A desperate rush to the safety that americas Treasury Bonds offer. How about oil . Wild swings there been no reversal of the big tumble. There is a worldwide glut because america is producing a record amount. This turmoil began from the get go and the trigger seemed to be that second ebola case which was confirmed in dallas. There were traders this morning worried about paralysis in america. People afraid to travel. Charlie gasparino and the wall street journals mary kissel are both here. I did talk to a couple traders this morning who said watch out, the ebola scare, paralysis, people afraid to travel. Is it the black swan event . I dont know if this is the exact black swan. Black swans come out of nowhere. One good thing about varney and company as we told people this was going to be a tradeable had line and it would be much deeper decline. I will say this. The market is trading whether we like it or not. Some of this is irrational fears. A second possible case, bad stuff but it is trading at because traders say if this thing spreads Consumer Confidence goes down. People dont travel, they stay home, dont go to movies theaters and look at it in terms of what impact it has on the economy. Stuart central bankers in general, what are they going to do now . Have a shot all the arrows in their quiver . What are they going to do . Yes they have. There are bigger trends here that are behind these shortterm volatile swings we are seeing in the market over the last couple weeks. I think the biggest one is there is no serious progrowth reform in the world. Traders are starting to understand that. Look at europe. Government spending still there. Almost 50 of gdp versus 37 and then you have got the dollar, a flight to safety here driving down oil prices because oil is priced in dollars. That is another change in the market. I would not discount q e 4. The shortterm for the fourth time we start to mix delineate. It will be useless for the economy. It wont be useless for the market. We should point out one other thing. Arbitrage, traders like you were talking to are getting killed on the shrine deal because of the fall through and theyre selling and going into bonds so theres a technical factors that decoupled from the economy. Stuart lets wrap it up. I think ebola was the trigger first thing this morning, then you look at world wide growth which is not looking real good. The dollar straight up because hot money comes here, flows into Treasury Bonds, down go Interest Rates, down go Interest Rates, the bottom line is there is a future feeling of anxiety. I thought there was near panic in this marketplace this one when it dropped to 369. Lets look at the stock groups that are in the news these days, starting with airlines. What is happening there . They were hit with the ebola affair. Now they are next. Theres not Much Movement in Airline Stocks this morning. Intel, jpmorgan, disney, microsoft, these are the big names and they are down in percentage terms. You know you have a big move when we say microsoft is down 1. 5 . How about oil stocks . The price of crude at 81 a barrel, down again. Exxon, chevron, conoco phillips, all of them down big time again. Dont forget the tech stand outs, amazon, ebay, netflix, google, not a winner in the whole lot. A rollercoaster ride, certainly a rollercoaster ride for ebola related stocks. Tell us about it. Nicole we are looking at everything related to ebola including hazmat suits, i wear, masks, the goggles that protect you from all of this. Out of from makes goggles and masks up 20 . Lakeland make the hazmat suits, ordered 160,000 of those. That is up 13 . Newlink genetics is working on a vaccine and has patients testing that now, that is up 11 and sarepta as a drug to treat ebola. We always a these are very volatile, small caps, in some cases 100 million so be careful. Youre the new lows, boeing and chevron hit new lows, g e in the green. Stuart look at mcdonalds is down, pfizer down, virtually every big names that i have seen across the board is down today. Nicole we had 490 names lower but those are the lows. Stuart that is the stock market. A huge action there. How about oil . We are down a middle bit. 81. 80. At one stage we were barely holding 80 a barrel. Come on in, tres knippa who trades various commodities out of chicago. Item number one, do you think oil is going to drop below 80 a barrel . For me, our president better be nervous. Lets look at the facts. In the United States since january of 2008 we have created 700,000 jobs, yet 1 million jobs have been created in texas because it has been built around a crude oil and natural gas and fracking so the rest of the United States has lost 300,000 jobs. Where is all this growth the Federal Reserve is supposedly spurring on here . If the dollar continues to firm why what our dollar firmed . Obviously you mentioned it a little bit ago but the world is awash in all the Central Bank Money and so as you get this, quote, flight to quality on the ideas janet yellen might be raising rates next year the dollar firms up. That pressures oil and here we go. You mentioned it in your previous segment of the have to take credit or Charlie Gasparino has to take credit that notice the tone of the conversation. Two weeks ago we were talking about janet yellen was going to raise rates, now were talking about q e 4 and for he is dead on the money. With all you have as a hammer everything looks like a nail, more q e from janet yellen. Stuart thank you very much. You are seeing this volatility in large part because governments tried to d risk risktaking, tried to stimulate the economy, Interest Rates at historic lows, and said 2 traders we dont know what theyre going to do next, you need risktaking in the economy to have sustainable, normal growth and continued to see this volatility. Some of the deals that blew up. They fly to quality. It is a huge deal and why did deals like that blow up . Because of u it speaks to a bigger issue. Stuart and certainty, lack of leadership from the top. Easing is all we got. My point is theres risk in this economy because government is trying to take risks out by propping everybody up, dropping the market up, dropping the economy up. They got to pull up and we need less government, lower taxes, more certainty. Bernard when you get a big round of applause on sat one. I want to get to ebola. The trigger that got things going to the downside earlier this morning. A second case in dallas, talk that ebola could go airborne. Listen to is this. Published with our collaborators demonstrates ebola has the inherent capacity to enter lung tissue, a human lung tissue from the air wayside just as influenza does. Of the one that is dr. David sanders on the Fox News Channel earlier this morning. Come in kevin campbell, dr. Kevin campbell. You heard what he had to say. He is implying that if somebody with ebola sneezes and you breeze in the ecs you can get ebola. That is a form of airborne that acts to the anxiety. Would you make of what the doctor just said . Adds to the anxiety but i want to emphasize as of now it is not airborne. What the doctor from perdue is saying is true. He has seen the ability of this virus to mutate and it can you take quickly and ultimately as this continues to breed in west africa and now in america and we have more cases the chances of mutation are greater and i think this is a possibility down the line. Stuart that is why the public is spooked because there is a possibility of this happening. There is no certainty that it can be contained. That is the problem, isnt it . It absolutely is. Theres a paper already published in science that shows within the first 20 days of the outbreak there were 400 different mutations in 70 patients with ebola. Imagines those numbers now and when we have 1 million cases, how much they could be. Stuart are we going to get a vaccine . Of vaccine is coming, it has been shown 100 effective in primates. Is tested in humans today. And canada has said they will provide a thousand doses to test further in west africa which i applaud. Stuart that is december, of course, many weeks away. Next one, should we impose a travel ban . I have been saying as have you and many others we should have imposed a travel ban months ago. We need to quarantine everyone who flies out of west africa prior to leaving. We need to steal our southern border. If not we are going to see more and more cases and i believe the director of the cdc should step down because he has bungled this thing time and time again. Stuart thanks very much for appearing with us today. We appreciate it. You never know which way this market is going to go. Wild swings up and down. We are down 175. Please remember we are down 360 earlier. Look at that. When was the last time you saw the ten year treasury yields go down 12 basis points. I dont think i have ever seen action like that. It was 185. I have seen action in the 2008 financial crisis and that was a massive flight to quality. What we have right now when you talk about the fed and uncertainty the fed created since the in the market for many years by printing money. Here is the problem. When the fed is at odds, janet yellen, fisher, the market will trade off of these headlines every day. Stuart to oil, we are watching for a seven handle the few can believe it, we are 81. 66, we got close to 80 even earlier. We will be watching that. Lets see. Much more on ebola and how it is affecting your money right now. For example, who can sue . The affected nurse, who can she sue . Anybody else . The judge is here on that in just one moment. The father of american fracking, a true energy pioneer, harold ham, is here to talk about the drop in oil prices which he is partly responsible for. He is on the show today. Are the largest targets in the world, for every hacker, crook and nuisance in the world. But systems policed by hps Cyber Security team are constantly monitored for threats. Outside and in. Thats why hp reports and helps neutralize more intrusions than anyone. In the world. If Hp Security Solutions can help keep the Worlds Largest organizations safe, they can keep yours safe, too. Make it matter. Suddenly youre a mouthbreather. Well, put on a breathe right strip and instantly open your nose up to 38 more than cold medicines alone. So you can breathe and sleep. Shut your mouth and sleep right. Breathe right stuart where are we now . This market is all over the place. We are down 180 points. That is about half the loss of about an hour ago. The price of gold not doing much. It is up 7 bucks. The real action is in stocks and the will and Interest Rates. Look at oil, 81. 51. No rebound from yesterdays huge tumble. But that time warner, a lot of bigname stocks, is up slightly. 3 . It is a. Hbo is launching its own standalone streaming service. Look at netflix down big on the news from hbo, netflix is down 15 bucks. You cant get away from ebola. I shouldnt say that but you cant get away from the ebola story. Thomas duncans family may sue the dallas hospital where he was treated. 26y nurse nina m. Infected when treating duncan, does she have a right to sue the hospital, her employer . Judge Andrew Napolitano will sort out the lawsuits for us. Can she sue the hospital . Judge napolitano no. You cannot sue your employer for a workrelated injury less the employer intentionally harmed you because the legislature has coopted that by workers comp. Stuart she says i didnt get proper training with hazmat since then you didnt train me right and now i have the ball. Judge napolitano the keys will be dismissed. In workers comp she will be compensated theoretically, i dont approve of this but it is the law, she will be compensated for any permanent injury and loss of work unless she can show that her employer intentionally harmed her probably inconceivable here. Could duncan sues the hospital . Yes. Obviously duncans the state. This hospital acknowledged it was unprepared to treat ebola. It should have not turned him away but sent into a place where they were prepared to treat him so they may well have a case that there damages are limited to their Economic Loss, not their pain and suffering their father, brother or son is deceased, their Economic Loss is a consequence of his early death. Stuart who else can sue . Any nick as a general rule with respect to diseases the cause of action comes about when a person is reckless in exposing themselves to someone else for intentionally exposes themselves to someone else. For example there are cases of people who have aids being arrested intentionally biting the police that arrest them in an effort to transmit the aids to the cops. Obviously that is an intentional behavior that could be the basis stuart dont you think a good lawyer could get ahold of the jury and say look at my client, suffering from ebola because of this group of people didnt train her right, the equipment wasnt right. Is their fault, hagar. A lawyer could do that. Judge napolitano if the judge allowed a lawyer to do that the purpose of workers comp, i dont defend this, theres a system in all 50 states, the purpose of workers comp is to remove from juries the consequences of workplace injury. Whether i slip and fall in a wire in the studio or whether i am a nurse or doctor and hospital and i get sick because i work there i cannot sue the employer unless the employer has set out to track or harm me. Stuart i am sitting on a plane, someone gets sick, we have to stay on the plane, in come the guys with hazmat suits, i say i am terrified by this and need therapy for the rest of my life, pay me. Judge napolitano you cant sue anybody for your fears. Years are not compensatory. Fears were stuart when if i suffered mental damage because of my extreme fear . Judge napolitano very difficult case. Most judges would throw it out because the courts of virtually all states said you cannot sue for fear alone. Stuart how about the airline . Judge napolitano kantor fitzgeralds to the airline after losing a lot of employees during 9 11. As 7 million settlement. The airline here is the problem with the airline. In my world, in my free market world in my free market world after all these years the airlines which dont and operate their own property would decide who gets on but that has been coopted by the government that the government tells them who to put on or keep off. They should decide that. Stuart breaking news from the cdc, the second Healthcare Worker who was tested positive for ebola flew on a plane on october 13th, two days ago. That is the day before she started showing symptoms. This cdcs reaching out to the 132 passengers who flew on that flight, Frontier Airlines flight 1143 from cleveland to dallasfort worth october 13th. Judge napolitano there is no way that airline could be liable for putting her on their if she had zero symptoms. There is no way she is not typhoid mary walking through the streets with typhoid spitting and people and biting them and try to infect others. She is a normal passenger who has no idea what is going to happen to her in two days, she cant be held liable. If the one that stories for the general anxiety level. Cant you see the cdc for not being prepared to . Judge napolitano the government has enacted laws that make it immune from mitigation. A private hospital can do things and be sued that a Government Hospital could get away with. Stuart the dow is going down 204 points. Judge napolitano in two days we will be talking about the gdp impact of this disease. When you contact 135 people and you may be on a plane everybody hears about it, they dont want to fly or go to movies theaters. This is a fallacy and paralysis. In the dallasfort Worth Airport on thursday during your show. Because i am passing through on my way to speaking at a Major University in texas. I will call you from that airport into the studio and let you know if it is alive and vibrant or a ghost town. I heard newark was dead. Nobody was there. Stuart were talking fear of flying, fear of being exposed even though that may be an irrational fear, doesnt matter. It is the fear there of which will cut down on travel and raise the a anxiety level. The dow is down 0. 2 . The sox are selling off all day. We are down 210. We have been down 369. Market bear harry dent has been saying the big correction is coming. Is this the selloff the was talking about . Is you with us now . We will go to a break, harry will be with us in a moment. Go ahead and put your bag right here. Have a nice flight traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the most ontime flights are nothing if we cant get your things there too. Its no wonder more People Choose delta than any other airline. Sometimes they just drop in. Always obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. You never jim jam shabriver flab dry ris. O is, bliss pounds hazy dray . Drywall shboop leaver murray. Hey, big bog panorama corn salabaty . Dude, squibble bits. Mareyayzee. Mormal snap jebby rolban jebby deetle flosh. [laughter] eh. Nows the time to get in the loop. Just look for our fall tv picks with xfinity on demand. Huh. Quickly find the seasons hottest shows, huh. Quickly find the seasons hottest shows, with a handpicked collection all in one place. Only from xfinity. Stuart i have to go back to that breaking news that was reported moments ago. The second Healthcare Worker that tested positive for ebola flew on a plane monday night. The cdc is now reaching out to the 132 passengers that were also on the flight. The fear, people will not fly. It started tanking again. Stuart we are down to 26. This is the ultimate payer. Harry is predicting a huge the client for the stock market. He joins us now on the phone. Is this the start of the big selloff that you forecasted on this program several times . I think about we are getting close. We went just above that. You do not really know it is the top until you break some critical levels. We have been looking for 1850, give or take, on the s p. That is about where we are sitting now. Penetrated the technical level. Yes, we are embarked on the big downturn. We are sharing a clever breakup of this level. This bull market is over. Stuart the other part of this forecast is after we had 172, 173, we come down and then we really come down over the next two years. Getting down to six or 7000 on the dow. We have a very ominous and clear pattern. We had 6440 on the last crash. The next protection is up 5800. I see a bigger crash and last time. You are back in that forecast. All of these airlines started to sell off just as it was announced that the second ebola patient had phone on an airplane all of the airlines down in percentage terms. The cdc told us that it may come here. This is supposed to be one of the best guys in public health. He focused on e cigarettes and trans fat. What is the purpose of the cdc . It is not to contain a virus like this. This is the market saying we do not have confidence in government. People Walking Around in hazmat suits and saying that you cannot get this thing, it is very difficult, it is very hard, it makes no sense. Before the market hit 6000, you will see a massive amount of money printing. President obama has absolutely nothing to brag about in two years except from taking the market from 6000 to 17,000. The irony is he rewards the 1 . I am with you on that. Stuart what i am looking at is the buyback. Where is the buying coming from . This software, that software, i am buying that thing. It will come at some point. That is a shortterm move. The fed will not wait for it to hit. You will see the fed come in and start printing that money again. You know it is bad we are looking at stock indicators in percentage returns. We will be back in just a moment. This is a big day. So i can reach ally bank 24 7, but there are no branches . 24 7 its just im a little reluctant to try new things. Whats wrong with trying new things . Feel that in your muscles . Yeah. I do. Try a new way to bank, where no branches equals great rates. Hard it can be. How. To breathe with copd . It can feel like this. Copd includes chronic bronchitis and emphysema. Spiriva is a oncedaily inhaled. Copd maintenance treatment. That helps open my airways for a full 24 hours. You know, spiriva helps me breathe easier. Spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. Tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. These may worsen with spiriva. Discuss all medicines you take, even eye drops. Stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,. You can get hives, vision changes or eye pain, or problems passing urine. Other side effects include dry mouth and constipation. Nothing can reverse copd. Spiriva helps me breathe better. Sfx blowing sound. Does breathing with copd. Weigh you down . Dont wait ask your doctor about spiriva handihaler. So ally bank really has no hidden fethats right. Accounts . Its just that im worried about you know hidden things. Ok, whys that . No hidden fees, from the bank where no branches equals great rates. Stuart i will report the breaking news that we broke moments ago. The cdc says that that second Healthcare Worker that tested positive for ebola did fly on a plane monday night. The day before she had symptoms. They are trying to reach all of the 132 passengers that were also on that fly. This afternoon, the cdc will update us. About 90 minutes from now. Look at the Airline Stocks. Sold off big time. Now, look at the big board. We were down about 180 points on the dow. Now we are down to 50. How about the price of oil. The big tumble was yesterday. Down about 0. 50 now. As for gas prices, the decline continues. Average for the nation is 317. There are 10 states and all with energy low 3. Joining us now. You know who this man is . I will tell you. Harold hamm. The father of horizontal drilling. This man is responsible for the price decline today. There are a arent a whole lot of people that have been very generous. You have the new technology to go down and then go across and get more oil out of all of these areas that we thought was exhausted. I am short on time. If we were allowed to go at it and drill everywhere in america, where ever we think weve got oil, how much oil could reproduce . We are seeing production increase. There is a lot of it. Stuart 10 million . 15 million paras of oil a day . We are at 10. We could be Energy Efficient by 2020. Stuart way before then, shortly, if we had went at it. It would take some time to do it. Stuart why wont they do it . You show them how. You show showed them what they can get. Why wont they do it . They certainly shook up. All of this has been done on state land. You are a jetliner pioneer. There must have been a time where you are pounding the table to get your ideas across. Now, you are a diplomat. Only in america. This Energy Renaissance, it sounds like a boom. Should they have the Production Capacity. I do not believe that they do. If the sound is not in the drivers seat, is america . You have to look internationally, globally. We tend to look at it just here in america. We see doug lines happening. You mentioned alaska, argentina, mexico. Opec producing 30 Million Barrels a day. We have one country over there that has set the price. They have all of this Production Capacity. He said, they cannot produce 25 Million Barrels a day. Only maybe half of that. They have not even gone to half of that. They are saying that prices could go back to 70. Stuart if you go back to 70 barrels, it would not be economic. Some of them would not. Some are involved that would. Some wood and some would not be. Stuart what a pleasure to have you on today. We all need to stay calm. Stuart thank you very much, indeed. Check the big board. I will give you more on this big selloff. We have been down 369. 238 down as of now. Back in a moment. When folks think about what they get from alaska, they think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. Nicole i have your fox business brief. A very busy market day. The Dow Jones Industrial average is down. Down 370 points earlier this morning. The s p down one and a half percent. The nasdaq at 4175. The vix, the fear index at the highest level since we have seen since december 2011. Here is a look at some of the dow lagers. Walt disney, jpmorgan and microsoft are among some of the other lagers. What is going on with that . More Varney Company coming up. You owned your car for four years. You named it brad. You loved brad. And then you totaled him. You two had been through everything together. Two boyfriends. Three jobs. Youre like nothing can replace brad then Liberty Mutual calls. And you break into your happy dance. If you sign up for better car replacement, well pay for a car thats a model year newer with 1your old one. See Car Insurance in a whole new light. Liberty mutual insurance. Stuart a big day. 2. 03 . It is a huge decline. A massive increase in the price. We are holding on watching your money very closely today. Earlier this morning, you told us all to fasten your seatbelts. Explain what you think is going to happen. The Technical Analysis says that this market goes a lot lower. We broke 1880. We were going to drop real quickly. There is no reason, with this market at this level for anyone to say it is a normal correction. It is not. Nothing is normal right now. Stuart selling some of their Stock Holdings right now. There is no real good reason. The game of probability and the probability is the market will go higher. Valuations will get a little bit better. Valuations on stocks are based on the 10 year treasury. It will actually make stocks not as expensive. Stuart stay right there, ed. I want to bring in Charlie Gasparino. That was a flatout statement. I agree with him. They do have a transfer on the market. We got them to agree that it is a tradable headline. I agree with him. The market could go down further. There is one thing that president obama has to be right about. Take the economy. There will be more money printing. It is a different story. Stuart you are saying we will print more money here in america. The market is off to 73 now. What do you think happens . If charlie is right and reprint more money, what happens. It is the Airline Stocks right now. Airline stocks do well. With this new bit of information, we are seeing that in the airline industry. We have a world slowdown. Europe is crumbling. Stuart let me ask you a question about dallas. How about an Airline Terminal . How about where the patients have been quarantined. What is the general level of activity in dallas . Nobody cares about my health. They just want to stay away from me. Everybody has the sniffles in dallas. It is slowing down. People are talking about it. Stuart that means that it is a factor in this market. This may be a sense of paralysis and certainly high anxiety. People not going to soccer parties is not pushing the stock market down yet. They look at the immediate news. Investors invest in the longterm. They are looking at the fed. They are looking at growth. I need a little more time. We do not have stagflation. Yes, the strength of the dollar, the weakness of the global economy. All of those are factors. I got it all. Ebola is the trigger. This drop occurred right after it was announced after that second person had flown on a plane on monday night. I am sorry i am out of time. Just as the market falls more. We have it all covered for you. More varney next. Ns are feeling the love, too. By offering things like onthespot data upgrades an idea that reduced overcharge complaints by 98 . No matter how fast your Business Needs to adapt, if hp Big Data Solutions can keep wireless customers smiling, imagine what they can do for yours. Make it matter. Imagine what they can do for yours. My motheits delicious. Toffee in the world. So now weve turned her toffee into a business. My goal was to take an idea and make it happen. Im janet long and i formed my Toffee Company through legalzoom. I never really thought i would make money doing what i love. 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I have a lifetime of experience. So i know how important that is. Stuart down 250 points. That is one and a half percent. Here is the other move. Down 2. 0 earlier. Incredibly, it touched 1. 85 . The cdc talks one hour from now. I have to say, i have to say goodbye to you. The producer just said, hold on. We have two minutes. You want to get rid of us, stuart . Volatility will be a fact of life in the coming weeks. I do not make predictions. You have to ask, what are the fundamentals . What is it based on . Do not do anything now. Watch us. We will be watching the fed and everything else. This is a really wild, insane, if i was at a bar, i would use other, you know what, cluster. This could be really bad. You never know what the fed is going to do. Stuart that is interesting. We appreciate you being here. The cdc will talk about one hour from now. In two minutes, much more on the very big day for your money. The market is down 243. A huge flight to safety. Oil close to breaking below 80 a barrel. A big second hour and it is two minutes away. Banking. Loyalty. Analytics. Synchrony financial. Engage with us. Ghave a nice flight r bag right here. Traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the most ontime flights are nothing if we cant get your things there too. Its no wonder more People Choose delta than any other airline. And cialis for daily use helps you be Ready Anytime the moment is right. Cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid long term injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a free 30tablet trial. Stuart ebola news was the trigger that set off this decline. The cdc reported that the second dallas Healthcare Worker that has ebola flew on and Airline Flight monday night. Frontier airlines have taken that plane out of service. They are trying to contact the 132 people on that flight. Concerns about flying. Update on that. Fox business will carry the conference live. We are down 247 points. That is about a one and a half percent. You are looking at it right now. Money is seeking a safe haven. Going to american treasury securities. It was 1. 85 earlier today. Earlier, it was almost dropping below 80. Moments from now, we will take you to the centers for disease control. Second Healthcare Worker did test positive. First of all, Charles Payne. We have this whopping great big market selloff. A lot of people will think that this is a buying opportunity. I think that the price is right. I would not force the issue. We were down 370 on the dow. The last hour of trading has been the key problem for these markets. Stuart they will jump in big time. Right. Some sort of a bid in the afternoon. Stuart i am sorry, you think that there could be a balance back late in the day. I am saying that is the most important time in the markets right now. The entire selloff has been between three and 4 00 oclock. I am watching things that have been very intriguing. They are all extraordinarily oversold. Everything is associated with real estate. Mortgage rates are going to come down. They had been down. Maybe this time they will say i missed it before, maybe i will act. It is just interesting the little spots that i am starting to see. These are not bob, that retail investors. These are smart people trying to pick the spots that they think have great reward. Stuart i want to get more on ebola. Tom sullivan is with us. He works with us here on the fox businessetwork. There seems to be a growing fear of paralysis. You may be in contact with somebody who has this dreaded disease. Is it time for a travel ban . Forget the screening from west africa. How about screening from dallas. I do not know how they will stop this other than people themselves. The airlines have to come up with some sort of marketing plan. They will see fewer people going. It ties in with oil prices. The gasoline prices are coming down. If i had to drive three or 400 miles, i will rather than take an airplane. Stuart you flat out with a travel ban from south africa now. Absolutely. Nobody from west africa can come in here for the time. You want. You have to feel that somebody is being pro act if. I would suggest that the chances of a travel ban started by president obama are slim. I do not think that he wants to keep poor people out from a very poor continent. I think president obama looks at it differently, but i agree. All of this is a lack of confidence. The agency we held, by far, is cdc. If they lose it, think about the lack of confidence. Ebola is just a component of it. It is a big component. Do these people have what they need to stop it . The cdc was not here. The cdc did not do enough. You are a Hospital Administrator and you are barely making it anyway. We will get cdc and more federal government and our Hospital Systems because of this. I hope that there is some smart politician that i can say if i give you this money, can you do a better job . Listen to what the nurses are saying. Are you losing confidence or are you gaining confidence . Losing. Charles right. Maybe protocol was not right. Maybe her neck was exposed. Maybe this guy was standing around for a couple hours in the hospital before somebody took him seriously. There is a crisis of policy and government. We do not want more government. If i gave you 24 billion they should start with a 1800 number. Call them. Rather than going to the Doctors Office or urging care center. Had an 800 number and they will dispatch somebody to you. They will take you to a regional center. I have to imagine that the stocks are up today. 23 to the upside. You have to remember that these are very small companies. They are up 23 today. We have to keep that in mind. That is the vaccine they are working on right now. We will be watching a lot of those biotechs as well. We know that the other ebola patient was flying around as well. Back to you. Stuart Frontier Airlines flight 1143. Cleveland to dallas fort worth. Down go those Airline Stocks. Thank you, nicole. There is nothing you can do about it. That plane was cleaned. Stuart what we are dealing with here is a general sense of rising anxiety. Use the markets go up and down very, very sharply. I want to bring in Mark Sebastian from ohio. I want to talk about oil. Oil really had a lot of resistance around that 75 price. You know, the chore for low oil prices is low oil prices. Below 80, it starts to hit a lot of resistance. I want to turn to the u. S. Treasury market. Money poured into the 10 year period have you ever seen a flight to safety, such an extreme move, ever before . That was an absolutely crazy move. For a second there, we had a panic. A complete accident. Money pouring into treasuries. The vix exploded with the treasuries this morning. Stuart the vix is a measure of volatility. Really, the vix measures the anxiety level. Do you agree with that . How much it costs to secure a portfolio. That has been going up and up and up. Daily movement of one and a half percent. Think about that. Daily movement of one and a half percent. There are some good reasons and some bad. There is some serious peers out of europe. Not going to be a longterm deal. I think Charlie Gasparino is right. I think that the fed will change its tune. Stuart it is a theme on the program. More money printing by the Federal Reserve. Several other guests the bad news is supposed to be good news for the market. Stuart look at it now. Stuart this is just in. It is from the white house. Coordinating the government response to ebola. No word on the timing. It will take place sometime this afternoon. Charles what he said last week. It will be interesting. Here is the problem. There is no economic engine to drive the market. Any additional competition would be a white flag by the fed. Treasury yields. Historical lows. How about mortgages. It could be down to. So i can reach ally bank 24 7, but there are no branches . 24 7 its just im a little reluctant to try new things. Whats wrong with trying new things . Feel that in your muscles . Yeah. I do. Try a new way to bank, where no branches equals great rates. Health can change in a minute. So cvs health is changing healthcare. Making it more accessible and affordable, with over 900 locations for walkin medical care. And more on the way. Minuteclinic. Another innovation from cvs health. Because health is everything. So ally bank really has no hidden fethats right. Accounts . Its just that im worried about you know hidden things. Ok, whys that . No hidden fees, from the bank where no branches equals great rates. Stuart it is a very fast moving day. The dow industrials are now down 300 points. That is almost 2 . Second item. The yield on the twoyear treasury is now 2 . It is back at 1. 99 . That is a huge drop in the yield. A huge increase in the price. Usually when you get Interest Rates falling like that, the dow goes up. A couple of housing related stocks for you. All of them are up. Not much. On a very down day. We have our real estate expert with us. Showed up just in time to deal with this. We have 1. 99 . Does that mean Mortgage Rates, way down . I cannot imagine them coming down much lower than they are. I think it will be very difficult to get somewhere lower. I think it will be tough to see a lower Interest Rate environment. The 10 year treasury is a much lower Interest Rate environment. I am saying will Mortgage Rates also, way down from where they are . I think it will be tough. You have a very low Interest Rate environment. That is why they are jumping and flooding into the bond market. I thought that the 10 year treasury was the basis for Mortgage Rates. You that that there would be a shot in the arm for real estate. It will allow real people. People that have not been buying homes to actually step their foot into the housing market. I think it will be a little bit of a safe haven. Correct. Stuart do you think that mortgages will be easier to come by . I do not know if that is really what you are going to see. I do not think people understand. They gave president obama a blank check. Here is the thing called ability to repay. It has dramatically impacted approvals on loans. Even if you have a fight goalscorer over 680, it has impact did it. They have to be able to say that they know strongly that you have the ability to repay before they can sell that loan to fannie mae or freddie mac. The requirements are still tough. I think that there is pent up demand. Pent up demand is nice until somebody can get an approved for a loan. We still have a major student debt crisis to deal with. I just do not see how young people will be able to step in. That is what has been missing from the housing market. Stuart we have now dropped below 16,000. We are looking at key levels. We have dropped the low it to 15992. 16 k on the dow. 2 on the 10 year yield. Fears over ebola. That is what triggered the whole thing. The big selloff this morning. That is not the longterm news. It is the very short term news. We have the guy who is cleaning the Apartment Building of the latest ebola patient. How much does that cost . Stuart several items to update. The cdc announcing that the News Conference next hour will be by phone. No cameras. There will be a test. Obama has canceled his plans. He was going to go to new jersey today. Instead, he is going to d. C. Tom, i believe he canceled a fundraiser in new jersey. Finally. Finally, finally, finally. This is what people have been begging for. It shows some leadership. I am hoping for a travel ban. The cdc getting much more involved. Stuart what you want is the president to take charge, to get out in front of this. Take action. Negative stories that have been followed for quite some time. That is all people are asking for. Lets get some leadership. He still goes to fundraisers. Stuart i am not being facetious, charles. Charles the 200 round was really symbolic. The white house trembling on bad policy and bad decision. When they make these decisions, they keep trying to tell us that they are working. They keep spending. They keep selling. We have already made a few miscues here. We will go back. We were wrong about this. Lets change course. Stuart i cannot remember changing course significantly. Charles the president evolved on gay marriage and that was it. This is a stock market selloff. We are down almost 2 today. We are down 1200 points in a couple of weeks. That is a big selloff, indeed. We like to deal with the cost of ebola. The more the cost of each case those up, the more likely it is that we will have a travel ban. Also, just cleaned the exterior of nina phams apartment. All right, brad. We are interested in costs. 130,000 out the door to clean mr. Duncans apartment. How much did it cost to clean the exterior . We were quoting a job. Stuart that still seems to me a very large amount of money. We used our chemical to kill all the viruses that could have been there. They are investments over time to be able to do things like this. It is not an airborne virus. It is not. We are told. Why do you have to clean the exteriors . You are right. It is not airborne. That is what we are told. We do know that it can live on Hard Services for a while. We just made sure we covered all handrails, door knobs, piping, anything that she could have touched. How about her car . They put a chemical on it tonight that she used her car. We went back and did the outside again. We came in at that point and completely decontaminated the inside of the car. You are talking about mobilizing. Two different locations do that. Stuart do you have a problem getting people to work on this kind of a cleanup job . I do not. People calling and wanting help. It is a high profile job. There are a lot of guys wanting to do it. Stuart you have to be paying these guys triple, quadruple time. We take care of our guys better than most. We are definitely taking care of them on this job. We are glad to have them. We know the kind of risks they are taking. Companies sometimes not wanting us to come on because of what we are doing to do our normal routine work. We are doing everything we can to take care of our people and paying them for what they have to go through. Stuart brad, thank you very much for joining us. Appreciate it. Something about the employment market. If you havpeople lined up to go straight ebola, for heavens sake and he has people lined up down the street, there are a lot of people that will do anything. They have to assume that they will get paid pretty well. Stuart can you imagine 20,000 to clean the exterior . We have more cases coming in. More and more people diagnosed from fullblown ebola. To find. We will start to get some nonmedical people. All people started to contract it. Did you talk about money. There is somebody on that frontier flight. Somebody that was in the ballot for worth. Obviously very speculative. Going in the direction of paralysis. They stopped it on the tarmac. Then, later on, they came and took out a family. They were wearing face here. Everyone sort of wondering what is going on. Ebola, ebola, ebola. The second Healthcare Worker flu a domestic flight from cleveland to dallas two days ago. Doctor manning on a travel ban on whether we need more screenings at our airports. Opportunities arent always obvious. Sometimes they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Were back to300, big tumble yesterday holding its own barely 81, barrel. Look at the ten year treasury. We have it at 2 right there. It was 1. 99. You dont see a yield as low as that very often. Airline stocks started to selloff last hour after the news of the latest ebola patient tt domestic flights cleveland dallasfort worth. Airline stocks down 5 . You feel pretty strongly about a travel ban. Define traveled then. No one has been in west africa for the last two three weeks gets on a plane to america . I am talking people taking vacations visiting family. This is not the time. You have an out of control epidemic in west average that and god knows where else in the region so there is no control their. The who said 10,000 people dying per week of a dont take control. The un spoke about the pending death rate this could happen. We see what happens with one patient, chaos. Cdc not prepared. Hospitals not prepared. Not the right protocols, or medical equipment. Two nurses infected. One of them diagnosed today. Stuart you are not confident that the government is handling this well but they are not out front of this problem . No. Stuart meetings this afternoon, press conference this afternoon, testimony in front of congress. Can they pull this out of there at . They could if they get their act together but they need specific measures. We need the cdc to be handson. I wrote first among anybody that the cdc director should resign. The track record of the cdc, with all the problems they had with anthrax and the laboratories and things missing here and there, now we have this outbreak in west africa. He went on the air and said to the people we got everything under control, we are going to fix this, have it in control. This was in august. West africa two three months we will have it under control. That was back in august. Here we are where we are in october and we have chaos. He said american hospitals were ready. He said we have the protocols and now we find he goes on National Television on the megyn kelly show and says we should have done better. Better is not an option. Bettors resign. Stuart we are covering the stock market because it is in rapid sharp decline, down 320 points. The trigger for todays selloff, this is my opinion, was the ebola news we got first thing this morning, second patient in dallas does have ebola. When that news broke, down went the market. Is the trigger. It may not be the underlying cause of the stock market selloff but it is the trigger. You were mentioning earlier, back in the day, you remember signs on boards this house is quarantined. I was a child and i was asking my mother why was the neighbors house, why they had a big red sign on the front door quarantine, what does that mean . I dont know what was wrong with these people, but that was in seattle, washington. Stuart of going back to those days . Quarantine has always been a tool that was utilized to prevent diseases from spreading in communities and it still is one of the tools we use. Take for example quarantine has to be mandated, organized and monitored, monitored been the key. The doctor from abc news broke protocol herself. We had a family of mr. Duncan who knowingly that they were eat expos 2 ebola almost broke protocol. Where was the cdc . To the judge ordered have a Police Person in front of the house, you cannot leave. Now we have this nurse. This nurse, the latest marist that got infected was part of the 70 people sec, you Health Care Workers are also at risk monitor yourselves, please stay put. Nobody monitor anything. Stuart what about there were 132 people on board the flight that this latest ebola victim from cleveland to dallasfort worth. And she showed symptoms next day but 132 people got to be contacted by the cdc. What we going to do with them . You have to contact them and see who is sitting next to the nurse and who is sitting in front of the nurse. Charles too much to ask them to be under some form of house arrest. You dont have to make it house arrest. If people get protocols and you execute them with Health Care Professionals and monitor their activities. Charles people on the flight with them. Will be notified and told to take your temperature or call your doctor but again you create chaos. Stuart as if things were not wild enough there is a Tornado Warning for washington d. C. Alexandria, va. Fairfax county, virginia. You are looking at a live shot at the white house. I could make that out as being the white house that it was raining pretty hard. If you squint there is the capitol building. It is really coming down. This afternoon president obama is going to hold a meeting with departmental heads about ebola. He has canceled a fundraiser in new jersey, he is staying d. C. Despite is that a tornado watch or warning . A warning to. A Tornado Warning. Let me go back to the doctor. One of the crazy things i have then is drove an ambulance when i was in college and i knew they defy adaptation that was experiencing a heart attack i had a choice to go to hospital in a or hospital be. I knew Hospital Area as emergency room was great for broken arms but hospital be was great for our tax. Not all hospitals are equipped to handle everything. Hospitals are not created equal. The cdc is a informality that we designate one hospital paris stays or focus on the four major hospitals that we know can deal with ebola. All of these should be done before. Charles we are not at the low of the day, were down 331. Ebola anxiety was the triggers it started this selloff early this morning. We will cover it all for you. More varney and company next. Go ahead and put your bag right here. Have a nice flight traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the most ontime flights are nothing if we cant get your things there too. Its no wonder more People Choose delta than any other airline. An Unprecedented Program arting busithat partners businesses with universities across the state. For better access to talent, cutting edge research, and state of the art facilities. And you pay no taxes for ten years. From biotech in brooklyn, to next gen energy in binghamton, to manufacturing in buffalo. Startupny has new businesses popping up across the state. See how startupny can help your business grow at startup. Ny. Gov the Dow Jones Industrial average is approaching session lows, a it is down 340 points, it slows point down 370 points so the selloff continues after three weeks of selling, two down arrows once again. Concerns about the global economy, ebola and kaiser. The dow is in the 15,000 range, the 15,000 range of 15,951, needs under pressure selling across the board, jpmorgan, bank of america reported earnings down 4 , 6 , chevron as oil pulled back and hit a new low. Delta with concerns about ebola. All the airlines have been hit pretty hard down 4 . Retailers have been under pressure. We got retail Sales Numbers in and they were worse than expected selling across the board and anntaylor is hot today, that is a winner. More varney and Company Coming up. Copd includes chronic bronchitis and emphysema. Spiriva is a oncedaily inhaled. Copd maintenance treatment. That helps open my airways for a full 24 hours. You know, spiriva helps me breathe easier. Spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. Tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. These may worsen with spiriva. Discuss all medicines you take, even eye drops. Stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,. You can get hives, vision changes or eye pain, or problems passing urine. Other side effects include dry mouth and constipation. Nothing can reverse copd. Spiriva helps me breathe better. Sfx blowing sound. Does breathing with copd. Weigh you down . Dont wait ask your doctor about spiriva handihaler. Stuart a nestle buying day, the dow is down 317 points putting in below 16,000. Here is the ten year treasury. Look at that yield, 2 . Who would have thought . Not too long ago that we would get 2 or less. Lets bring in shotgun money in miami. You of the money guy, the guy who invests money for other people. What you doing today . Selling . Weve a lot of stocks in the last few weeks and or short a lot of stocks. Have seen this coming. Today ebola is the subject but behind ebola and the larger picture of what is happening in europe the devastation of stocks in europe is a contingent of 3 here. This is the fundamental problem the domestic market is having, is looking at europe and see whatever they have done hasnt worked. Their sinking back into recession and we are moving along here with stocks and highs taking profits. Stuart you think is going down will. The dallas of 15,094 as we speak, down 330. You think down some more . Without a doubt down some more because sentiment has changed and is this wont turnaround at folks will feel good about this market and come back in. Theres not a lot of bottom fishing. Every day the market closes is being sold hard into the close. That is never investors saying i dont want to be in this game so at this point, that is not trying to beat the medved marks on the web trying not to be the on the way down and end the year lower than their benchmarks. Stuart thanks for joining us. Much appreciated. Big moves in Interest Rates, big moves in stocks, big news in the price of oil too, big tumble yesterday, we are back to 81 a barrel. Listen to oil pioneer, real hero of energy in america, harold ham, the father of horizontal drilling, he got the whole thing started. Join us last hour to discuss the Energy Renaissance. The Energy Renaissance is not going to be like a boom that comes on and is over in a short time. The question today i would like to broach here is should the saudis have Production Capacity is that they could dictate the price of oil in the world . I dont believe they do. Stuart this stay in that area . Were looking for relatively good news here. Maybe we found it because very low oil prices, i think colonel oliver north, are extremely bad news for russia, iran, venezuela, because i think low oil prices give us some leverage over our enemies and our rivals. This is a security story as much as anything else. We have an audio problem so oliver north cannot hear as regrettably, but Charles Payne did he hear me . I can. Stuart robust introduction to you. I am saying we have got leverage. Lower Oil Prices Mean big financial trouble for russia and iran in particular gives us leverage. Are you ok with that . Absolutely right. I am not an oil analyst or an economist but from a National Security perspective Lower Oil Prices primarily because of hydraulic fracturing is a boon for the United States in National Security, our economy and jobs. Even though the market is way down today and i watch this stuff meaning that a nick retire tomorrow, but i will start to buy. One thing we ought to be looking at is what this does to our adversaries. You and i know russia exports three things, one, hydrocarbon fuels, 2 weapons, and 3, people. Ability of russia to take advantage of hydraulic fracturing like we do here and in canada was minimized by geography, demography and infrastructure challenges they of got. They wont meet our place for drawing a bell, Ronald Reagan by the way in 1981 when he came to office, the price of oil was 36 and 1986. Oil is down less than 10 using that as a weapon. Stuart can i say colonel oliver north would consider a buying stock on this great big dip because the energy boom in america will do us a lot of good in the long run . Absolutely right. You can count on it. I am calling merrill lynch. Stuart colonel oliver north, 1231 eastern time, thanks very much indeed. Sorry about the short time. The cdc is holding the telephone News Conference at any moment. We are monitoring it. The head of the cdc will testify on capitol hill tomorrow and third item of what the government is doing here the president meets with his ebola team at 3 30 eastern this afternoon. Markets down big on ebola fiers and there is that Tornado Warning in d. C. We are covering it all for you. Thats right. Its just that im worried about you know hidden things. Ok, whys that . No hidden fees, from the bank where no branches equals great rates. When folks think about wthey think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. Health can change in a minute. So cvs health is changing healthcare. Making it more accessible and affordable, with over 900 locations for walkin medical care. And more on the way. Minuteclinic. Another innovation from cvs health. Because health is everything. So i can reach ally bank 24 7, but there are24 7branches . Its just im a little reluctant to try new things. Whats wrong with trying new things . Feel that in your muscles . Yeah. I do. Try a new way to bank, where no branches equals great rates. Stuart we are close to the lows of the day. The actual low was369. We are now349. The ten year treasury yields, look at it now, 1. 89 , down goes the yield, up goes the price. I got to pose this question, Cleveland Airport, what are we going to do with it . The ebola patient just confirmed left Cleveland Airport monday night. She flew on a Frontier Airline to frontier dallasfort worth. That is the question, where did she go, did she go to starbucks shop . Where was she and you follow her path around and clean every place she has been. Stuart we will do this to every person who confirmed ebola case, what did amy, what did they touch . Charles they are too worried about panic, and maybe it has gone, quote, airborne. Stuart it would add to the feeling of paralysis, people will stop going around. The second patient you just heard is clinically stable according to cdc, she is sick but clinically stable. That from the cdc. That phone conversation has begun. We are monitoring it. Back in a moment. Jewelers to Sporting Good stores, we provide Financing Solutions for all sorts of businesses. Banking. Loyalty. Analytics. Synchrony financial. The cdc direct dirt tom friedman is conduct doing a interview via telephone right now. She is ill, clinically ill, but in stable condition. She will be transferred to atlanta from where she is now in dallas. Big deal. Fifty other Healthcare Workers are being monitored. We are on the cdc conference call. Deirdre thank you so much. Investors are waiting the risks in the market and deciding they do not want any extra at all. They see the selloff. More than two thirds of the s p 500 are declining. At least 10 from their height. Investors want safety or the perception of it. There is a big move to buy government debt. Prices are up pushing yields lower. The lowest level in about 17