1,600 points at its low. It represents a paper loss of 1. 4 trillion. Stock futures are trying to stage a comeback of sorts. Joining me for a report. Nicole, after it went down 700, it started trading down in 50point inkrements. When it goes in 50point increments, you know you are in trouble. Thats when you say whoa it happened so quickly. About 3 00 we were down 750 points. By 3 11 we were down 1,600 points. They had sold off everything. They jumped out of everything. Thats when you start to feel its programmed trading. David Program Trading are computers. Were the human beings on the floor panicking . One of the traders said i just bought. Right near the low. The truth of the matter is people are looking for better value. We have had a market that has run up since november of 2016. One trader said we are down a couple of days, but thats not the story, the story is we are up 400 days. So a little bit of a selloff is okay. David even though the programming trading was going on with a vengeance. There was a sense that perhaps this is going to calm down after they get it out of their system . You want to get a correction in. We want that 10 mark. We are just over 10 on the dow at one point. They wouldnt be surprised see us try to touch those levels again. Dont be surprised if you see a pullback. I saw neil cavuto talking about that. Taking it all in stride. He said im look to buy more of my amazon and netflix. And the people if you are watching the market every dane you are worried about losing money, maybe you shouldnt be in it in the first place and you want to make a safer investment. David you talked about that one trader who had 1600 in. There really isnt any fear. There is plenty of hope not only in the stock market but in america. Tax plan and the corporate earnings. One person was saying you are not going see great corporate earnings because you have seen an improvement and markets selling off. Its a real understanding of understanding whats happening win nation and Interest Rates. They were betting you might see some more selling. David you stay with us. Well bring in king view martin asset market. And scott, i want to go to you first. Nicole put it perfectly. The fact there is more hope than fear. Not only in the markets but also in america in general. When you see down moves like this. We have seen percentage losses even more than we saw today. When you see them in context of a healthy economy. Generally healthy economy, it doesnt last long, does it . It shouldnt. I throw on top of that a healthy earnings environment and Healthy Administration with respect to business. For the first time in 8 years. So there are tail winds. Nicole talked about how if somebody is watching these markets kick by kick. 50 points by 50 points. They are more than tick by tick. You probably shouldnt be in these risk assets. You should be in cds, money markets and heavier in bonds than equities. There are risky areas that got overinflated. Markets overshoot on the up side and overshoot on the down side. Now we are trying to you find thats question lib yum where fair where equilibrium is trying to be attained. David we had an 8,300 point gain since the election. You point out earlier it usually takes 6 or 7 years to get that kind of gain and we had it in 14 months. You are correct. We have nod not had a bear market of consequence sphoins 09. I think everybody on their comfy couch thinking nothing can go wrong with the market and we may be starting to unwide this crazy unwind puffed up asset prices. I believe there is probably more to go than most of think. And i would not be surprised to give back half what we got from the election which would be 1,500 points. Danielle, its clear Central Banks have been buying up too many assets the past couple years to keep the Interest Rates low. Now that economies are beginning to get healthier they think its time to unwind that. How much damage will that do to the markets beyond what happened today . If market history is any guide, well see a robust turn around tuesday. We could see uptrading for the rest of the week. Last year it was as have enron and Lehman Brothers and bear stearns were crashing at the same time because there was a record 2 trillion dollars of quantitative easing pouring into the market by put us on our comfy couches. 2 trillion to 1 trillion. And if the stock market is as its suppose to be, a forwardlook mechanism, its anticipating the doctor will only give half of the methadone in 2018. Well anticipate that and fall off. We did see the bond market rally today. David the bond market is in trouble. What happens when the Central Bank Gives up the assets they have been holding. The marketplace is filled with all these bonds. When there is too much of something, the only way you can make it desirable is to raise Interest Rates. Wont that do damage to the market . Today he had a individually and i was impressed with his poise, and was very articulate. He made the statement, im happy the Financial System is so much stronger than it was. Allen greenspan came to August August 11, 1987. At least he had a twomonth month honeymoon before crash day. The question is, is he going to blink and begin to unwind the Balance Sheet . Er. Is he going to pull back on that commitment. David, one of the outcomes of easy money is risk take and learn. Margin interest is its highest ever and its your best friend in bull phase and worst enemy in bearish phases. And somebody who has 100,000 in stock on margin, that margin thoos come off first. Im not sure thats happened yet. So its something to watch. David the economy is doing damn well. All the indicators are positive. And we havent had effect of all that cash abroad coming back that will be invested here in the united states. We havent had the effect of all the raise and salaries, and the extra bonuses. Once all of that begins to kick in more than it has. Wont that give even more of a boost to the economy and reflect itself in a healthier market . I think thats the foundation to the floor. Dont forget the Treasury Department which is getting records in. Lets look back at the history of the cbo and how right they have been. Whats interesting. They have an agenda like we have seen before from some of the other think tanks. Unlike 07 or 2000. There arent Warning Signals flash like there were in previous crashes. Things are actually i believe just starting to reaction celebrate. David sometimes the stock market doesnt reflect the economy. During the Obama Administration sometimes the economy was terrible but the stock market was going up. We got great news about jobs friday, and there were details about people getting more money. But that concerned a lot of people about inflation. Whether thats going to stimulate inflation more than it has been stimulated. Wage growth has been front and center. Thats something we wanted. That spooked the market. You shouldnt think rates going up. We are coming off historic levels. Its more a normalization than rate hikes. Wage growth is wonderful. Thats what we want to see for the American People. What is worrisome is the nikkei of japan. And we are seeing this divergence of our own futures looking higher. But after the bell they were look low. Expect some volatility tomorrow morning. David the fed should be focusing on the value of the dollar. That took a hit when we heard our treasury secretary mnuchin suggest the dollar should be worst less than it is. The day before the treasury secretary james baker said the dollar was too strong. I wonder if talking down the dollar is the wont markets went down. Secretary mnuchin after make those comments he wisely tried to back off of the following day. But the word were set in stone. The markets reacted accordingly. It looks like the dollar. If the markets begin to anticipate we should see the dollar strengthen. David i dont have time for more than a round robin. But nicole, what happens tomorrow. Do we see a dow ending lower or higher . Higher on the end of the day, wild guess. David scott martin . Down early and higher by the end of the day. David gary . I think we are going lower the next few weeks, probably lower tomorrow. David danielle . I would agree for the longer time, but tomorrow should be turnaround tuesday. David thank you very much, scott, gary, danielle, nicole. Thank you for joining us for this fox business special report. Market coverage continues tomorrow morning on fox business at 5 00 a. M. Its easy to think that all Money Managers are pretty much the same. But while some push High Commission investment products, Fisher Investments avoids them. Some advisers have hidden and layered fees. Fisher investments never does. And while some advisers are happy to earn commissions from you whether you do well or not, Fisher Investments fees are structured so we do better when you do better. Maybe thats why most of our clients come from other Money Managers. Fisher investments. Clearly better money management. I tabut with my back paines, i couldnt sleep and get up in time. Then i found aleve pm. Aleve pm is the only one to combine a safe sleep aid plus the 12 hour pain relieving strength of aleve. Im back. Aleve pm for a better am. Kennedy President Trump says the release of the nunes memo profits entire saga is a witch hunt. He has escalated his criticism of the fbi. My next guest is the only former fbi agent serving in congress. He says we cant judge an entire Institution Due to the actions of a few bad actors. I am intrigued by all of this. Everybody is choosing whatever adventure they would like from the dueling memos. But you say the memo from last friday raises more questions than answers. I read the memo. It identifies certain individuals and the facts contained therein were troubling to say the least. Kennedy what was the most of troubling for you. It goes to the fisa affidavit and fisa application process. What facts were included and not included that were exculpatory. We need context to these facts. Wheat believe in transparency, it has to be complete transparency. We have to cheer from both sides and put the facts into context. Kennedy also look at the shared facts and see what we can glean from that. But we dont get to see these fisa applications. There is so much about these processes that are secret. If there is one good thing that comes from this, i hope it, the realization that the American Public can stomach transparency and its bert for the process and liberty at the same time. One of the reasons we need to do this. I fought hard for the reauthorizing section 702. So if we are going to have credibility in trying to reauthorize section 702, we have to be honest with the shortcomings of title 1 of fisa so the American People have confidence when we make decisions down here that we are being transparent and honest with them. Kennedy there are those of us who lost confidence long ago it many just too easy to abuse that power these agencies are entitled to, especially when they are operating with such secrecy. There is more of a disconnect than ever. Now we are seeing how easy it is too compromise liberty in the pursue of security when you deserve neither but you attain neither. The continue number all these cases is the need for confidentiality. And the publics need and desire for transparency. We have to factor those competing concepts and make a facts specific combination. Last week the president reis nighted the conversation surrounding something near and dear to this show, and thats the right to try. Its stuck in limbo in the house after unanimously passing the senate. Congressman, you introduced the right to try act in the house in february. Whats the holdup . If you have the president s support and support from to both parties . We are working with house leadership. The issue is the original senate version, and the version that passed was different than the original version. The fda commissioner expressed concerns with patient and doctor certification and liability issues, and how to define the pool thats eligible for use. The right to try bill allows terminally ill people to try drugs that passed the first phase but havent made their way through the pipeline. Kennedy those who die in the process waiting for the ability to try drugs and treatment. You are fighting the good fight. I hope you were ready to reconcile this bill to give the terminal patients the dignity and hope they deserve. Not just patients, but their families. They did everything possible. Thats relevant to their peace of mind. I thank you for the attention you are bringing to it. Wee have been fighting every single day. We are supposed to meet with house leadership early this week. The president is mind it and we have got to get this across the finish line. Kennedy thanks again. Good to have you. Coming up. Just three weeks since they reached that temporary deal. Lawmakers will be heading towards another shutdown. Can they accomplish anything other than kicking the can down the road . No, please, please, oh shrieks in terror heavy breathing and snorting no, no. The running of the bulldogs . Surprising. Whats not surprising . How much money aleia saved by switching to geico. Fifteen minutes could save you fifteen percent or more. For all the noses that stuff up around daisies. For all the eyes that get itchy and watery near pugs. For all the people who sneeze around dust. Theres Flonase Sensimist allergy relief. It relieves all your worst symptoms including nasal congestion, which most pills dont. Its more complete allergy relief. And all from a gentle mist you can barely feel. Flonase sensimist helps block 6 key inflammatory substances. Most pills only block one. And 6 is greater than 1. Flonase sensimist. Kennedy government funding running out thursday. House could vote on an interim spend bill as early as tomorrow to avoid another shutdown. John mccain teamed up with democrat chris kcoons. It does not include funding for the president s wall. The president tweeted any deal that doesnt include Border Security and the desperately needed wall is a total waste of time. Welcome back to the show, chris stirewalt. I heard him saying lets make a deal, come on. Chuck and nancy. Kennedy little adam schiff. Be friendly here. What is the holdup here and why are we only seeing crisis legislation . Because humanity has failed. No, we knew that before. The issue here is that republicans desperately, increasingly desperately want to get rid of these mustpass things. Democrats have chosen daca which gets better to them as a subject the closer they get to the deadline. Kennedy you mean because they are using the dreamers as bargaining chips . As human shields. I guess they both are. The republicans are saying we want x in exchange for protecting these people and the democrats are swieg wants y. Kennedy you are seeing Bipartisan Legislation in to both houses of congress. It sounds like you have republicans souring on the wall. Republicans were pretty sour on the wall to begin with. I have heard many, many, many, many different ways the way republicans defined down the wall. Trump has defined it in a way people didnt understand in is a way through this. What this Bipartisan Legislation represents is a challenge to republican efforts to find an offramp here. There is legislation from rob portman of ohio. Thats what you will see, a simpler, smaller deal thats a oneforone tradeoff. If people didnt care when they shut down over a weekend, if we continue to govern like this and see these problems, markets wont like the and they will punish washington. Kennedy so will the freedom caucus. They want a piece of spending legislation that doesnt equate to every month or so screaming holy under wear and running through the aisles of such a sacred institution. Kennedy i dont know what you call it, but i think something is wrong with the system. We are getting unnecessarily dramatic. Well see how this one ends, chris stirewalt. Thats an evergreen tweet right there. Kennedy nobody sought shut down in super bowl 52. The game set records for yardage, burning cars and smashed store fronts. Tom brady all but sealed the win. The phillies fans were flagged for unsportsman like conduct conduct. The party panel is a back. Welcome back, everyone. Lets talk about some of the highs and lows of the game. What did you love about the game . I love the horsepuppy incident. They knew they had to couple something. Them already greased the height poles so we cant the light poles so we cant climb them. But then you say thats not going to be enough. Kennedy you remember a fan punched a horse after the phyllis division the phillys victory. This is what winning looks like. What did you like about the game other than tom brady losing and his wife being so mad they couldnt even show her miserable face at the end. It would be a beautiful miserable face. What struck me was the halftime show was 14 minutes of our life well never get back. Justin timberlakes costume has come under much scrutiny. We had the panorama, the camouflage. I think this relates to katy perrys guilt about appropriating other cultures. She was told she was not honoring other cultures. So i think timberlake was trying to look like backwoods white people. Kennedy i felt the performance was very under whelming. Prince had one of the most of legendary super bowl performances of all time. What did you like about the game or any of the events. I want to mention there are two eagles i think should get beside winning the super bowl. Chris wong has donated his entire salary partly to charlottesville for scholarships for cities. And one of the players during the creepy season where there has been so much controversy who has stepped up and said im going to be part of the players talking to Law Enforcement and talking to the league. Kennedy Actual Solutions as opposed to taking a knee for something so vague and demand that where so difficult to understand. But talking about Law Enforcement and talking with kids has a measurable impact. They were winners off the field as well as on. The fact they lost because he full bold was perfect. It was a great game overall. He looked stunned. But the nfl has a lot of work to do in the offseason. We talked about the Health Issues. The Health Issues are huge. Kennedy the ratings were down a tiny bit, but the game was fantastic. Coming up. Defense hawks want to increase funding for the military. But a report says the pentagon last track of 8 million. Do they deserve a raise . How do you win at business . Stay at laquinta. Where were changing with contemporary makeovers. Then, use the ultimate power handshake, the upper hander with a double palm grab. Who has the upper hand now . Start winning today. Book now at lq. Com. Sucthey read more. Have one thing in common. How do they find the time . With audible. Audible has the Worlds Largest selection of audiobooks. For just 14. 95 a month. You get a credit good for any audiobook. And you can roll your credits to the next month if you dont use them. Audible members get free no hassle exchanges. And use the mobile app to listen anytime, anywhere. Start a 30day trial and your first audiobook is free. Listening, is the new reading. Text audio22 to five hundred five hundred to start listening today. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. Today, the new new york is ready for takeoff. Were invested in creating the worlds first stateoftheart drone testing facility in Central New York and the mohawk valley, which marks the start of our nations first 50mile unmanned flight corridor. And allows us to attract the worlds top drone talent. All across new york state, were building the new new york. To grow your business with us in new york state, visit esd. Ny. Gov. To grow your business with us in new york state, especially when inside another amazing machine. Your an amazing machine. The lexus es. With Standard Technology like lexus Safety System plus. The lexus es, and es hybrid. Experience amazing at your lexus dealer. Kennedy the Defense Department is failing to account for hundreds of millions spent by the military. The Defense Logistics Agency has 800 million in Construction Projects that were not properly documented or accounted for. The department of defense has an annual budget of nearly 700 billion this year. The president look topic crease that spending for next year. He promised to beef up the military while eliminating government waste. How can we cut spending and make government more efficient if we dont know where the money is going. Joining me, my friend bryan suits. Welcome back, suits. How do you lose that much money . Defense Logistics Agency is a civilianrun agency but part of the pentagon. They have their own inspector general. Here is the thing about the pentagon. Afghanistan says hold my beer. 700 million would be a relief when you cop pair that to the inspector january in afghanistan and iraq. Kennedy didnt when find the department of defense miss appropriated 125 billion. You say misappropriate, they say lost. The pentagon does try. I had to account for he round of artillery. As a fire support officer i wasted a Powerball Jackpot worth of jet fuel and munitions. And i had to account for it. Reconstruction in iraq, the pentagon tries different not an excuse to say we provide you the freedom that you sleep under, dont ask us how we do it. Thats a bad excuse. I want that out of amtrak and the post office. The pentagon has to account for this. Its crazy. Kennedy rand paul pointed out last week on the outnumbered couch that the post office lose a billion a square and the key to fixing bureaucracy and waste isnt throwing more money at it. Is there a way of still loving this great country of ours and supporting the brave men and women brave enough to wear the uniform but streamline so thing operate for effectively. Hire ernst and young. In the private sector you can find this stuff. Hire ernst and young to audit the whole pentagon. The biggest waste of money i have been a part of, i worked as a private consider, and i got it up inside djibouti and we built an antipiracy Training Center. And the state Department Paid the company i worked for paid to build a Counter PiracyTraining Center in uganda which is land locked. Kennedy i hope they had a powerful catapult. Thank you for your wisdom. Coming up. The unified Korean Hockey Team took to the ice the first time yesterday and it showed. Well tell you how many shots they put on goal and how many shots kim jongun put on them. The topical storm is next. Its easy to think that all Money Managers are pretty much the same. But while some push High Commission investment products, Fisher Investments avoids them. Some advisers have hidden and layered fees. Fisher investments never does. And while some advisers are happy to earn commissions from you whether you do well or not, Fisher Investments fees are structured so we do better when you do better. Maybe thats why most of our clients come from other Money Managers. Fisher investments. Clearly better money management. Kennedy on this day in 2017, tom brady led a stunning comeback against the atlanta falcons. But the only comeback hes doing today is eating carbs. We begin at the site of the big game where the underdogs are still celebrating their huge upset. Of course, im talking about the puppy bowl which fan with a parrot playing piano. Team rough got out to an early lead. Their fans smashed store fronts, toppled light poles and burnt cars all over town. I know a lot of people are criticizing eagles fans and act like they have been there before, but in their defense, they havent. The eagles winning a super bowl is like Kim Kardashian winning a spelling bee or Hillary Clinton winning a president ial election. Whats one more car burning in philly at this point. Good for you. Fly eagles, fly. Topic number two. The super bowl wasnt the only human sporting event taking place yesterday. North korea and south korea formed a hockey team. They played against sweden it was attended by 3,000 people. While they have no problem finding a crowd, their offense was scarcer than the internet in north korea. The team lost 31 against sweden. Coaches sensed a need for more practice time. So following the game south koreans played a scrimmage against north korea. The final score was south korea 8, north korea didnt. A florida man was assaulted by his boyfriend after he played song by sting. If you think that wasnt weird enough. You should see who showed up when he called the police. No, he didnt get a visit his boyfriend played if you love someone set them free. He feared he was getting dumped. And he couldnt stand losing and went full king of pain and smashed his partner into a wall. He was arrested but he has since been arrested and placed under surveillance. Which means every move he makes and every step he takes and every bond he breaks they will be watching him. Itopic number 4. That gives something to write about for hate mail thursday. Doritos is developing a ladyfriendly chip more women who dont enjoy the loud crunch of traditional doritos. Its about time someone focused on the real issues affecting women in society. They are turned off by getting chip dust on their fingers. If they learned anything from the metoo movement, women are to be believed. So most of of the women at the marches look like they like junk food. They will come in smaller bags designed to fit in womens tiny purses. Are you saying a woman cant afford to buy her own bag of chips . Maybe. Topic number 5. A florida man was arrested. At his apartment complex for work out naked at the gym. Thank you, florida. His neighbors were absolutely stunned to learn someone was still work out this many weeks after new years. But the 57yearold, hes not a quitter, according to a leasing agent who saw him utilizing the stationary bicycle completely naked to include no socks or shoes. He was arrested for Disorderly Conduct and the cops say he had a suspicion package. I have got a million of them. If found guilty, he will be sent where all men go who like to walk around naked. The gym locker room. Coming up, you might have trouble remembering what happened after a wild night of drinking. But a new study says slow doses of booze can help you remember stuff later in life. Ill explain in the nightcap. When you have a cold, stuff happens. [ dog groans ] [ coughs and sneezes ] nothing relieves more symptoms than alka seltzer plus maximum strength liquid gels. Kennedy many of you may still be hurting after overdoing your celebration at the patriots loss. There is no doubt too much booze hurts more than your feeling. But there is good news from the liquor consumption department. Brain research from the university of rochester found slow levels flush out the brain and may protect it from harmful proteens associated with alzheimers and dementia. When they gave rodents the hive lintd of two drinks a day. If you bites up too much, you montgomery make the problem worse that causes swelling. But its good to know a glass of pinot and a fireball chairs are effective in keeping your your n nice. Thanks for watching the show tonight. You can follow me on twitter and instagram. Email kennedyfbn foxbusiness. Com. Tomorrow night on the show, Lieutenant Colonel ralph peters, michael malice and dennis admiral. Its the revolver that won the west. This is a serious piece of weaponry. And she inherited a slew. Buying the guns turned him into a cowboy. It was an obsession. You in there . Lawmen and outlaws alike reach for the hotshot of colt pistols. I was always told that it was a milliondollar gun. Talk about bang for the buck. Ive been looking for you. Or will it all backfire . [ gunshot ] [ door creaks ] [ wind howls ] [ thunder rumbles ] [ bird caws ] im jamie colby, in garden grove, california,