Bremmer, and Gabriela Santos the dow is down now almost 700 points again coronavirus fears sending the market plunging. The dow falls at one point more than 1,000 points at session lows all sectors going into correction territory which means 10 off their highs. Stocks are off to the worst level of the session after jay powell came out with a statement saying the fundamentals of the u. S. Economy remain strong and bond yields are plunging again sending Mortgage Rates to their lowest levels in eight years joining us for the hour, the final hour of trade is lindsey bell from allied invest. Also with us is senior markets commentator mike santoli as always to take you through the bell lindsey, what are you getting from some of your clients and what are you telling them . Our clients are retail clients. They are definitely concerned. So were telling them first and foremost, please do not panic. This is why you should have an investing plan in place. And always go back to that plan to reasses
Now people are suggesting because of the weirdo incidents, cramer called them morons the vix is leading the market because people are selling to pay for positions they were in over their head on. Wouldnt be the first time the tail wags the dog. Is it the tail or the dog the answer is yes. Guys, take it away. Have a good couple hours. Thank you this is the closing bell, everybody. The final hour of trade has everybody focused on whether were going to go back and retest the lows weve seen this week. We have sort of, but is it enough thats the question. Is is it enough for the market another big selloff. The dow was down nearly 700 points at the lows midday, but we are well off those lows right now but that could change. Stick around as bill mentioned, we have higher Interest Rates. That could be one factor sparking selling another thing to keep an eye on, the u. S. Dollar hit a twoweek high earlier in the session before it gave background. Right now we have Team Coverage of this decline
Impose a fine and permanantly bar him from the Banking Industry stemming from their unauthorized use and disclosure of confidential supervisory information. My understanding is its not revealed in any of the particular documents but its internal ratings of other banks. This was a rating of another bank. Allegedly used in pitch meetings with clients and potential clients so this information just coming off of embargo now. Well have to talk to them and see what their side of the story is but for now the news is Goldman Sachs reported to pay 36. 3 million civil penalty. Back to you. More from you later on that. Thank you so much. Meanwhile, it is just after 8 00 a. M. Out west. 11 00 a. M. Here on wall street and squawk alley is live. Good wednesday morning. Welcome to squawk alley with you for the hour. On assignment in rio at the olympics and also joining us this morning out west, inside. Com founder and ceo. Our top story this morning, Hewlett Packard Ceo Meg Whitman doubling down on c