Americans, its bad. The infection adds to the oil slump. Shery lets get you started with a quick check of the markets. We were seeing earlier losses gaining three tents of 1 , but its still early in trading coming off the worst day again since 1987 and losses accelerating and falling to session lows. President trump talked about economic disruption lasting well into the summer. The dow now falling to the lowest level in two years. Losse talking about a 30 since the peak in february. We are seeing the Downside Pressure with the s p 500 index. Every sector on the s p in the red with losses of at least 7 . Financials and real estate leading the declines. , fallingave small caps more than 12 . U. S. Futures at the moment, a little upside. Up 6 10 of 1 . We will see how things shape up as the asia session gets underway. Amid thesia wideranging meltdown with more central bank rates, moving to boost liquidity we had on monday. The bank of korea delivering a 50 basis point cuts in emerging mee
Record highs were only ten days ago. I continue the watch bond yields as yields sink so do stocks. As yields come off their lows stocks follow. What are you watching. When you look at internals, technicals, he is with aed on every measure of being shortterm oversold we had already checked those boxing going into today then today thing got worse it was a lesson for investors and traders that oversold doesnt mean the coast is clear. You can always get more oversold what is interesting right now, the s p at its low today down more than 10 . In five days thats only happened four times in history, 2011, 2015, and during the. Com bubble and burst and during the great financial crisis this is very extreme activity. On that point, to your point, bespoke today points out, to understand the magnitude of the drop and the swiftness in which we have seen it if the s p 500 today closes below 3,547. 53 today, tomorrow, or monday, it will be the fastest 10 decline from the alltime high from the s p 50
Its the first time anyone ever said that to me. I said who is this guy hes the governor of iowa. He just said dont say bad about china. So i had to rip up about half of my speech. Right . I said why he said we do a lot of business. Ive been dealing with china for 35 years with corn and Different Things he told me a story that was amazing. 35 years ago when i started, i met a man named xi he wasnt president it then. He was a young man and the governor came back he told his wife, he said this is 35 years ago and its documented. He said, i just met the future president of china and nobody thought much about it you know what . 28 years later, you turned out to be right. And you have been an incredible ambassador and they like each other so much so when it came time to pick the important position of ambassador, i said havent you had enough after 24 years being governor of iowa he said if you want me to do that, and its been a great youve been a great help thank you very much, ambassador. I
Latest on the scuffles between the u. S. And china over that phase one trade deal thursday china announced a new list of import tariff exemptions for 6 chemical oil products from the United States these exemptions will last for one year kicking off december 26th though Chinas Finance Ministry as not provided a value for the imports excluded from those tariffs what we do know is that the waivers will apply to 4 Chemical Products including Refined Oil Products that include white oreo and food grade petroleum well meanwhile there has been a lot of talk about how this phase one agreement will be such a big win for workers that is the narrative that we on this show have been challenging in fact on the day that the u. S. Seems see a agreement was announced every other business show was praising this as a huge win for the u. S. But heres what we told you. So what is significant about the labor part of the deal wall mung other things this agreement requires that 75 percent of automobile compon
But this is a boom box broadcasting around the globe uncovering the world of business and finance and the impact on us all ive been flung and im kristie im watching 10 parents what we have in store for us today for us and see it moving forward but the head of the biggest auto union in the nation is asking questions that this show raised a week ago well tell you what you say and why it matters so much less than the bank of england act that might provide traders with an unfair advantage thanks to an open audio feed and News Conference that one thing done to fix that problem weve got a live interview straight ahead and then later another huge hit for hoover as the company has now been banned in germany why this is the right here in company is just another example of how theyre coming under so much fire across europe this is the one show you cant afford to miss so lets get started. And we begin with the latest on the scuffles between the u. S. And china over that phase one trade deal thurs