up to 15,000 americans are expected to go to sochi for the winter olympics. we have also been watching this. the u.s. markets struggling this morning here. i want to take a look at the big board right now with new york stock exchange, things rallying a little bit. down 65, 64 or so. friday the dow dropped more than 300 points, wrapped up the worst week since 2011. it was sad to see. yeah. it was actually up .25 earlier in the day so it s now dipped from there. financial experts, they re saying that anxiety in emerging markets overseas is one of the things rattling wall street. what does that mean? alison kosik here so explain. that s sort of part of it, isn t it? not all of it. reporter: it s a huge part, michael and suzanne. we know from our own recession that the global economy is very interconnected. and what happens in one country can have a ripple effect elsewhere. the big selloff in the u.s. and around the world last week happened because of worries of those so-called emerg
uncertainty of all. taxes, obamacare, going to play one of the biggest parts in whether or not this rally continues. sandra, we hear you. thank you very much. so goes january. so goes the year, or that barometer has been right nearly 90% of the time, since 1950. so, if today s selloff troubling? to stock trader ben willis who says the market needs a breather. ben, 2013, fantastic. first day of 2014, big selloff. what s the problem today? well, i think what we witnessed was a buyers strike. most traders were lined up expecting the buyers to be here, putting new money to work into the market. money set aside from bonuses and the like that usually get put in lump sum on the first day of the year. no reason to panic. going back just 30 days ago you saw the same thing happen in december. traditionally the first day of the month we see a bit in the
uncertainty and fear. many americans have serious concerns about their income well-being. fears of a recession leading to a lot of selling. the most selling since october 1987. the big selloff after the day barack obama is elected. the u.s. auto executives say their companies are nearing collapse. and that the only way they can buy time to restructure is with help from the federal government. it is fake life support, and you want to if you can t see through the fake life support we provided, look what has happened to these financial institutions? it s not fake life support, it s real life support. here s the real facts. here s the real facts, ben. the stock has cratered. the lending has not budged. these institutions are on the same precipice and this is after help. this is after help. god forbid those of us who manage the
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so much nervousness on wall street that you saw this big, this big selloff. i don t expect the selloff to continue. i think this was just a little bit, a temper tantrum because they were a taper tantrum. a taper tantrum. absolutely. ben bernanke, so interesting, ben bernanke basically said we ll go on a diet some time next year and that s what got everybody so worried about a diet that hasn t started yet. just the fact that he was so clear about going on a diet is why every aen with is concerned. taper means the economy is improving. wall street is just kind of jittery because they re not going to be propped up any more. it s not going to hurt them in the long run if the economy is improving. but the big concern is europe and china. the big concern is europe and china. the one thing that people are worried about, are they right? can the u.s. economy really go it alone? you still had fed stimulus and