Narrative:

Eecs (electronic engine controllers) both went to alternate mode then we ran checklist. During completion; both pfds showed altitude and airspeed deviation in yellow. Not sure which was correct; we began running the airspeed unreliable checklist. At this time autothrottle and autopilot were off and captain was flying. We [advised ATC] with hopes of getting lower and cleared to 12;000 ft. Captain airspeed was low and first officer (first officer) side was almost to redline in descent. Neither of us properly used the standby airspeed for back up. At about 32;000 ft; both pfds began working again and the aircraft was still in and remained in positive control by the captain.

Google
 

Original NASA ASRS Text

Title: The First Officer of a B737-800 reported that both EEC's and both PFD's went into ALT mode and airspeed deviation in yellow.

Narrative: EECs (Electronic Engine Controllers) both went to Alternate mode then we ran checklist. During completion; both PFDs showed ALT and airspeed deviation in yellow. Not sure which was correct; we began running the Airspeed Unreliable Checklist. At this time autothrottle and autopilot were off and Captain was flying. We [advised ATC] with hopes of getting lower and cleared to 12;000 ft. Captain airspeed was low and F/O (First Officer) side was almost to redline in descent. Neither of us properly used the Standby airspeed for back up. At about 32;000 ft; both PFDs began working again and the aircraft was still in and remained in positive control by the Captain.

Data retrieved from NASA's ASRS site and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.