all right, take a look at the market here. a lot of focus on market this morning. the dow rebounding in the first hour of trading after a significant decline yesterday. the biggest daily decline in nine months. resurgence of covid has sent st stocks tumbling yesterday and investors are worried what that means for the economic recovery, this is a big chunk of the market drop yesterday. now going back in the other direction. matt eagan joins now live. is there a sense on folks that you speak to that the market overshot this a bit yesterday. reporter: the mood on wall street is definitely a lot better than it was 24 hours ago. the dow has recovered more than half of those losses from yesterday. which as you pointed out was the worst day of the year. it was the worst day of the biden era. the big concern the delta variant, the worry was that
on people, you not only keep more, but you earn more. david: all right. let me switch gears a little bit for you, jessica, on the recession talk because there s been a lot of recession talk, not just by democrats, but in the media itself, also by people on wall street that are concerned about. you saw the market drop yesterday. right. david: most of that was china concerns, but a lot of it was this underlying concern about how that might affect the overall economy. how is that going to be played out on the campaign trail by democrats? i think it s going to be played out. no one wants a recession. this isn t a bunch of candidates running around talking what the president did yesterday on his twitter account, basically, moving us closer and closer to recession via tweet, frankly undoing the progress. david: even though schumer supports on taxes. he supports with china, but doesn t support a trade war and
the dow shed nearly 1200 had points yesterday after falling as much as 1500. the index fell below the 25,000 mark, erasing all of its gains for 2018. mean wile, the s&p 500 pulled back more than 4%. its biggest one-day decline since august of 2011 while the nasdaq fell more than 3.5%. the continued slide is being partially blamed on the market s anticipation of more interest rate hikes by the federal reserve as a result of the improvement in the economy. that issue is now front and center for the central bank s new chairman, jerome powell, who was officially sworn in yesterday amid the market turmoil. powell and his colleagues made no public comment on the sell-off and are expected to make no moves. meanwhile, president trump did not publicly comment on the market drop yesterday, but the white house did release a statement saying the president s focus is on our long-term economic fundamentals which remain exceptionally strong with
democratic members of the house intel committee discuss the decision to release the democrats memo. and speaking of the republican memo, president trump shared his utmost respect for the author of it alleging surveillance abuses, representative devin nunes, a man of tremendous courage and grit, may some day be recognized as a great american hero for what he exposed and what he has had had to endure. yesterday, the house intelligence committee said the president and the trump foreign policy adviser george papadopoulos never met. here is a picture of the two of them sitting together at a table back in their march 2016 meeting that is being shared or was shared at the time by the president himself. nunes down played papadopoulos