Driving the action first and foremost of course the heightened fear about the coronavirus. More countries go into lockdown as the steady spread of cases continues. The fed made a dramatic move cutting rates to zero and announcing new assets. And the economic slowdown with weak manufacturing data this morning from both china and the u. S. As we just said we are down about 9 on the dow. The low of the session was down 12 or 2,800 points. The dow is down about 31 from the recent market highs as we stand with just under we have every angled covered for you. Lets drill down on the selloff Mike Santelli at the market dashboard and lets begin with bob on the floor of the exchange. Trading halt this morning, 15 minutes right after the market opened our third trading halt in the last six sessions. Look at the s p 500. Our low is just a tad above 2,400. So well off of that number everybody down here waiting to see what if anything the president might have to say. Take a look at the dow movers, t
Is tech in trouble, have the stocks gotten too expensive . Do we need to worry about what happens with the group if President Trump cant find Common Ground with president xi and with the market at lofty levels, the s p back slid and the nasdaq gained 2. 4 its something that Money Managers will talking about it was cleverly titled changes and the big takeaway was it was time to lighten up on my Favorite Group which is technology their thesis theyre worried about it shifting to the tech war, American Companies only buying from nonchinese suppliers and you have the strong dollar to worry about with tech rallying you have a crowd of weak headed investors who head for the hills at the first sign of trouble. We heard some discouraging things in technology look, just last week, cisco it gave a downbeat forecast for the reasons that bank of america and merrill cited. Even though it represents a good balance sheet, some okay growth, investors are soured on it especially some of the big guys bec
Picture. Goldmansachs expects the fed to begin easing in q2 of next year. Also ahead, were going to talk about what is next for the tech sector. This is in the midst of whats been a rough august at least so far. Were down 7 month to date. And letter x Surging Company rejects an unsolicited takeover offer from its rival, cleveland cliff. Lets get some other news, though, as well, as we start the show paypal has a new ceo whoa. Yeah. Alex, who currently runs the Small Business and selfemployed group for intuit, is going to take over from paypals longtime ceo dan shulman on september 27th according to members of the board a little earlier than expected they conducted the search for paypals new ceo shulman will remain a paypal director until next may. Chriss being hired was a result of the process where the board interviewed nine ceos. They reduced that pool to four candidates and then they chose mr. Chriss members of the Board Selection Committee tell me he impressed them with leading a d
Much in to our viewers. Thanks very much for watching. The news continues next on cnn outront next, breaking news, were learning new details about the conditions Alexey Navalnys team says must be agreed upon in order for the opposite Mission Leaders body to be released. Details that include a secret funeral, plus breaking news. We are on the surface, a us spacecraft touching down on the moon for the first time im in 50 years. But the condition of that spacecraft is still unknown as were standing by for the first images and pay up federal judges ruling the my pillow ceo must pay a Software Expert who debunked his election lies 5 million. The man was supposed to be getting that money is my i guest. Lets go out for good evening. Im jim sciutto in tonight for erin burnett and Outfront Tonight, breaking news. Alexey navalnys body now being held hostage tonight. Were learning the conditions that russia has set in order for authorities to release the Opposition Leaders body to his mother. Acc
Much in to our viewers. Thanks very much for watching. The news continues next on cnn outront next, breaking news, were learning new details about the conditions Alexey Navalnys team says must be agreed upon in order for the opposite Mission Leaders body to be released. Details that include a secret funeral, plus breaking news. We are on the surface, a us spacecraft touching down on the moon for the first time im in 50 years. But the condition of that spacecraft is still unknown as were standing by for the first images and pay up federal judges ruling the my pillow ceo must pay a Software Expert who debunked his election lies 5 million. The man was supposed to be getting that money is my i guest. Lets go out for good evening. Im jim sciutto in tonight for erin burnett and Outfront Tonight, breaking news. Alexey navalnys body now being held hostage tonight. Were learning the conditions that russia has set in order for authorities to release the Opposition Leaders body to his mother. Acc