to worry let s find out more with our financial correspondent at the new york stock exchange causes joining us now it s good to see you well we re talking about tech stocks but looking at all the figures right now it s probably fair to say that fears are expanding to other sectors right it certainly is the c.e.o. of red we just had a good handful of the big tech names losing around one trillion dollars in value from the recent highs but on tuesday the broader market sold out even more than the tech industry of blue chips down by a good five hundred fifty point that was down by a good two point two percent but we also had selling pressure in the oil market the oil prices have dropped by almost seven percent or we even had the big retailers some of those selling out for ten percent or even more now talking about those retailers yes they are under pressure especially the traditional retailers
panicking russia to gold. the u.s. economy is doing well, backdrop in states is good. bigger question, can we continue to do what we re doing while the rest of the world erodes? neil: larry, the president was arguing tweet and a lot has to do with unsettled nature of democrats and talking about pursuing investigations that is adding, paradltphrasing, about uncertainty. what do you make of that argument? yeah, look, some post-election digestion going on here. neil, starting to get phone calls today, investors saying, i m worry body volatility this, is not the happy go lucky complacent bullish market i saw beginning of the year. i m concerned. investor psychology is fragile, can spread to the general economy if we re not care bfl how we treat things in washington. right now, i think this is apple taking a bite out of the market. apple, other tech names, becoming forbidden fruit, those
week before. the dow is now down about 4% this month. the nasdaq down 7%. this week some big tech names report earnings. you have amazon, microsoft and google and snapchat the parent company as well. investors are looking for a safer bet. think banks, utilities and drug makers. numbers on economic growth also out. on friday the government releases a look at third quarter gdp. in the second quarter the u.s. economy grew a strong 4%. president trump campaigned on a promise of 4% annual growth. we ll see if the third quarter delivers. thanks. we have these new images just into cnn showing a new angle of journalist jamal khashoggi entering the saudi consulate. you can see his fiancee standing with him as he s scanned. he is seen later standing inside the gate of the consulate as the
analyze this. down 15, coming off last week, what do you think? last week was a rollercoaster ride, massive triple digits move, up 400, down 300. this is tame. a lot of selling in the big tech names. investors rotating to blue chip names. a little anxiety here. bill: larry kudlow was talking with chris wallace on sunday. these kinds of corrections are absolutely normal. this one so far actually is rather moderate. i think it s about 5% or so, 6%. we re still ahead in the major indexes by 4% or 5%. we re cooking on all cylinders, americans, entrepreneurs, workers are crushing it. profits are rising. confidence is up. blue collars are up, wages are up. he is right across the board. if i was to quibble with things beneath the surface it has been
seen in seven years. it s what you get used to. there were times when they were double digit events. in other words, when we had a ten-year note, 10% or better in the 80s. when we had a two-year note that was double what it is now. for a while triple what it is now. it doesn t do much good to say that was then, this is now. a decade of 0% interest rates set by a federal reserve that was trying to get us out of a session and a meltdown. now the trick is unwinding that. charles payne, the nasdaq was not so pleasant beneficiary of the bulk of that selling. the tech names that led us on this parade were the ones getting the most battered. you re right. it s not just today. the big tech names the last three weeks have been