ABC News Update

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3:28 | 10/27/11

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Transcript for ABC News Update
-- occupy Wall Street movement is showing no signs of slowing down and today. Demonstrators are questioning the force used by Oakland California police after an -- rocket that ended up in the hospital. ABC's John Henry has the latest on a protest happening around the country. Oakland has been reoccupy it after police broke up protests on Tuesday it was the showdown. Police fired tear gas. Demonstrators took down fences riots broke out in dozens were hurt. Among them Iraq War veteran Scott Olsen now in critical condition He was struck by a projectiles protestors say it was fired by police none of the guilty pleas -- use rubber bullets. We don't have that in our inventory that's a lot and the police need to be indicted with both sides bracing for another round Oakland mayor -- struggling to keep the peace. It is peaceful. Demonstrations in the plaza. That we will maintain -- mineral -- essence. Across the nation the movement that began as occupy Wall Street is spreading in New York they marched to City Hall in snowy Denver protesters were treated for hypothermia. In Atlanta -- demonstrators are now protesting more than fifty arrests. Unfortunately these young people who've been organizing consistently and peacefully. Are now thrown into a political. Process. In Los Angeles the mayor warned protesters cannot camp out at City Hall forever they're not -- weakness we're just gonna come back stronger every time. Indian -- occupied Portland -- gone corporate incorporating the movement hoping to raise in track donations. Police say they're investigating how that Iraq -- was injured but they say they defend themselves only after they were pelted with rocks and bottles John handwritten ABC news Washington. There's a deal to rescue Europe from financial roadway at the plant has three major points first of bondholders including banks. Need to take a 50% loss or hair -- on their debt second group is increasing its bailout fund to one point four trillion dollars. And banks are being forced to raise more money the biggest hurdle could be whether bond -- take losses because that provision is voluntary. That's what they've told the bank she got to take the value down on these assets but. -- only have to do it if you'll want to -- -- that that's the real problem because a lot of the banks bought what's called credit default swaps or insurance. So that if this happens if they had to -- the discount that could collect insurance -- pretty much that out. Now they're being told it's voluntary it's a voluntary events so that doesn't trigger your insurance payment. China is also likely to play a major role in the rescue French president Nicholas Sarkozy will ask the country to provide money for the -- font. Fears of a double dipped recession have moved to the back burner numbers -- today on the GDP showing a growing. At a rate of 2.5. Percent as -- -- -- from the street explains that should have people breathing a sigh of relief. It takes that talk of a double dip recession off the table you cannot have a recession with 2.5 percent GDP growth. People are buying cars they're buying clothes they may not have done that in in the August quarter they may not have spent their money then. But they're spending their money -- remember. 90% of Americans do have jobs. The current growth rate is twice as high as what was reported in the last quarter.

This transcript has been automatically generated and may not be 100% accurate.

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