Powered by more than 2600 journalists and analysts in more than 21 countries. Bloomberg. Bloomberg west is next. Welcome to bloomberg west. Coming up, tesla feeling the heat. New reports of a second car a crash, while using teslas muchhyped auto pilot. The technology properly vetted . Well discuss. Consigns itsrry classic smartphone to the museum. The u. K. Struggles to make sense of brexit, well look means. The vote thefirst, to our lead, second tesla driver has been carsd while using the autopilot function. He was on the pennsylvania turnpike, on autopilot, when it on july 1. This comes just days after the u. S. National Traffic Safety administration opened an investigation into teslas a fatal crasher in may. It raises questions on whether testings done enough and whether drivers properly understand its limits. Is auto blogger, ed. Let me start with you. This technology seems like it was sort of so cutting edge that tore was no way for it really be reviewed by nhtsa before it hit the
We are around session lows so lets head to the markets desk where we have the latest. A sense of relief fading after four days of gains. We are seeing them trading lower with the nasdaq leading those declines falling 1. 3 . The s p 500 also adds to the lows of falling 1 while the dow is down. 9 . If you look at the function on the bloomberg, you can see the sectors falling most declined as well as financials. Remember, financials were some of those that saw the biggest recovery from those february lows. Energyprising that sectors are following today headed forhave crude the biggest fivemonth decline. Trading below 47 a barrel. Gainingeing the dollar momentum after trading lower. Is again at ad record low. The lowest level since 1985. We also see the japanese yen those majornst counterparts. Volatility has surged again. But then a fall of about 43 last week. We are now climbing back up slightly about 10 . Take a look at bond yields. Investors are blocking to safe asens and we see bond y
Well look at the geopolitical impact. The question is unproven reserves. How do you count an unproven reserve . Unproven exactly. Well ask about that coming up. Plus, the fbi announcing today it will not recommend any criminal charges for democratic president ial candidate Hillary Clinton. And she is about to speak along with president obama. Theyre at a Campaign Rally in charlotte, North Carolina. Well take you there live momentarily. Lets start with the u. S. And uk banks under pressure. Bob pisani . Hello, william. You throw in the slow growth and zero, essentially zero bond yields and problems for the banks. Once again, after rallying briefly last week, the uk banks are weak. Barclays down 5 . Same thing looking at rbs. Come on over here, vinny. Down 8. 3 as you can see here on top of the declines that we saw earlier in the week. If you take a look at how much weve been down in the last six the brexit announcement back on the june, june 23rd. B b barclays down and most of the banks
The residence and the subject came out with a handgun. Garcia says the officers retreated and pleaded with nunez to drop the gun while he continued going in and out of the house. At one point the subject finally emerged and began pointing the weapon in a threatening manner. Thats when officers fired at nunez killing him. But sanchez says her son didnt have a gun at the time. He said he saw him with a gun in his hands. He put the gun out of his hands and went to hide it somewhere. Police agree nunez was unarmed at some point but says he had reacquired the gun which was found near his body. Reporter the sfrs involved in the shooting are on routine administrative leave. They were not wearing body cameras at the time. Garcia says the shooting is being monitored by internal affairs and independent auditor and a santa clara d. s office. Reporting live, laura malpert, nbc bay area news. An oakland man admitted to a series of attacks on google because he says the tech company has been watching
Prices for the redemptions. This has roiled through this high yield space, as Many Companies have gigantic amounts of debt. They took on during the days of easy, cheap credit in the housing days. Those days are over. And these junk bond funds, particularly the mutual or open funds, are proving to be disastrous investments. I urged you is to sell the stocks of any companies that are borrowing money to pay their dividends, which is the case of many of the oil companies. Now im including a mustsell for any mutual fund where you are risking your principal to grab a little extra yield. A mustsell. Ive urged you never to reach for yield since the show began. I am reiterating that admonition lets go to next weeks game plan. First, well be on the lookout for more stories about Mutual Fund Redemptions just like we had today. Theyre going to dominate the headlines, because Financial Advisors all over the country were calling their clients all day today, urging them to sell junk bond funds so the