and it speaks to the muss multiplicity of risks and leading to the choppy trading days. dow took a real hit yesterday. and we ve been talking about the dead ceiling. janet yellen has notified congress that the united states reaches it borrowing limit tomorrow. walk us through what happens if the lawmakers don t lift the debt creel something. . ceiling? it is a real conundrum. they have a bit of time. yes they hit the debt ceiling thursday, but they will enact extraordinary measures.
that, let s bring in cnbc s arabile gumede live from london. arabile, you are stocks took a hit yesterday. all three major indexes, they closed lower as investors grappled with again recession fears and concerns over china s covid surge. how is the market looking this morning, though? yeah. so, it s pretty much the same picture, right? you re getting a sense that investors are looking a lot harder at that recession fear, with covid-19 fears from china coming back into the market picture. and really worrying that the contagion effect to actually last longer. yes, everybody is wondering perhaps to open up as an economic front, of course, to get a little bit out of that economy, but things not necessarily looking as good, when it comes to the number of covid-19 cases out of that region. we ve seen a lot of that in europe as well. put out quite a few remarks saying that they will actually
anticipation of the fed, but is this a market that is still reacting to gridlock in washington and now a divided government potentially? we know historically wall street likes that, charles. i agree 100%, one of the reasons it got hit yesterday, a lot of confusion, the headlines said the house is not settled yet and that s all wall street needed to do. overnight you can see the map, crunch the numbers, at least have the house and that s good enough for wall street. that plays a role, this plays a role, the inflation report. but something else people are not talking about, you know, we get initial jobless claims every thursday. they are not only starting to go up, but continuing jobless claims at one point, almost 1.5 million, that this number is rocketing higher. sandra: that s the fed goal, though. you have to have pain in the employment. that s the number, as it rocketses higher that will get the fed to eventually stop. but it s sad that s the notion the fed is going to inflict
reporter: so 33 conservative lawmakers did not vote at all as they were supposed to and so now the british press association is reporting that they will potentially face disciplinary action from their own party if they don t have a good excuse so, again, one more sign, christine, liz truss seems to be losing control of her own government. is there more stability in markets at least? remember, her early plans crashed the pound and caused all kinds of chaos in the debt markets. yeah. so the pound took another hit yesterday on news of this chaos. of course, as you well know, christine, markets like stability and this doesn t look like stability. even the foreign secretary said just the other day that, look, we need to look like we re interested in people s problems right now given inflation, given all of the problems with the cost of energy and if we re playing these political games and trying to potentially boot
of course, i don t believe that, but at least he might have some idea what happened to him and realize he had a concussion. teenagers are not old enough to understand what s happening inside their brain. and they might not connect the dot it is they took a hit yesterday and the next day they re having headaches, they couldn t sleep last night. they may not tell the athletic trainer they might have a concussion. high school football players have already died from brain injuries. one in new jersey just a couple of weeks ago. this is a life and death issue. it happened to a kid at my high school. he wasn t these stories are everywhere. we have to be so much more vigilant about lowing the risk profile for kids, teaching them what concussionses look like. we have a program that teaches teammates to look out for each other, because we realize kids