By thursday we were down better than 20 from the february highs. That is definition of a bear market. The dow alone, down 10 on thursday that was the worst day since the 1986 crash and black monday. That left traders unsure how to handle the virus impact and questions abound about how slow the economy will become . Are we in a recession right now right now is a boston group chief officer david monson is here, joining us this weekend with 2 billion in Asset Management and eve got the ceo of van ecks, 51 billion in assets under management 80 of funds great to see both. Thank you so much for joining us. What a week, david lets kick it off with you. What did you do, were you caught flatfooted with that 2000point selloff on thursday quest mark. Thereto answers on that, i feel we are caught flatfooted in their sense of theres absolutely no time to react not just this week but over the last weeks. It is the unlike 20,072,008 and surly not like the 2002 bear market. This came so quickly and so
And thats when the Trading Halted it slowed some of the panic selling, the machine selling and at the end of the day, still down more than that for the dow futures for the dow a decline of more than 2,000 points. Youre looking at a big bounceback but only half of the declines from yesterday. Up by 1100 . It found some support and then it was down 5 and then it closed about where it was indicated to open. Right. But we kept saying what if the garden variety correction is 12 we got a pandemic whats a decent where do we got an additional 18 or 19 yesterday. Well, in total. Down down 18 or 19. Yeah. If it goes from here up 1,000 today youll once again be the call of the bottom you will be ill take it. I hope im the call of the bottom. I hope you are too. But its just consensus. Just the feeling that everyone has at the same time that you express. Thats all it is thats many times that is the indicator. Do you think do you think we have more to go . Well, i understand the focus on the equity
Making money. Im Charles Payne. Yes we are invested in you. Now over the next hour our studio audience they get to ask the questions. These questions will reflect the concerns of all americans. Questions that will play a decisive role in the upcoming election in how we tackle the pivotal issues of our time. By the way, allstar fox business lineup. Stuart varney, liz claman, dagen mcdowell. Give them all a round of applause [applause] we are going to tackle the war on the rich, student loan crisis, retirement. The economics of Climate Change. All of this and more, special Live Audience edition of making money. Bring them in. Stuart varney you know him. Host of the top market show on television. Varney company. Hi, everybody. [applause] charles thank you very much stuart. My pleasure. Were going to get right to it. I know that is how you like to do it. Situation son, give us your first question . I am a student, is it responsibility of the government to forgive student debt or cut the co
Across the world the death toll in the u. S. Has risen to nine people a big night for joe biden for super tuesday with key wins across the american south. Wednesday march 4 and Worldwide Exchange begins right now good morning and welcome to the show well tick off the morning with breaking news. Investors bracing for another wild ride as futures are indicated higher sharply, 500 some points for the dow, 51 for the s p and 160 for the nasdaq that is implied. We have seen action wither away over the weeks that action has been anything but mild we were red early on todays massive gain was more than cut in half after triggering the rate cut only one green spec signaling possibly more support and admitting the cut may not be the fed or cure all. We dont think we have all the actions. We do think it will provide a meaningful boost to the economy but will avoid a tightening and help boost household and business confidence. Investor attention today turns toward the central bank of canada due ou
Making money. Im Charles Payne. Yes we are invested in you. Now over the next hour our studio audience they get to ask the questions. These questions will reflect the concerns of all americans. Questions that will play a decisive role in the upcoming election in how we tackle the pivotal issues of our time. By the way, allstar fox business lineup. Stuart varney, liz claman, dagen mcdowell. Give them all a round of applause [applause] we are going to tackle the war on the rich, student loan crisis, retirement. The economics of Climate Change. All of this and more, special Live Audience edition of making money. Bring them in. Stuart varney you know him. Host of the top market show on television. Varney company. Hi, everybody. [applause] charles thank you very much stuart. My pleasure. Were going to get right to it. I know that is how you like to do it. Situation son, give us your first question . I am a student, is it responsibility of the government to forgive student debt or cut the co