Its all right. Stephanie ruhle takes over the coverage. Boy, that is a tough, tough answer. Wow. Andreas i hope your insights on market are kinder. All right, stephanie. Yes, look at andrea here. Im sorry, were on television. Were still on. Yes, we are still on. Andrea knows im speaking truth. Its okay. Were not going to be like that. Stephanie, is it going to be a bad day today . You know, well see, well see. Who knows. The market is irrational. President trump is the only one who disagrees with that. Good morning, everybody, i am stephanie ruhle. Why is it dark where i am . Because i am live in San Francisco for what is shaping up to be a monumental day. And you know what im going to start with. An historic plunge. After months and months of calm, fear on wall street, as the dow hit its largest oneday drop in history, where many traders are preaching stay calm. For the longterm investor, you would welcome opportunities like this, because this correction shakes the trees a little bit.
you know, not even a ratings agency giving us a warning card was enough to deter investors. traders have been trying to block out the noise and focus squarely on the fact that they believe that they know that a deal is going to get done. at one point, the dow surged 206 points. i ve been speaking to traders all morning. i said, there s no deal just yet, so why the optimism? they say, look, we know how washington works. we know that no politician wants to pick up the pieces of a possible default. and even if we don t see a deal tonight, we know the treasury has enough money to buy us some time. but the worry among some traders is is that the markets really haven t reacts strongly enough to force washington to really act. and some people are asking me, when we come up against the next deadline, are we going to see the same political brinkmanship. as wall street basically let washington get away with this? jake? zain asher, thank you so much. we had braced ourselfed, but it lo
0 we ll likely need another one in a few months and another one after that. why is congress just staggering from crisis to crisis? and as some lawmakers pat themselves on the back for reaching a deal, people out there are still hurting. just ask the thousands of kids in danger of going hungry in one state because of this gridlock. good afternoon, everyone. i m jake tapper. welcome to the lead. we ll begin with the money lead, live from capitol hill with just eight hours to go until the debt ceiling deadline, the mere promise of a promise has them partying. the dow jumped 200 points in reaction to news that a debt ceiling deal had been reached in the senate, and that s before the ink on the deal was even dry. we ll get to the politics of this all in a moment. but first, cnn s zain asher is live at the new york stock exchange with more on the stock surge. zain? reporter: hi, jake. yeah, so much excitement here on wall street, so much optimism. you know, not even a ratings agency givi
members. an exit would be harmful for the block. and japan s struggling sharp posts a bigger than expected annual loss. it hopes a new president will help bring it back into profit in the year ahead. announcer: you re watching worldwide exchange, bringing you business news from around the globe. we ll kick off with the iea data. the production in north america continues to grow at a record pace and refining capacity is expected to outpace demand in high growth emerging markets. this according to the international energy agency. 3.6 million barrels a day come out of maintenance and new saudi arabian capacity comes online. the oil production north american oil production will dominate world supply growth over the next five years, as well. we ll keep your eyes on that. clearly, prices are slipping on the back of that report. nymex down to 95.16. meanwhile, plenty of corporate news. business is not for sale accord to go dan loeb who reportedly wants a spin-off for more