At  approximately 1 PM ET, President Obama will make an address about the S&P downgrade of the U.S., as well as the Navy SEALs killed in Afghanistan over the weekend.

ABC’s special report anchored by George Stephanopoulos (Diane Sawyer is on assignment for the network) with Jake Tapper reporting from the White House. NBC will offer a special report to be anchored by Brian Williams, who will be joined by CNBC’s David Faber. CBS’ special report will be anchored by Anthony Mason, with Norah O’Donnell reporting from the White House.