Market meltdown. Hang on, everyone, this is the final hour of trade. Good afternoon. Lets have a look at whats driving the action the lack of a Production Cut deal from opec coupled with a saudi price cut sending prices tumbling down 17 on the day alone. Coronavirus fears remain front and center as global cases top 111,000 and italy locks down a quarter of its population. And the bull market chaos rages on as yields on the tenyear at a low of 0. 31 and remain at the moment below 0. 5 . Joining us for the full first hour of the show, lindsey bell from ally invest they have 7. 85 billion in total customer assets. Shes here along with our team of reporters to break down this massive market sell off. Bob pisani is on the floor of the change Brian Sullivan covering the Oil Price Collapse mike is here to look in the the market mike holland ond transports. Well get to all our reporters the dow is down 7. 25 . B bob. Important thing is the Circuit Breakers hit this morning. Down 7 . Halted for
Single one of its accounts was hacked the ceo of Palo Alto Networks will join us to talk about what can be done to stop these security breaches. Protecting our Financial System from hackers. Bank of americas chief operations and Technology Officer will also join us. Talk about what moves shes making to keep customer accounts safe in fact, kathy was just named the most powerful woman in banking for that reason. Shell join us coming up here. Looking forward to that but first, puerto rico bonds plunging after President Trump plenged to wipe out the islands debt following the devastation kautzed by Hurricane Maria we have to look at their whole debt structure you know they owe a lot of money to your friends on wall street and were going to have to wipe that out thats going to have to be you can say goodbye to that i dont know if its Goldman Sachs, but whoever it is, you can wave goodbye to that. That was last night then this morning, his budget chief mick mul vany tried to walk back some o
Goldman sachs. Some pretty harsh words. We have details on that coming up here. Reversal that continued from the session on monday. Really tech has beenleading the marke again today, but underperforming over the last month. We have a debate on which names in the sector are worth buying right now. And President Trump criticizing china for its economic relationship with north korea in the wake of north korea launching that icbm over the weekend. Were going to take a look at what the president s rhetoric could mean for u. S. Companies doing business in china. Thats momentarily but first, you saw it here on cnbc the fed releasing minutes from its most recent meeting in june there seems to be some debate among the fed members about when the fed will actually start reducing assets on its Balance Sheet. Joining our closing bell exchange, we have with us, peter from the Lindsey Group steve from stewart frankel, and our own Rick Santelli is in chicago. With a fine tooth comb no real surprises.
For eric Erik Schatzker today. I cannot wait to see what happens. I feel that for them that they are not here today. Scarlet we will try to make it up for them. Federal reserve policymakers wrap up their today meeting twoday meeting and investors will be paying attention to what the fed doesnt say. Janet yellen is likely to be questioned about the strong dollar and how it may affect Monetary Policy. You can watch that live right here on Bloomberg Television starting at 2 30 p. M. Eastern time. Benjamin netanyahu beat the odds. He beat back the challenge from his main rival and capture the most seats in yesterdays election stop now he must yesterdays election. Now he must form a coalition. The hard work begins. Netanyahu says there are issues that must be addressed immediately. Netanyahu we are facing great challenges ahead. I cannot elaborate on all of them, but i can say with that we have challenges in both with certainty that we have challenges of both diplomacy and security. Scarlet
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