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Broadcast Networks to Air Obama Statement

ABC says it will break into regular programming  to provide live coverage of President Barack Obama's statement to the press Monday afternoon, which is expected to be an effort to calm the markets and reassure American's about the economy.

NBC will go live with Brian Willams anchoring from NY with David Faber of CNBC. The network was describing its coverage of the statement as an "optional" special report, which means it will not preempt Days of Our Lives, but will instead give the stations the option of carrying the President or sticking with the soap, according to a spokesperson.

CBS will also carry the statement live with Anthony Mason anchoring out of New York (Scott Pelley is in Kenya to anchor the CBS Evening News from the famine-torn region). A CBS spokesperson said they, like ABC, will be preempting regular programming for the special report.

That comes as the Dow Jones was down over 300 points Monday after the downgrade of U.S. debt by Standard & Poors, which the administration has been highly critical of.