russian calculations for the months of fighting ahead, Zelenskyy didn't get everything he wanted out of this meeting in Washington.
Far from it, indeed. But he certainly emerged, I think, in a stronger position than we've seen him in terms of his relationship with the United States and on the battlefield than we've seen him over the past months.
(END VIDEOTAPE)
WATSON: To South America now, where president Trump is appearing to confirm reports that Venezuelan president Nicolas Maduro offered the U.S. preferential treatment to his country's natural resources.
Mr. Trump said Maduro's offer was in exchange for bringing down the temperature between the two countries. As CNN's Patrick Oppmann reports, president Trump directed some strong language at the Venezuelan leader.
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TRUMP: He has offered everything. He's offered everything. You're right. You know why?
Because he doesn't want to fuck around with the United States. PATRICK OPPMANN, CNN CORRESPONDENT (voice-over): President Trump claiming his Venezuelan counterpart may be ready to strike a deal after the sixth U.S. strike targeting alleged drug trafficking boats in the Caribbean. As numerous U.S. navy destroyers and aircraft patrol off the country's coast. Trump also threatening strikes on land.
TRUMP: We have a lot of drugs coming in from Venezuela and a lot of Venezuelan drugs come in through the sea, so you get to see that but we're going to stop them by land also.
OPPMANN (voice-over): Trump publicly revealing he authorized the CIA to carry out operations inside Venezuela. He says to stop the flow of drugs and migrants.
REPORTER: Does the CIA have authority to take out Maduro?
TRUMP: Oh, I don't want to answer a question like that.
NICOLAS MADURO, VENEZUELAN PRESIDENT (through translator): Never before had any previous government since the CIA has existed publicly said that it was sending the CIA to kill, to overthrow and to destroy countries.
OPPMANN (voice-over): Maduro, who faces a U.S. federal indictment on drug trafficking charges, which he denies and a $50 million bounty for his capture, is accusing Trump of trying to topple his regime and is responding with both a military buildup and a propaganda campaign, calling the U.S. a Nazi empire with supremacist ideologies.
Maduro is digging in and has implored the Venezuelan people to join militias to fight against any U.S. intervention. Venezuelan state TV, even showing videos of some of the training, which includes calisthenics and the basics of handling firearms.
Thousands have reportedly heeded his call but many appear to be senior citizens or raw recruits with little to no military experience.
MADURO: Our mobilization will be permanent and never stop.
OPPMANN (voice-over): Maduro posting this video to Instagram today with a message. We continue completing all the necessary preparations, reaching the optimal state for the integral defense of the homeland.
Maduro, even trying in broken English to send a message directly to the American people.
MADURO: No, not war. Just peace.
OPPMANN (voice-over): Patrick Oppmann, CNN, Panama City, Panama.
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WATSON: Four police officers have been injured in violent clashes near the U.S. embassy in Bogota, Colombia. Protesters on Friday confronted police by throwing fireworks and explosives and shot arrows. Authorities responded by firing water cannons to disperse masked
demonstrators. This all according to the city's mayor. The confrontations took place amid broader protests by the Congress of the Peoples. That's an organization representing indigenous and peasant peoples.
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UNIDENTIFIED FEMALE: You don't got to do that.
You don't got to do that.
WATSON (voice-over): This new cell phone video shows a group of bystanders in Chicago, trying to stop what appears to be an arrest by ICE agents.
It happened Thursday morning, shortly after a federal judge voiced frustration that the Trump administration is not following her order limiting the intensity of the federal response to protesters.
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WATSON: Chicago has become the epicenter of president Trump's immigration crackdown and now he's asking the U.S. Supreme Court for approval to deploy the National Guard in the city. The administration claims federal officials there have been threatened and assaulted.
Another federal court judge blocked the deployment of the Guard into Chicago earlier this month.
As the Trump administration pushes ahead with its mass deportation agenda, countless families are getting caught in the chaos.
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A video that recently went viral on social media captured one family's worst moments as the parents were taken away by ICE. Our Maria Santana talked to two of the siblings that were left behind.
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YURITHSI ENCISO, PARENTS DETAINED BY ICE: It's OK. Please. It's OK, we're OK.
MARIA SANTANA, CNN CORRESPONDENT (voice-over): This video quickly spread across social media. A teenage girl on the side of the road shielding her younger siblings as ICE agents arrest their parents and older brother after a traffic stop in September.
UNIDENTIFIED MALE: Your brother, is he a citizen?
Y. ENCISO: We don't answer questions.
That's all I -- that's all I could say, like no other words came out of my mouth. I was not prepared for that. SANTANA (voice-over): 19-year-old Yurithsi Enciso and her 22-year-old brother, Moises Jr., speaking publicly for the first time about that viral moment that they say turned their lives upside down.
Y. ENCISO: My heart was just -- it kept pounding, kept pounding. My legs, my hands kept shaking.
SANTANA (voice-over): She says was only able to hold it together for her 12-year-old sister and her little brother who was turning 10 that day.
Y. ENCISO: I didn't want them to see me crying because that was going to affect them more.
SANTANA: Yes.
Y. ENCISO: So I just had to make sure they were calm. It's OK. We're going to be OK.
SANTANA (voice-over): Moises Jr. says that morning he went with his parents to pick up supplies at Home Depot before the family's birthday celebration when they were pulled over for allegedly making an illegal U-turn.
He recalls three ICE vehicles blocking them in and agents surrounding their car, demanding to see their IDs.
MOISES ENCISO JR., PARENTS DETAINED BY ICE: And they just kept asking us these questions and my dad kept looking back at me and saying, like, should I answer?
What should I do?
And I was kind of like also panicking.
SANTANA (voice-over): Yurithsi and Moises Jr. both are awaiting approval for deferred action for childhood arrival status or DACA. Their siblings are U.S. citizens.
According to DHS, their parents, Constantina Ramirez and Moises Enciso Sr., are undocumented Mexican immigrants. They have lived in Cicero, a suburb outside of Chicago, for nearly 20 years, the family attorney told CNN. They are now being held in separate detention centers.
Y. ENCISO: And I remember that first night. The first thing I wanted to do was sleep in my mom and Dad's bed, because it felt like if I was sleeping there, I had like a part of them.
SANTANA (voice-over): That night marked the beginning of a new reality, one where they were suddenly left to care for their younger siblings.
Y. ENCISO: They haven't been doing good. They're always saying that they miss them. Whenever we're, like, about to eat and like, oh, we didn't -- like, they have flashbacks about my mom and dad: Oh, remember when momma did this? And then, they just like, go quiet. They're sad.
SANTANA: What would it mean for your family if they were to get deported?
M. ENCISO: I try not to think about it.
Y. ENCISO: What?
SANTANA: Oh, so sorry. It's hard.
M. ENCISO: I think we don't know. That we don't know if my siblings can stay here with us. Like, we don't know if they have to go to Mexico. It's just a lot of, like, insecurity or uncertainty that we just don't know.
SANTANA (voice-over): According to DHS, if the parents have a valid claim, it will be heard by a judge. If not, they will be subject to removal.
But their children say they'll keep fighting until their family is together again.
M. ENCISO: I think listen (ph).
Y. ENCISO: (INAUDIBLE). They're hardworking people who -- I don't know but I consider my parents were best friends. I know they're going to be there for me and support me.
SANTANA (voice-over): Maria Santana, CNN, Chicago.
(END VIDEOTAPE)
WATSON: OK, new video has come in to CNN showing what appears to be federal immigration agents in an unmarked vehicle, slamming into a U.S. citizen's pickup truck.
Leo Martinez, an immigration rights volunteer in California, says he was driving through his neighborhood, monitoring ICE activity, when agents rammed his truck and took him into custody. Martinez was hospitalized, then later booked into a downtown Los Angeles detention center. And he spoke to CNN after the incident.
(BEGIN VIDEO CLIP)
LEO MARTINEZ, CALIFORNIA IMMIGRATION RIGHTS VOLUNTEER: I was in shock. I knew at that point I was going to end up in handcuffs for sure.
And in that moment, my biggest fear was stopping the car and getting out, because these are the same agents that have already pulled guns out on a bunch of us. And in the street where this happened, it was a very lonely street. There wasn't a whole lot of traffic going on.
I'm surprised. I didn't know about the footage until after I got released from detention but my goal at that point was to get somewhere where there was a lot more witnesses.
In my head, I was like, if they're going to drag me out, beat me up and scrape me up, I'd rather have them do it in a -- in an open public area where everybody could see, as opposed to a random side street, where there's not going to be any witnesses. That was the only thing that was going through my head at the moment.
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WATSON: CNN has reached out to both DHS and ICE repeatedly since Thursday but so far no response from either agency.
All right, flooding in Mexico has left thousands without homes, food or basic services. Coming up, the latest on the search for the missing in the wake of last week's destructive storm.
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WATSON: Welcome back.
In Mexico, crews are searching for at least 4 dozen people still missing after deadly flooding and landslides. Mexico's president said Friday that at least 72 people died during heavy rains and devastating floods last week. Victims say humanitarian aid is slowly arriving in impacted areas. CNN's Valeria Leon reports.
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VALERIA LEON, CNN CORRESPONDENT (voice-over): Amid the wreckage, neighbors in Poza Rica, Veracruz, find a body swept away by the flooding of the Cazones River last week.
"What we saw was a dead person," this resident says.
A grim discovery for Santiago, who's been looking for his wife, Leticia Garcia, missing ever since the intense rains devastated this estate eight days ago.
"We took a video of her for testing it because it could take days before the forensic team arrives."
The damage is immense. The army and navy are racing against time to reach 90 isolated communities, cut off by landslides and flooded roads.
"There are many missing people here," Veracruz resident Guillemina (ph) says.
And amid the rubble, the military has been using heavy machinery to remove debris. President Claudia Sheinbaum promised her government won't spare any resources to help the victims and rebuild devastated areas.
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Her administration has approved more than $1 billion for recovery efforts.
"We have a plan to restore communications."
The smell of rubble and waste is unbearable. Residents wear masks to cope. Lime powder has been sprinkled to reduce the stench and prevent diseases.
"Everything was ruined. We have no money, not even enough to eat."
Authorities warn it would take weeks to restore full access to some of the hardest-hit areas. Driven by hope, Santiago presses on, desperate to see if the body among the rubble is his wife's -- Valeria Leon, CNN, Mexico City.
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WATSON: In the U.S., John Bolton says he is not guilty of unlawfully mishandling classified information. President Trump's first-term national security advisor entered the plea in federal court on Friday. Bolton is the third Trump critic to be indicted in the past month.
This follows charges against former FBI director James Comey and New York attorney general Letitia James, who successfully prosecuted Trump on felony fraud charges. Unlike the prosecutions against Comey and James, people briefed on the matter said Bolton's case has the support of career prosecutors and investigators.
President Trump has commuted the prison sentence of disgraced former Republican congressman George Santos. Santos is just months into what was meant to be a seven-year term for his conviction on charges of wire fraud and aggravated identity theft.
Kristen Holmes has more from the White House.
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KRISTEN HOLMES, CNN NATIONAL CORRESPONDENT: On his way to Palm Beach, president Trump announced.
That he had commuted.
The sentence of disgraced.
Republican congressman George.
Santos, who had been serving.
Seven years in a federal prison after pleading guilty to both identity fraud and theft.
Now this commutation is somewhat interesting and surprising, given the fact that president Trump has been in office now for roughly nine-plus months and he's been lobbied hard by Santos but as well as some other Trump allies to give Santos a pardon or at least commute his sentence.
He's shown no interest in doing so until now. What he posted on Truth Social was essentially linking this commutation to Democratic senator Richard Blumenthal, saying that Blumenthal had lied and he never had to go to jail.
So why should Santos have to go to jail?
Now this is not the first time that president Trump has commuted the sentence or pardoned a former Republican politician. He also did so for Republican Michael Grimm, as well as a Connecticut governor, among others.
But it was interesting, given the fact that president Trump had been lobbied routinely and never done it before.
Now one interesting point, unclear at this point whether or not this played a role. But earlier this week, Santos wrote an open letter to president Trump, once again asking for that pardon. He posted that on his Twitter -- now X -- page -- Kristen Holmes, CNN, the White House.
(END VIDEOTAPE)
WATSON: OK, a heartbreaking tragedy is sparking outrage in India. Ahead, how it has reignited a national conversation on gender equality and the value placed on having sons over daughters.
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WATSON (voice-over): Welcome back. I'm Ivan Watson, broadcasting live from Hong Kong. Let's take a look at today's top stories.
U.S. Tomahawk missiles will not be headed to Ukraine, at least for now. President Donald Trump made the announcement at Friday's talks with his Ukrainian counterpart, Volodymyr Zelenskyy. Mr. Trump also pushed for a ceasefire along the current front lines.
President Donald Trump on Friday appeared to confirm reports that Venezuelan president Nicolas Maduro offered the U.S. access to his country's natural resources. This comes as Maduro rolled out a new defense strategy to help prepare for a potential U.S. conflict.
Israeli officials say the body of a hostage handed over by Hamas on Friday has been identified as Eliyahu Margalit. The militant group has now released 10 deceased hostages since reaching a ceasefire deal with Israel last week. But 18 still remain in Gaza. CNN's Jeremy Diamond is in Tel Aviv following the latest developments.
(BEGIN VIDEOTAPE)
JEREMY DIAMOND, CNN JERUSALEM CORRESPONDENT: One week in and the ceasefire agreement between Israel and Hamas is indeed standing, although there's no
question that it has been a tenuous and fragile ceasefire, one that has been tested in multiple ways over the course of the last week, beginning,
of course, with the release of the bodies of deceased hostages by Hamas. We have seen that Hamas has released nine of the 28 deceased hostages, that it
has been holding inside of Gaza and Israeli officials, as well as the families of those deceased hostages, have been complaining that that has
been too slow of a pace that they expected to see more remains of deceased hostages be released at this point in the ceasefire agreement.
And as a result of that, we've seen Israeli officials threatening to slow the entry of humanitarian aid into Gaza in retaliation for all of that. But
the reality on the ground is that the ceasefire is holding Israeli officials have, in fact, allowed the required quantities of humanitarian
aid, at least at this point in time. On Wednesday alone, for example, some 700 trucks of humanitarian aid entered Gaza, according to internal Israeli
documents that CNN has reviewed.
Remember that under the ceasefire agreement, it's 600 trucks a day of humanitarian aid that are required to enter. And it does seem like that
surge of humanitarian aid is beginning to take place inside of Gaza.
As for the Hamas side of things, we've spoken with senior U.S. advisers who've indicated that they are satisfied with the pace of the number of
remains of deceased hostages that have been released so far. They acknowledge what Hamas has said, which is that there are very difficult
conditions on the ground, that Hamas is having trouble accessing some of those bodies, which appear to be beneath the rubble of buildings that were
struck in Gaza by the Israeli military.
And so, there is an effort with specialized teams from Egypt and Turkey to try and recover some additional remains of deceased hostages.
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That has been made difficult by the lack of specialized and heavy machinery inside of Gaza to sift through the rubble, where there are not only the remains of
some of these deceased hostages but also believed to be the bodies of thousands of Palestinians across the rubble inside of Gaza.
Now the humanitarian situation in Gaza still remains dire. There's no question about it. It will take weeks for the situation to stabilize
because the needs are so great. Everything from shelter to food to medical supplies, all of that in short supply at this moment. And then, of course,
there's the question of negotiating the next phases of this agreement. And President Trump has made clear that Hamas must disarm. He has also made
clear that the war could restart at any point on his say so.
But the parties are in the midst of negotiations over all of that. In the Egyptian city of Sharm el-Sheikh to discuss everything from Hamas giving up
power, Hamas disarming and, of course, ultimately the withdrawal of all Israeli troops from Gaza.
Jeremy Diamond, CNN, Tel Aviv.
(END VIDEOTAPE)
WATSON: To Northern India now, where the story of Baby Pari has come to a heartbreaking end. The little girl has died. There was a moment of hope when she was found alive, buried in the earth and barely clinging to life.
But as Hanako Montgomery reports, authorities are investigating whether Pari, whose nickname meant "angel," was abandoned simply because she was a female.
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HANAKO MONTGOMERY, CNN CORRESPONDENT (voice-over): Her hand was the first thing farmer Shyam Babu saw poking through the dirt. A baby girl around 15 days old was buried alive here.
CNN has chosen not to show the mobile phone footage taken by locals the moment she was pulled from the ground. But this is the scene in North India's Shahjahanpur district of locals gathering to help.
"It's a girl," they shout after hearing her soft cries. They gently remove the soil and hand her to a policeman, who places her in a female villager's arms before she's rushed to hospital. SHYAM BABU, PARI'S RESCUER (through translator): When I saw the scarf, a child's hand sticking out of the dirt caught my eye. I went closer and saw its fingers were moving and could sense a heartbeat.
Her head, some of which was visible, was also moving. I was terrified and thinking about how someone could bury a child alive. I felt very sad and began to cry.
MONTGOMERY (voice-over): Babu says he ran for help, afraid he'd be falsely implicated if he touched the child himself.
Police are investigating multiple theories for the motive, like her parents mistaking her for dead or far grimmer theories: rejecting her for syndactyly, a birth defect where two or more fingers or toes are joined together.
There's another theory, too: that they didn't want a baby girl; a reality of female infanticide in India and a deep-rooted social preference for boys.
As a search began for her parents, doctors treating her found she had a severe infection, respiratory distress, injuries and sepsis. But they were hopeful about her recovery, even giving her a name: Pari or "angel" in Hindi.
But just a day after CNN's team left, Pari died.
India has one of the worst gender imbalances in the world. In rural communities like Shahjahanpur, daughters are often seen as a burden. A 1994 law looked to curb female infanticides and sex-selective abortions by banning the disclosure of a baby's sex during ultrasounds.
SAPNA SINGH, SHAHJAHANPUR RESIDENT (through translator): Earlier, people would openly say they weren't (ph) boys. Now they don't. They don't share anything with others. They do whatever they need to do within their four walls.
They will just buy the medicines after getting to know if it is a boy or a girl. Whether the woman lives or not, it doesn't matter to the family.
MONTGOMERY (voice-over): Prime Minister Narendra Modi has pledged to address this issue with his campaign: Save the girl child, educate the girl child. It's a central focus of his government.
But Sarita Singh, one of the nurses caring for Pari, is skeptical over the change it could bring.
SARITA SINGH, NURSE (through translator): No one is following it. It's just a catch phrase. Humanity has been killed by burying this child in the ground.
MONTGOMERY (voice-over): For Shyam Babu, the farmer who found Pari, the discovery still haunts him. He has two daughters of his own and he and his family even considered raising Pari themselves. BABU (through translator): My wife was very worried. She kept saying I should bring the baby home so we could look after her, that there would be no problem. I would work harder and raise her. We would not cause any sorrow to our children.
MONTGOMERY (voice-over): After the news of Pari's death, CNN spoke to Babu again.
BABU (from captions): I took her out of the dirt but now she has returned to the soil. What do I do now?
I was hoping to meet her.
MONTGOMERY (voice-over): Pari won't be the last baby girl in India whose life ended far too soon. Pulled from the earth, only to return: an angel before her life could begin -- Hanako Montgomery, CNN.
(END VIDEOTAPE)
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WATSON: When you see one, there are probably more. That's what JPMorgan's Jamie Dimon said about cockroaches when asked about some recent bankruptcies and bad loans getting his attention in the U.S. economy. CNN's Matt Egan has more on what's worrying some investors.
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MATT EGAN, CNN BUSINESS SENIOR WRITER: Beyond the confusing trade.
War and the.
Slumping job.
Market. A new worry has emerged in recent days. Bad loans going bust. Back-to-back bankruptcies last month in the auto industry have left some investors wondering what else is lurking on balance sheets.
And what would those loans look like in a potential economic downturn?
Now count JPMorgan CEO Jamie Dimon as among those who are concerned that perhaps too much money has been lent to too many weak companies. Take a listen to how Dimon talked about these recent bankruptcies.
(BEGIN VIDEO CLIP)
JAMIE DIMON, CHIEF EXECUTIVE OFFICER, JPMORGAN CHASE: My antenna goes up when things like that happen, and I probably shouldn't say this, but when you see one cockroach, there's probably more. And so, we should -- everyone should be forewarned in this one.
(END VIDEO CLIP) EGAN: Many on Wall Street were caught off guard last month when a subprime auto lender called Tricolor suddenly imploded. Even JPMorgan lost about $170 million in that bankruptcy.
But then weeks later, there was another bankruptcy, an auto parts supply company called First Brands, also filing for bankruptcy. Investment bank Jefferies has been caught up in that collapse. Jefferies' share price has fallen significantly as that incident has shaken confidence among at least some investors.
Though Jefferies has pushed back by saying, one, they can easily handle any potential financial losses here. Jefferies also pointed out that the bankruptcy of First Brands was likely linked to apparent fraud and that the Justice Department is reportedly investigating.
[03:40:04]
Still, though, fears have spread beyond Jefferies, with regional banks Zions and Western Alliance revealing that they lend to businesses that defrauded them, too, leading to significant losses.
Now market veteran Michael Bloch, he told me that everyone is just waiting for the next shoe to drop. He said it's possible that this is a false alarm. He said it's also possible that, where there's smoke, there's fire.
And look, it's easy to dismiss this as just a Wall Street story. But this matters to Main Street as well. These bad loans and bankruptcies are linked to the struggles that many are feeling on Main Street, where prices are high and hiring is low.
And yes, some people are falling behind on their car loans. And look, if banks suffer further losses here, this is going to give them less firepower to lend to the healthy small businesses, consumers and corporations at the heart of this economy.
So hopefully these are just isolated incidents and not the first shoes to drop in a more significant problem.
(END VIDEOTAPE)
WATSON: OK. Now paleontologists in England, they have unearthed one of the longest dinosaur trails ever discovered. It was revealed after researchers conducted a controlled explosion at a quarry in Oxfordshire.
The trail, a kind of dinosaur highway, stretches more than 700 feet or 200 meters and dates back at least 166 million years. Look at it there.
Experts say these huge prints likely belong to sauropods. The herbivores roamed this region during the middle Jurassic period.
All right. Thanks for joining us. I'm Ivan Watson in Hong Kong. "WORLD SPORT" is coming up next.
