Good morning and welcome to Worldwide Exchange on cnbc. Im sara eisen. And im wilfred frost. Congratulations this morning to the villanova mens basketball team. If you went to bed early and missed the storybook ending to that game, what a march madness of upsets. The villanova wildcatings defeating the North Carolina tarheels with a buzzer beating threepointer to win the ncaa championship, even more amazing that game winning shot came just seconds after North Carolina nailed a three of its own to tie things up. A memorable final five seconds sure to go down in the history books. Well have much more on that and in sports more widely later this hour. One of the best finals ever, people are saying. Congratulations to mr. Cramer. Now to the markets. What we are seeing is a pretty sharp selloff, and it is global right now. Check out u. S. Equity futures. A tripledigit loss at this early hour for the dow. Dow futures down 08, s p futures down 15, nasdaq futures down 30. Nasdaq was the big la
Point is down by almost 2. 5 . The ftse is down by 1. 5 . If you look at the price of oil, which was under quite a bit of pressure yesterday, you can see this morning its down another 22 cents, sitting below 36. Lets tell you about some of the big stories were watching today. Perhaps the biggest right now is this one. Shares of allergan are plunging after the treasury and irs announced new rules to curb tax inversion. The two companies releasing a statement saying, quote, we are conducting a review of the actions. Prior to completing the review, we wont speculate on any potential impact. We should say that allergan is one of the Largest Holdings of some of the hedge fund community. Its considered a topten holding of about 80 hedge funds right now. So you might see a big impact in that stock this morning. The stock was down by about 21 . Im saying it may even be worse. Some of the people we know. Were checking the potential impact. Its down 60 points. Theres not a potential impact. Ther
To turn a wisconsin win into momentum . Well ask Katrina Pierson how mr. Trump is handling this bumpy week on the trail . What happened behind closed doors during the rnc meeting and why is trump m. I. A. On the trail today. The anaconda ad, ted cruz supporter and former reporter on that ad and the lyin ted pileon and how the snake goes around the neck. The Nuclear Summit with more than 50 World Leaders, wait until you hear how he describes the Iran Nuclear Deal today. Likes the jobs report, the Dow Jones Industrial average near session highs. More than a 200 point reversal after initially falling when the Labor Department announced the Unemployment Rate kicked up to 5 but the economy created 215,000 new jobs. Charlie gasparino switched his story, new news on how the Clinton Campaign plans to thread the needle on wall street, and well show you teslas hot new ride. So hot elon musk is updating stunning reservation numbers for the model 3. Less than an hour to the closing bell. Time to g
Did you know there are only really five stops powering that index now . Well tell you about that and more. First, lets check in with sarah. Welcome, sarah. Thank you. Its good to see you and be with you as always. We have to begin with that potential deal between walgreens and rite aid. The pharmacy chain stocks all moving right now. This is just talks. Advanced deal talks according to the wall street journal. Supposedly theyre in talks right now. It had a noticeable infect on rite aid. I want to point out here, put up rite aid intraday here. 6. 24. Rite aid at 6. 24 just about 40 minutes or so ago. And we immediately got halted. And you can see the jump up after the halt came off to 8. 51. Whats important is walgreens even moved up on this. Sometimes the alleged acquirer moves down. Thats not the case. You can see that moved up as well. And heres a surprise. Even cvs moved to the upside. You would think this would not be necessarily great news for the competition. Even cvs moved up on
Gilead. We will have the instant analysis. We are 26 hours away from the start of the cnbcs coverage of the gop president ial debate. Steve forbes and todd butch holds are here to tell what you say they want to hear from the candidates and predict who they think will come out on stop. We begin with ibm under investigation by the sec they have dis pleased. Bob pisani has the latest as the shares are falling. Well, obviously investors are taking this a little ease seriously. Ibm down 3. 6 . It dropped 2 on this news and their investigation on revenue recognition issues at the sec, ibm says they are cooperating with them. They are investigating how they account for certain revenues that they get from transactions in the u. S. , in the u. K. And irela ireland. You would think does that sound that serious . I think the issue here is that revenue recognition is sort in the Software Services particularly is sort of the heart of their growth that theyre having and anything that interrupts that